Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TDS :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT RATES :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: cpt :: list of goods taxed at 4% :: form 3cd :: ACCOUNTING STANDARDS
 
 
« News Headlines »
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act
 Have you got interest on your income tax refund?

Govt to check double taxation
November, 30th 2006
The revenue department is examining the service tax on industry and service providers, particularly in the telecom sector, to ensure that there is no incidence of double taxation, an official of the department said. 
 
The finance ministry would shortly come out with an announcement to this effect by amending any circular that is capable of double interpretation to ensure that services are taxed only once and not twice," P C Jha, Member, excise and service tax, Central Board of Excise and Customs said at a seminar organised by Assocham here. 
 
Jha pointed out that while the growth in the telecom sector was 30 per cent, the service tax collection was a meagre 9 per cent. 
 
"I have issued instructions to the department concerned to look into the issue as the ratio between the growth of telecom sector and that of its service collection is not commensurate," he said. 
 
The finance ministry intends to collect a total revenue of Rs 4,50,000 crore through both direct and indirect taxation in which the share of customs would be around Rs 80,000 crore and that of excise Rs 1,80,000 crore. Through service tax imposition, the finance ministry wants to generate a revenue of Rs 40,000 crore while Rs 2,10,000 crore worth of revenue would be generated through the imposition of direct taxes by March 31, 2007" Jha said. 
 
In order to collect the due taxation, the finance ministry has decided to take control of those manufacturing units that are evading excise, customs and other levies, he said, adding that the government would take serious action against defaulters. 
 
Chief Commissioner of Central Excise, C G Lall said the Delhi government was still falling short of its service tax collection target by 58 per cent. 
 
She said that large tax units put up in different zones of Delhi for collecting service tax were likely to be dismantled as service tax payers were not coming forward to pay the taxes. 
 
"Lot of manipulation has been going on. CENVAT credit is being availed on forged documents. The Delhi government is geared up to take stringent action against those who violate payment of service tax to the government," she added.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions