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: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: cpt :: due date for vat payment :: VAT RATES :: VAT Audit :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd
 
 
News Headlines »
 GST dilemma: Hope fades for new tax regime
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 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

Service tax collections may top Rs 38,000 cr this fiscal
March, 28th 2007
Service tax collections in 2007-08 could well exceed the target of Rs 50,200 crore, officials of the tax administration believe.

The revised target of service tax collections for the year that is coming to a close is likely to be exceeded by around Rs 200 crore, said a senior officials from the Government of India recently.

Because of the buoyancy in tax collections, the original target for 2006-07 of Rs 34,500 crore was revised to Rs 38,160 crore a few months ago. Now, even this is likely to be exceeded, according to Mr P.K. Jain, Commissioner of Service Tax.

The target for service tax collections for the year 2007-08 has been fixed at Rs 50,200 crore, but the tax departments see this as an "easy target".

Since new services have been added to the taxable list, the target would be easily met, Mr A.K. Raha, Member, Central Board of Excise & Customs, said.

Mr Raha and Mr Jain were among the officials who had come here to take part in a seminar on the Union Budget organised here by the Federation of Indian Chambers of Commerce and Industry (FICCI) on Saturday.

They said that service tax on works contracts, rent on commercial property and cab services would add to the revenues.

Poor response for e-filing

The officials were dismayed that the response to the facility for online filing of service tax returns met with very poor response.

Speaking at the FICCI meeting, Mr Jain said that even in such an IT-savvy city as Chennai, where there were 40,000-odd service tax assessees, the number of assessees opting for the e-filing facility was in "two digits only".

Later, he said that the situation was similar elsewhere in the country too.

In an informal chat, both Mr Jain and Mr Raha observed that the `comfort level' that assessees had with the tax officials was so good that they were reluctant to go online.

If there is a mistake in the return, an officer would point it out and assessees would effect a correction, which is not possible in online filing, Mr Jain observed.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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