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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: VAT RATES :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TDS :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: due date for vat payment :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: empanelment
« Service Tax »
 Benefits of GST to home buyers In the next lifetime
 GST: Jaitley says yes to cess, no to additional tax for compensating states
 GST to enhance ease of doing business, says Assocham
 Govt sources say cess is a better option than high tax rate
 Goods and Services Tax: There should not be more than three grades of rates, says Chidambaram
 Chidambaram says there cannot be multiple tax slabs in GST
 Service tax officials transferred for favouring realtor
 GST, a challenge and opportunity for accounting professionals’
 Service Tax On Hotels And Restaurants – Recent Delhi High Court Judgment
 GST Council discusses 4-tier tax rate, cess on demerit goods
 Why you shouldn’t miss these three simple tax saving options beyond Section 80C

Fin Min mulls new intel wing to check service tax evasion
April, 15th 2013

Concerned over mounting cases of service tax evasion, the Government is mulling to create a separate intelligence unit to check the menace and stop leakage of revenue.

The proposed Directorate of Anti Evasion to check service tax evasion is likely to be set up by the Finance Ministry close on the lines of two other intelligence agencies under it--Directorate General of Revenue Intelligence (DRI) and Directorate General of Central Excise Intelligence (DGCEI), official sources said.

The Central Board of Excise and Customs (CBEC) has detected service tax evasion of Rs 9,800 crore during April-December period of the last fiscal (2012-13) against Rs 5,000-6,000 crore in the same period of 2011-12.

The move to form a new directorate came after rise in the number of services under the service tax ambit, they said.

"The number of services under service tax has increased significantly. There is a need to strengthen anti-evasion activities in service tax to ensure proper compliance from service tax assessees. A separate Directorate of Anti Evasion on the lines of DRI and DGCEI for service tax may serve the purpose," according to an official note by the Ministry.

At present, DGCEI is entrusted with the responsibilities for collecting intelligence and acting against both the central excise and service tax evaders.

Whereas, the DRI is mandated to check customs duty evasion and collection of intelligence about smuggling of contraband goods, narcotics and under-invoicing among others.

Sources said the DGCEI and DRI have been actively catching service tax, excise and customs duty evaders. However, a separate directorate may help in ensuring strict check on service tax evasion, they said.

There are more than 100 services including air travel, eating out at restaurants, staying in hotels, clubs or guest houses, renting of immovable property, rent a cab, health and fitness clubs and outdoor catering among others mandated to pay service tax at the rate of 12 percent.

Revenue Secretary Sumit Bose had early this year given a stern warning to excise, customs and service tax evaders to either pay dues on time or face penal action which could include arrest, prosecution and property attachment.

Following this, government has realised Rs 10,453 crore service tax during February, 44 percent more than collections in the previous month. About Rs 7,255 crore was collected as service tax in January.

The service tax collection during April-February of financial year 2012-13 was Rs 1.13 lakh crore, while customs duty mop up was Rs 1.5 lakh crore. Indirect tax collections registered 20 percent growth at Rs 4.17 lakh crore in April-February period of last fiscal, according to government's estimate.

As per the revised estimate, the government aims to collect Rs 4.69 lakh crore from indirect taxes, comprising customs, excise and service tax.

Finance Minister P Chidambaram had also in his budgetary speech for 2013-14 highlighted that only seven lakh out of nearly 17 lakh registered service tax assessees were filing returns.

Sources said the government was taking other measures to check service tax, excise and custom duty evaders and working on measures to strengthen anti-evasion mechanism.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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