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: TDS :: cpt :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: empanelment :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: due date for vat payment :: form 3cd :: VAT Audit
 
 
News Headlines »
 E-filing ITR: Govt's income tax website or private websites?
 Income-tax (17th Amendment) Rules, 2017
 GST: One nation, one market, one tax
 Ready or not, businesses brace for biggest-ever tax reform
 Ready or not, businesses brace for biggest-ever tax reform
 Make your inventory and invoicing software GST Ready from Binarysoft
 Filing income-tax returns gets simpler for salaried persons
 Ten rules you must follow while filing income tax returns
 Reforming the income tax tribunal
 How the new system might impact consumers and businesses
 10 ways you get benefited from filing your tax return

Efforts to simplify service tax
May, 31st 2007

Government is expected to come out with two comprehensive circulars that will give details about all 100 services under the service tax net and related procedures in a simplified manner by mid-June.

"The comprehensive circular will replace all the present circulars and will enable the tax payers to access all required information in a detailed and simplified manner," Central Board of Excise and Customs (CBEC) P C Jha said while speaking at an Assocham seminar here.

Service Tax Commissioner Gautam Bhattacharya said these circulars would be based on the recommendations of single-member Rastogi Committee and will also contain the modified and required portion of present circulars.

"The new circulars are in final stages, and would be issued by mid-June after the clearance by Finance Minister P Chidambaram," he said, adding most of around 120 circulars have already become redundant.

Jha said the government has already withdrawn 48 circulars issued since 1994 and efforts are being made to clarify all issues relating to service tax through the new circular.

He also clarified that in future all circulars would be issued only by the CBEC, unlike in the past when Director General Service Tax also used to issue circulars.

Bhattacharya said that seven new services, which have been included in the service tax net from June 1 this year, are expected to fetch about Rs 9,000 crore this fiscal.

The commissioner said the target of service tax has been raised to Rs 50,200 crore for 2007-08 from against Rs 37,500 crore in the previous year.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

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