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 :: TDS :: cpt :: VAT Audit :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: VAT RATES :: empanelment :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
Service Tax »
 India to levy service tax on freight for imports on delivered basis
 Income tax relief must be blended with additional tax measures
 9th GST Council inks breakthrough on dual control over tax payers, rollout deferred to July 1, 2017
 GST rollout uncertainty hits Budget 2017 calculations
 GST now set for July 1 roll-out, dual control hurdle finally over
 Grant of Registration under DVAT and CST
 Do not raise service tax, says Chamber
 Excise, service taxpayers to migrate to GST portal by Jan 31
 Centre, state governments work on formula for 'GST on high seas'
 What is service tax?
 Tax to bring transparency, benefit companies operating in state, says Gujarat CM Vijay Rupani

No impact of DoR's initiative to recover service tax arrears
May, 06th 2015

The Comptroller & Auditor General (CAG) today said measures initiated by the Revenue Department to improve recovery of service tax arrears did not make any impact as collections fell drastically in 2013-14 as against the previous fiscal.

"It is a matter of concern that the collection as ratio of arrears during FY14 has fallen drastically to 3.12 per cent as compared to 11.40 per cent in FY13.

"There is a need to strengthen the recovery mechanism of the Department," the CAG report tabled in Parliament said today.

In 2013-14, service tax arrears realisation was Rs 1,232 crore, while the arrears were Rs 39,537 crore at commencement of the fiscal in April 2013.

While in 2012-13, the collection was Rs 2,322 crore or 11.4 per cent of the Rs 20,361 crore arrear at the beginning of the fiscal.

The report noted that indirect tax revenue as a per centage of gross domestic product (GDP) has increased from 3.79 per cent in 2009-10 to 4.41 per cent in 2013-14.

During the same period, service tax revenue as a per centage of GDP rose from 0.9 per cent to 1.36 per cent.

On service tax liability in insurance sector, the CAG report said "ambiguity" in a circular issued by the Central Board of Excise and Customs resulted in non-payment of service tax of Rs 252.4 crore.

Also, non-payment of service tax of Rs 7.05 crore under reverse charge on insurance auxiliary was noticed, the CAG said.

In a chapter on non-compliance with rules and regulations, the auditor observed instances of non-payment/short payment of service tax, incorrect availing/utilisation of CENVAT credit and non-payment of interest on delayed payments having financial implications of over Rs 128 crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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