A CBEC panel wants the new service tax regime, which is scheduled for implementation from July 1, be deferred by 3-4 months as more time is needed to put in place the required framework.

Under the new regime, service tax will be levied on all but 17 services — lottery, betting and gambling etc specified in the negative list.

More Under Service Tax

Posted Under

Category : Service Tax (3290)
Type : News (12764)
Tags : CBEC (380)

0 responses to “Postpone implementation of Negative Service tax regime”

  1. ravindranathan p says:

    Scrap service tax as it has become a liability to the public and business entities. The Service tax department is the most corrupted one and the peon to superintendent think that they are sent by god himself to collect money and ask for huge amount even in the cases where there is no evasion, timely payment, return etc. They behave in a way and treat all assessees as tax evaders. The service tax staff (99%) should be given a training to teach them how behave with public. They should be reminded that their salary is funded by the assessees. They should also be reminded what Gandhiji said with a little change “Assessees are always right unless they are proved wrong.”

    Further, overlapping taxation and cenvat/setoff provisions leads to unnecessary documents, without government earning a single paise, but saddle the business/profession to loose considerable man hours. Instead of creating more assessees without any financial gain to the government, charge all services a 2% service tax, which I am sure can reduce the paperwork and government will earn much more than what it earns, now.

    It is necessary to reduce the staff and run the department with honest, efficient and sincere people.

  2. Subhash Bhagat says:

    Respected FM & PM,
    your humbly requested to please take up all required steps to new reforms immediately as take this as family emergency to save Indian economy, Industrial Growth & to reduce inflation & Cost rise of Food & eatables, the steps in this regard must be taken so fast as works before going on dining table.
    An Indian.

Leave a Reply

Your email address will not be published. Required fields are marked *