Board will clarify on Education Cess Credit, says Service Tax Commissioner
THE PHD Chamber of Commerce and Industry in a Press release said,
Commissioner Service Tax Mr.Gautam Bhattacharya on Friday asked India Inc. to be excessively pro-active in sharing its inputs with the government officials when they are in the middle of preparing the direct and indirect tax proposals rather than commenting on them after such a policy documentation is finalized, for it becomes difficult for them to insert and incorporate valuable industry's inputs later on in such a paper.
Mr. Bhattacharya indicated that clarification sought by industry on application of service taxes including education and secondary education cess, especially after the service tax has been increased to 14% would be addressed suitably by the finance ministry without giving a particular roadmap for it.
Who will pay for the un-utilisable credit?