The March Syndrome is here; Service Tax for March to be paid by March 31
March is a very serious month for Revenue officials. The all-elusive target has to be somehow met by hook or crook or by robbing from next year’s revenue. One way to artificially boost up this year’s revenue is to show next year’s revenue in this year. But what will happen next year. Why this farcical manipulation? This year IS most important. Next year I may not be here. Let my successor face the problem!. The whole ridiculous cycle does not really help any one but is religiously continued.
Now for Service Tax too, the tax for the month of March has to be paid by 31st March. The Service Tax assessees actually have time up to 25th April to pay the tax, but the Rules have been amended so that 25th day is okay for other months, not March!. In the month, assessees will now end up paying Service Tax for February on March 25th and for March on 31st March. Two months tax in a week! This will help the Government get a little more tax in this year’s account but what will happen next year? It is said that the politician targets the next election but statesman the next generation. And the bureaucrat? His target is this year’s target!
NOTIFICATION No. dated 14.1.2005.