Wilful Service Tax Evaders - Beware - CBEC Member
Inaugurating the Associated Chambers of Commerce and Industry of India (ASSOCHAM) Conference on Service Tax and CENVAT, Mr.P C Jha, Member, CBEC said that the government was finalising the two Masters circulars on technical and procedural issues and shall be issued on 3rd week of August. These were to be effective from 1st July 2007!
Quotes from Mr. Jha's remarks:-
1. Though the service tax collection during 2007-08 was expected to be Rs.50,200 crore as against Rs.37,500 crore in last year, the potential were very high and therefore the revenue department will take serious action against those also are deliberating violating the law.
2. The government is receiving feedback from industry and chambers circles and after studying the same will finaliase the master circulars.
3. This will remove many of the existing irritants and uncertainties and make procedures easy to understand and follow.
4. there is a need for better understanding and implementation of the service tax provisions by the field administration.
5. Government will take steps to ensure faster adjudication of service tax cases and also for providing a judicious discipline at the field levels.