Financial Daily from THE HINDU group of publications
Saturday, Jan 03, 2004
Financial Daily from THE HINDU group of publications Saturday, Jan 03, 2004 |
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Taxation Government - E-Governance Industry & Economy - Taxation E-filing of service tax returns extended to 58 services K.R. Srivats
New Delhi , Jan. 2 IN an assessee-friendly move, the Finance Ministry has extended the facility of e-filing of service tax returns to all the 58 taxable services. Hitherto, this facility was available only in respect of 10 taxable services including telegraph services, telephones, stock-brokers and advertising agencies, banking and financial services, life insurance services and courier services. The latest move of the Finance Ministry is expected to help the assessee through reduction in transaction costs. It would also improve compliance and at the same time reduce interface with the tax department, a revenue department official said. The Kelkar Task Force on Indirect Taxes had recommended measures such as e-filing of returns to improve compliance level and also reduce interface between the department and the assessee. The Central Board of Excise and Customs has in a circular made it clear that the facility of e-filing is optional and does not bar in any way the manual filing of the return by the service provider.
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