Financial Daily from THE HINDU group of publications
Thursday, Feb 16, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 16, 2006 |
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Industry & Economy
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Taxation `Service tax inflow may touch Rs 23,000 crore' Our Bureau
Chennai , Feb 15 SERVICE Tax collections are expected to cross the Rs 23,000-crore mark this year, against the all-India target of Rs 20,000 crore, Mr K.P. Singh, Director General of Service Tax, said at a press conference here today. He said that collections until February 11 amounted to Rs 17,620 crore. Mr Singh said that various service tax commissionerates would launch a special drive towards collecting the tax. He urged the assessees to come forward to pay the tax and warned of action against defaulters. He noted that Hyundai Motor India Ltd, on being told of a service tax liability of Rs 8 crore, had paid the amount. The tax related to engineering and consultancy services that the company had availed of from its parent company in Korea. Mr Singh stressed that building and construction activities attracted service tax. Similarly, all kinds of maintenance and repairs, including software, came under the purview of the tax. He said that he had written to chiefs of hundreds of corporates, including public sector undertakings, to sensitise them of the tax liability. The service tax department was also in touch with all the airlines to collect the tax on all services, including the service of sharing the data on availability of seats. . He wanted those companies that availed of services from foreign companies to provide details of the service tax paid, to the department. Mr Singh also stressed that the tax for services availed of in March should be paid in that month itself.
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