Industry & Economy
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Taxation
Panel set up to review service tax circulars
Our Bureau
New Delhi
,
May 24
The Government has decided to constitute a committee under Mr T.R. Rustagi, Chief Commissioner of Central Excise (retd), to review all the service tax circulars since 1994 and come up with recommendations to weed out the redundant circulars in the wake of legislative changes in service tax over the last decade.
"There have been a number of circulars on service tax issued from 1994. The law has undergone several changes over the last decade. Some of the circulars may not be relevant now. This is creating problems for users. It is receiving our attention," Mr R. Sekar, Joint Secretary, Ministry of Finance, said at a PHDCCI seminar on management of service tax here on Wednesday.
Formal order soon
He indicated that the Finance Ministry would soon issue the formal order on the appointment of the one-man committee.
While highlighting that service tax is a nascent and evolving law, he acknowledged that the law has undergone too many changes in the last two years.
Currently, about 96 services are under the service tax net.
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