• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

K.R. Srivats

New Delhi, June 5

The Finance Ministry has come up with a dispute resolution scheme as a one-time measure for quick resolution of disputes involving small service tax amounts up to Rs 25,000.

However, cases involving non-payment of service tax after having collected the same from clients/customers are not included in the scheme. This compounding scheme would be in operation from July 1 to September 30. It would also not apply to cases where the tax arrears includes service tax amount of over Rs 25,000.

In a case where a pending show-cause notice involves a service tax amount up to Rs 25,000, with penalty or interest, amnesty under the scheme would be available on payment of an amount equal to 50 per cent of the service tax amount involved in the show-cause notice. The penalty and interest would stand waived.

More Stories on : Taxation

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Explosion at Panna-Mukta fields halts production

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line