CBEC solicits views on service tax circulars

New Delhi, June 19 (UNI) In a bid to carry out major simplification of service tax related issues, the Government today sought views of various stake holders on two draft circulars to achieve this end.

The circulars relate to technical and procedural issues and the Ministry of Finance gave an indication that it would incorporate the existing clarifications in the final circulars in this regard.

The draft circulars have been posted on the CBEC website (www.cbec.gov.in). These circulars have taken into account the report submitted by the T R Rustagi Committee as well as views and suggestions received from the trade and industry associations, Departmental officers and others.

Mr Rustagi was former Chief Commissioner of Customs&Central Excise, and the Committee headed by him undertook a review of the clarifications.

The Central Board of Excise and Customs solicited views, comments and suggestions on the draft circulars, particularly suggestion for inclusion of any additional issues in the proposed circulars.

Comments have been sought from trade and industry associations and departmental officers. The views, comments and suggestions should reach the Board on or before June 29, 2007.

An official release here said the government will issue two comprehensive circulars after taking into account the views expressed on the draft circulars. The proposed circulars will supersede all circulars, clarifications and communications issued from time to time by the CBEC, D G (Service Tax) and various field formations on issues relating to Service Tax.

The government has decided to undertake a comprehensive review of all the clarifications issued in various forms since the introduction of service tax taking into account the changes in the statutory provisions, judicial pronouncements and other material factors.

UNI