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Govt to issue Comprehensive circular on service tax by mid-June

The government is likely to issue a comprehensive circular clarifying ambiguities over 100 services approx in the service tax net by mid-June 07. The circular will be issued by the Central Board of Excise & Customs (CBEC) and not the DG of service tax,according to the board member Mr P.C Jha as told to mediapersons at an Assocham seminar.He also said that the government is aware of inconveniences that trade and business have been facing on the service tax front due to ambiguities caused by large number of circulars. .

The comprehensive circular will replace all the present circulars and would enable taxpayers to obtain all information in a detailed and simplified manner. The 48 circulars issued since 1994 have been withdrawn and efforts are on to clarify all issues related to service tax in the new circular.

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