Service tax: Experts explain changes

A workshop on service tax was organised by the Department of Central Excise and Service Tax at Ambedkar Institute of Hotel Management,Sector 42,on Tuesday.

The workshop was held to highlight the changes in the service tax. Representatives from different segments like banking,industry and hospitality who are required to pay service tax were present.

Sheila Sangwan,member (service tax),Central Board of Excise and Customs,New Delhi,presided over the workshop. A presentation on the changes that have been brought about in the system was made.

The Budget for the financial year 2012-13 brought about some changes in the system of taxation. Under the new system,all the services apart from those under the negative list would be subjected to taxation. This has brought about a lot of services under the purview of service tax. There were some difficulties that were being faced in the previous system. There was a lack of systematic coverage that led to litigation.

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