The scheme will not be applicable in cases involving wilful mis-statement or suppression of facts. Further, the Budget has also simplified the delayed payment of duty. Interest on delayed payment of duty, however, will now be charged from the first day of the month succeeding that in which duty ought to have been paid. The CBEC is also contemplating to issue clarifications in regard to methods for calculating service tax from various services in coming weeks. Officials said that only the service fee came under the service tax mechanism and any confusion regarding taxation of other activities performed by the service providers was unfounded.
Some anomalies are also likely to be removed.
Sources said that fertiliser units using lean gas will now have a price advantage over the units using CNG which needed to be removed. All Rights Reserved.