Advisor to the finance minister Parthasarathi Shome on Wednesday met industry leaders to sort out differences and address concerns regarding tax between the government and industry, reports CNBC-TV18's Aakansha Sethi.
Also Read: Service tax dept finds over 700 Mumbai hotels evading tax"The IT industry wants some indications of a safe harbour. The representatives from the sector had many concerns but chief among them was a domestic safe tax harbour. Industry representatives also raised concerns regarding reinsurance. Since most of them export and some of them are intermediaries placed in India, due to the government’s supply provision rules, it is interpreted as though it is domestic," Shome told CNBC-TV18.
Shome adds, "Many issues were raises and it is not as though everything will be resolved today or tomorrow. Everything will be considered very briskly. The finance minister's objective is to look at them very quickly and smoothen out some of these difficulties."
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