The Central Board of Excise and Customs (CBEC) today bought out a revised list of those services, which it plans to exempt through a creation of a negative list of services. Infrastructure projects will attract service tax... hospitals are kept out of the net.
Speaking to SK Goel, Chairman of CBEC said "We had invited debate on August 31, 2011. A lot of debate has been generated and we have received very good ideas. Accordingly, we have modified the proposed negative list."
He further said, "We are inviting comments again up to December 15. After those comments are received, we will have to again study and then take a call at that point of time."
The other issue, he said, is whether to introduce it immediately or wait for GST. He said that is also a matter of concern.
"There is difference of opinion. Some people are happy that it can be done right away because it will help in introduction of the GST even if it takes little longer time. Others have suggested that we should wait till GST comes. So, we have not taken any decision yet," he divulged. Below is a verbatim transcript of the interview. Also watch the video. Q: How strong is the possibility that it will be introduced in the Budget?
A: That it is still a matter of debate and no decision has been taken on this. Q: The revised discussion paper, what does it add that the first discussion paper did not have and how has your stance on the negative list in GST changed?
A: We have clarified that only economic activity will be covered. Anything, which is non-economic activity, will go in the negative list. That
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