Service tax is a comparatively new concept and is said to be the tax of the future.
For this reason, several service sectors seem to be experiencing future shock. A number of traders and professionals are uneasy with this new head to extract revenue introduced in the nineties by the present Prime Minister when he was finance minister.
Transporters, clearing agents and even marriage hall owners and caterers have unsuccessfully challenged the new levy up to the Supreme Court.
The latest of the assault was made by the tax practitioners themselves in the Supreme Court and they have failed to make any dent in the forward march of the service tax, which is encompassing new sectors with each annual Budget
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