Date:29/04/2005 URL: http://www.thehindubusinessline.com/2005/04/29/stories/2005042901021900.htm

Back Kanara Chamber plea on service tax

Our Bureau

MANGALORE: The Kanara Chamber of Commerce and Industry (KCCI) has urged the Union Government to reinstate the earlier system of payment of service tax due by 25th of the succeeding month.

In a letter to the Union Finance Minister, it said the April 1 order of the Government states that service tax due must be remitted by the 5th of the succeeding month. This may cause inconvenience to the traders and industrialists.

In such a situation, the Government should issue an order reinstating the earlier system of payment of service tax due, the letter added.

In a separate letter to the Karnataka Finance Minister, the KCCI said more time should be given to the trade and industry to submit closing stock statement of the financial year ended March 31. Though the Government has given 30 days time till April 30, it should be extended to 90 days, the letter said.