http://www.hybiz.tv/J-M-Kennedy---Director--TRU-/167739
J. M. Kennedy, Director, Tax Research Unit, CBEC, Impact of Budgetary
Changes – Taxation of Services, KLN Auditorium, FAPCCI, Hyderabad,
Andhra Pradesh. The advent of GST should usher in uniform rates and
procedures and the taxes should be business neutral. Through this new
approach, the government is trying to define services by moving towards
negative list and exemption list; whether the activities are taxable or
not. The ‘positive list’ approach was being followed over the past 18
years and the service tax structure has become complex. The service tax
(regime) in India has matured and the sector now contributes 5.9 per
cent of the Gross Domestic Product. There was overlapping of definition
& classification of taxes in the older policies which was leading to
lot of confusion.
J. M. Kennedy, Director, Tax Research Unit, CBEC, Impact of Budgetary
Changes – Taxation of Services, KLN Auditorium, FAPCCI, Hyderabad,
Andhra Pradesh. The advent of GST should usher in uniform rates and
procedures and the taxes should be business neutral. Through this new
approach, the government is trying to define services by moving towards
negative list and exemption list; whether the activities are taxable or
not. The ‘positive list’ approach was being followed over the past 18
years and the service tax structure has become complex. The service tax
(regime) in India has matured and the sector now contributes 5.9 per
cent of the Gross Domestic Product. There was overlapping of definition
& classification of taxes in the older policies which was leading to
lot of confusion.
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