Union Government sets aside Rs 10000 crores service tax demand notices on IT firms

Posted on:13 Dec 2017 09:31:07
Union Government sets aside Rs 10000 crores service tax demand notices on IT firms
13 December 2017 Current Affairs: In a relief to IT companies, the union government set aside a 10,000 crore rupee service tax demand notices on IT companies.

The Finance Ministry, as a result, apprehensions about the negative effects on the software industry are without basis.

The government's move came a day after IT companies raised the issue of tax demand with Finance Minister Arun Jaitley during the pre-budget consultations.

The tax department had slapped service tax demand notices on about 200 information technology and IT-enabled services companies.
In a relief to IT companies, the union government set aside a 10,000 crore rupee service tax demand notices on IT companies.

The Finance Ministry, as a result, apprehensions about the negative effects on the software industry are without basis.

The government's move came a day after IT companies raised the issue of tax demand with Finance Minister Arun Jaitley during the pre-budget consultations.

The tax department had slapped service tax demand notices on about 200 information technology and IT-enabled services companies.

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