The Growth story of service tax as a revenue collection tool of the Central Government is absolutely breathtaking because no singular taxation has seen such a growth in the entire history of India in such a short span of time. Growth was brought upon by some deft management by the successive Finance Ministers and due the tax payer friendly policies imbibed in the law – but all this is now changing and some fatal changes are being brought in which are threatening the soft image of service tax laws. In a span of 14 years (since 1994-95) the collection of service tax has risen from a mere Rs. 410 Crores to Rs. 50603 crores as per the revised estimates for the year 2007-08.
We at N.J. Jain & Associates Chartered Accountants believe in equitable growth of the Service Tax a revenue collection arm. On the one side it must provide meaningful revenue to the Central Government but at the same time it must be hassle free for the tax payers. We endeavour to make the compliance as hassle free as possible. Read on and you will find that we provide all required services under one roof. We have also tied up with other professionals to provide all financial and taxation services under one roof.