Service tax disputes body in works

Rising instances of disputes over service tax claims has prompted the government to consider setting up a settlement commission on the lines of the ones in existence for income-tax and excise & customs.An announcement to this effect is likely in the Budget 2012-13.Settlement commissions are a mechanism where the differences between the tax authorities and the taxpayers are settled amicably, without necessitating litigation. These commissions have the power to grant immunity to assesses from prosecution, thus encouraging more people to approach it than go to appellate tribunals or courts.

Source: Financial Express