« Top Headlines » Open DEMAT Account in 24 hrs  5 major changes in the last 6 months every taxpayer should know!  Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch  Top 10 income tax changes from 2024 to look out for while filing ITR in 2025  15 income tax rule changes in 2024 that will impact your ITR filing in 2025 «  No tax sops for port-turned SEZs... Efforts to simplify service tax... » Service tax rules to converge from June May, 31st 2007 The revenue department is expected to release two circulars mentioning details of all 100 services under the service tax net and related procedures in a simplified manner by mid-June.    The comprehensive circulars will replace all the present circulars and will enable tax-payers to access required information in a detailed and simplified manner, Central Board of Excise and Customs (CBEC) member PC Jha said at an Assocham seminar today.    One circular will describe the scope of services while the other will explain the procedures. Service Tax Commissioner Gautam Bhattacharya said the circulars would be based on the recommendations of the Rastogi Committee.    The new circulars are in final stages and will be issued by mid-June after clearance by Finance Minister P Chidambaram, he said. The CBEC has already withdrawn 48 circulars that have no relevance. Despite this, there are 120-130 circulars.    Jha said that in future, all circulars would be issued only by the CBEC, unlike in the past when the Director General Service Tax also used to came out with circulars.    Bhattacharya said seven new services included in the service tax net from June 1 this year were expected to fetch Rs 8,000-9,000 crore this fiscal.