Envisaging a wider role for professionals, Company Secretaries have asked the government to make mandatory issuance of a service tax compliance certificate by companies. "Service tax compliance certificate by a competent independent professional will assure the revenue authorities that assessees responsible for collection and payment of service tax have complied with all the legal provisions and that there is no avoidance of service tax," Institute of Company Secretaries of India said.
In a pre-Budget memorandum to the government, ICSI said an amendment should be made in the Finance Act, 1994, by insertion of a new section providing for issuing of Service Tax Compliance Certificates.
"These should be issued by professionals like practicing Company Secretaries, Chartered Accountants, Cost Accountants, etc," it said.
The body also sought to widen the role of Company Secretaries by demanding that they be treated at par with professionals like Chartered Accountants, MBAs and advocates when considering Customs House Agents Licencing Regulations, 2004.
"Their strong curriculum has made them versatile in customs procedures and practices. They are well equipped in carrying on the business as Customs House Agents," it said, demanding that Company Secretaries be allowed to be an applicant for the purposes of the said regulations and recognised like the other professionals.
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