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of <h1>Ministry of Finance Urges Audit on Services with Low Revenue Growth: Telecom, Banking, Insurance, and More.</h1> The circular from the Ministry of Finance addresses the need for an in-depth revenue analysis of selected taxable services to enhance revenue collection. It highlights that certain services, including telecom, stock brokers, insurance, air travel, broadcasting, and banking, are showing negative or marginal growth despite significant revenue potential. The circular urges a focused audit and scrutiny of these services to identify reasons for low growth and suggests using third-party data for comparison. Reports on actions taken and results are to be submitted to the Directorate General of Service Tax by specified dates, with oversight by the Secretary (Revenue).
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