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of <h1>India's Audit Report Reveals Major Service Tax Compliance Issues and Discrepancies for 2007-08; Calls for Rule Amendments.</h1> The Comptroller and Auditor General of India's report on indirect taxes highlights service tax compliance issues for 2007-08. It covers tax administration, trends of receipts, and outstanding demands, revealing significant discrepancies in projected versus actual tax receipts and numerous pending cases. The report identifies fraud cases, with only partial recovery of evaded taxes and penalties. It discusses the impact of audit findings on revenue, leading to amendments in tax rules. The report also examines issues like incorrect Cenvat credit claims, non-payment of service tax, and misclassification of services, recommending amendments to address these issues and improve compliance.
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