Service tax: Government mulls out-of-court deal
New Delhi: The government may be inclined for an out-of-court settlement in its dispute with banks over unpaid service tax dues to the tune of Rs 38,000 crore with officials indicating a more flexible stance to resolve the outstanding issues.
Sources in the government said that officials in the Finance Ministry may soon meet bankers to thrash out a compromise formula to resolve the issue that has divided the banking industry and pushed it into taking legal recourse.
A meeting proposed last month to resolve the issue could not take place and sources now say that all efforts are being made to organise the banker-official meeting this month so that a compromise is worked out well before the next date of hearing by the Delhi High Court in November. A meeting of bankers with Finance Minister Nirmala Sitharaman is also slated on Friday. (IANS)
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