Finance ministry''s four month old directives directive imposing service tax on using foreign telecom networks may finally go. 

The finance ministry in its August directive had said that receiving International Private Leased cercuit (IPSL) is chargeable under business support service.

The finance ministry is believed to have taken a decision to this effect after reviewing it thoroughly and is likely to issue the new directive soon. 

Both telecom firms and those in IT enabled services had  resisted the move as this have severely affect their cash flow resulting into the loss of crores of rupees through of payment of tax and interest for the past period.