Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT RATES :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: cpt :: ACCOUNTING STANDARDS :: empanelment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: form 3cd
 
 
Service Tax »
 Further clarification to Circular No. 1/2017 - GST dated 21st July, 2017.
 GST Return Filing: How to handle discounts and additional cost
 GST base looks set to be at least 25% wider than earlier tax regime
 Businesses struggle with multiple tax rates, returns
 Common use items exempt from e-way bill provision under GST
 Goods And Services Tax Sends Taxes Racing
 How GST lesson can unleash untapped potential of education sector in India
 Services sector PMI falls most in 4 years on GST
 Missing column in GSTR 3B form leaves input claims a shaky edifice
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
 GST not easy to implement but tax base expansion will benefit all

P Chidambaram asks service tax evaders to pay up
November, 12th 2013

Finance minister P Chidambaram sent out a stern message to tax evaders to come clean and pay their due taxes, warning that authorities were well equipped to catch them.

"Tax evaders may get away for a week, a month, year...We will eventually get you..There is no advantage in not paying taxes," Chidambaram said addressing an interactive meeting with industry on voluntary compliance encouragement scheme (VCES), here on Monday.

The minister said tax authorities had details about various financial transactions, permanent account numbers and sophisticated software to capture data from various sources to nab tax evaders.

"There are dedicated people creating profiles of economic offenders...Once you come on the radar then you are watched," he said, emphasising that service providers who had stopped filing their returns and making tax payments were indeed treading on dangerous territory.

Chidambaram is meeting industry in metros to pitch for the VCES that he unveiled in the budget this year.

He said the response to the scheme, which offers waiver from interest, penalty and prosecution along with confidentiality of returns, has been good and added that those willing to take advantage of the plan should not wait for it until the December-end deadline.

"Here is the last opportunity this government has given you....," he said, asking service providers to take advantage of the scheme.

The minister said the service tax was implemented in a benign manner in the beginning and harsh provisions of central excise were not incorporated in it to encourage service providers to come into the fold of the new tax. Arrest provision has only been brought in now after it was seen that many service providers would collect tax but not deposit it with the government. Tax authorities have arrested 10 offenders who were found to have collected tax in excess of 50 lakh from consumers but did not deposit it with the tax department. "..We arrested to send out a stern message," he said.

Of the over 17 lakh service providers registered with the service tax department, only 7 lakh pay tax.

"We have reached the tipping point where we have to pause, take stock, talk to you, offer a fair and generous transition method and persuade as many of you to come over to paying taxes before the tax is enforced in a strict manner...VCES is just that. The one who has not paid service tax to draw a curtain on the past and move on to a new chapter in his business," he said.

Service tax, which was introduced in 1994 on three services, is levied on all services except those in the negative list or specifically exempted since 2012.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions