Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: ACCOUNTING STANDARD :: VAT Audit :: empanelment :: Central Excise rule to resale the machines to a new company :: TDS :: form 3cd :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARDS
 
 
Service Tax »
 India to levy service tax on freight for imports on delivered basis
 Income tax relief must be blended with additional tax measures
 9th GST Council inks breakthrough on dual control over tax payers, rollout deferred to July 1, 2017
 GST rollout uncertainty hits Budget 2017 calculations
 GST now set for July 1 roll-out, dual control hurdle finally over
 Grant of Registration under DVAT and CST
 Do not raise service tax, says Chamber
 Excise, service taxpayers to migrate to GST portal by Jan 31
 Centre, state governments work on formula for 'GST on high seas'
 What is service tax?
 Tax to bring transparency, benefit companies operating in state, says Gujarat CM Vijay Rupani

Government warns of tough action against service tax evaders
December, 31st 2013

In a stern warning to service tax evaders, the government today asked them to either pay their dues by tomorrow or face penal action which could include arrest andprosecution.

"I would like to advise that from January 1, 2014 stern action will be taken against service tax evaders and provisions in the Finance Act relating to arrest and prosecution will be enforced in right earnest," Revenue Secretary Sumit Bose told reporters here.

The Voluntary Compliance Encouragement Scheme (VCES), which came into effect from May 10, allows a service tax defaulter to pay dues without any penalty or late payment charges.

Under the scheme, a person may make a declaration to the designated authority on or before December 31.

Over 40,000 applications, involving tax amount of about Rs 5,500 crore, have been filed till December 29, Bose said.

In the last four days, the revenue department has received 16,000 application involving Rs 1,500 crore of service tax dues, as deadline for the first-of-its-kind amnesty scheme ends on Tuesday, the Revenue Secretary added.

He further said that today our offices will be open well beyond normal working hours. Tomorrow, our offices will be open till midnight to facilitate acceptance of declaration.
Finance Minister P Chidambaram recently said that schemes like VCES are rare opportunities which are unlikely to come again in the next 20 years. He had suggested tax evaders to take benefit of the amnesty scheme.

"Countdown has begun and the last date is December 31. Government has made a fair and generous offer, a one-time offer that is not likely to come your way for at least a couple of decades.

"Therefore, it is in the best interest of everyone to take advantage of the offer," Chidambaram had said. A defaulter may declare his tax liabilities, including the cess charges, for the period between October 1, 2007 and December 31, 2012 and pay it to the government after making a truthful declaration to avoid penalty, interest or any other penal proceedings.

The scheme was introduced by Chidambaram while presenting the Union Budget for 2013-14.

Of the 17 lakh registered assesses under Service Tax, only seven lakh were filing returns, Chidambaram had said. An evasion of service tax of Rs 50 lakh and above has now been made a cognisable offence after the passage of current fiscal Finance Bill on May 10.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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