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: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: form 3cd :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: VAT RATES :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: empanelment :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
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 warns service tax evaders, says VCES a last chance
December, 07th 2013

Union Finance Minister Chidambaram warned the service tax evaders saying the current amnesty scheme closes by month-end and that no further chances will be provided to comply with the tax regulations.

Addressing the trade bodies in Hyderabad on Wednesday, the Finance Minister said the Voluntary Compliance Encouragement Scheme (VCES) will be the last opportunity given to tax evaders so that they can come clean and make a fresh start. He said similar amnesty was provided way back in 1997 and advised the service providers not to expect another such offer within the next 20 years.

Warning the tax evaders that the tax department was smarter to bring evaders into the tax net anytime, Chidambaram said of about 17 lakh registered persons in the services sector that contributes about 57% to the Indian GDP only 7 lakh actually paid tax. The remaining ten lakh service providers who did not pay taxes were classified as 'no-filers' and 'stop-filers'.

"You will find that the department is cleverer than the no-filers and stop-filers. You might get away months and years. But, ultimately the law will reach you and the law will bring you into the tax net," said Chidambaram.

Saying that service providers cannot see a fair scheme than VCES, the finance minister said, "No interest, no penalty, no prosecution. I think this is a generous scheme. So utilize it and take advantage of it."

Under VCES, which came into effect from May this year, the service providers can clear their dues from October 1, 2007 to December 31, 2012 without interest, penalty and prosecution. The government has also offered a facility to service providers pay the due amount in instalments without any interest.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual 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