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Service tax payers declare Rs 42 crore liability
January, 10th 2014

The Voluntary Compliance Encouragement Scheme (VCES), 2013, which was closed on December 31, 2013, evoked good response in Patna central excise and service tax commissionerate. The target for the commissionerate, having jurisdiction over entire Bihar, was Rs 7 crore but due to vigorous efforts of the department officers, 497 applications declaring service tax liability amounting to Rs 42.16 crore were received of which Rs 22.71 crore were deposited up to December 31, which is 502% more than the target fixed for the commissionerate.

Central excise and service tax additional commissioner (headquarters), V C Gupta, said stern action has been be initiated against service tax evaders from January 1, 2014, onward by way of survey and search operations. "The service tax revenue realized during April to December 2013 is Rs 281 crore whereas the revenue collected during corresponding period in the last financial year was Rs 197.03 crore, which is 43% more of the previous year," he said.

Gupta said, "This scheme is a golden opportunity for tax evaders to pay all tax dues from the period October 1, 2007, to December 31, 2012, without interest, penalty and other legal proceedings including prosecution."

Under the scheme, which came into effect following enactment of the Finance Bill 2013, any person who has service tax dues to declare can make a declaration in terms of the provision of the scheme. If such person does not have service tax registration, he will be required to take registration before making such declaration.

 
 
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