Latest Expert Exchange Queries

Make 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) | 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: cpt :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TDS :: empanelment :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: VAT Audit :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: list of goods taxed at 4%
 
 
Service Tax »
  Central Goods and Services Tax (CGST) Rules, 2017
 Goods bought with loyalty points will face tax under GST
 substitution of Service Tax by Goods and Services Tax (GST)
 Income Tax: TDS deducted but ITR not filed? Here's what professionals need to do
 9 ways GST could impact home buyers
 Consumers hailed GST, but there's need for awareness'
 Tax departments keep a close watch on prices post GST rollout
 GST effect: 5 things that changed after the new tax regime
 GST is no game changer for farmers, yet
 GST: Government bets big on tech to ensure e-way bill does not bring back inspector raj
 Government to keep an eye on price rise & GST glitches

About Rs 8,000 crore service tax evasion detected during 2013-14: Report
April, 07th 2014

With increased focus on revenue generation from service tax, officials have detected several cases of tax evasion amounting to about Rs 8,000 crore during 2013-14 fiscal which ended last month.

Finance Ministry officials said service tax was being evaded by a number of small and big service providers across the country through non-filing of mandatory returns, wrongful declaration of amounts collected by them and other means. The Directorate General of Central Excise Intelligence (DGCEI) had registered 1,144 cases of service tax evasion during 2013-14. The amount involving the cases of service tax evasion was Rs 7,928.22 crore during the period, they said.

The service tax detection amount of about Rs 8,000 crore does not include cases registered at various service tax and excise commissionerates and other allied offices across the country, the officials said.

"Service tax has been an focus area for the government. A number of service tax evasion cases has been registered across the country during the last fiscal," a Finance Ministry official said. The DGCEI had detected 841 service tax evasion cases involving government's revenue of Rs 4,693 crore in 2012-13. The Directorate had realised Rs 880 crore from these cases, they said.

According to a Finance Ministry data, there has been an increase of over 300 times in revenue collection from service tax in the past two decades. The ministry had collected Rs 1.32 lakh crore as service tax revenue during 2012-13 as against Rs 407 crore in 1994-95, it said. About Rs 97,509 crore of service tax revenue was collected during 2011-12.

The tax officials are taking strict action against all evaders after a first-of-its-kind amnesty scheme for service tax defaulters ended in December last year. The Voluntary Compliance Encouragement Scheme (VCES), which was implemented from May 10 last year, was announced by Finance Minister P Chidambaram to allow a service tax defaulter to pay dues without any penalty or late fees.

Under the scheme, a person was to make a declaration to the designated authority on or before December 31, 2013. A total of 66,062 applications were received under the VCES scheme, amounting to a tax collection of Rs 3,961.51 crore, as per the ministry's data.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Wholesale Silver Jewelry

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