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: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: TDS :: cpt :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: list of goods taxed at 4%
 
 
« Service Tax »
 Credit Note And Debit Note Under Gst
 Demonetisation hits service tax, excise duty collection
 GST on a knife-edge as states act tough
 Parliament Winter Session: Govt keen on proper discussion on GST Bills
 Service Tax revision to make digital content expensive: Here’s how it will impact you
 GST Council may reduce tax slabs in future: CBEC chief
 Govt to waive service tax on card transactions up to Rs 2,000
 Recovery Of Tax Under Model Gst Law
 Income Tax officials hunt for Mumbai’s ‘ghost’ assessee
 GST delay to impact Budget
 If GST not rolled out by Sept, there won't be taxation in country, warns Jaitley

No extension of service tax voluntary compliance scheme
August, 27th 2013

There will be no further extension of the recently-launched Service Tax Voluntary Compliance Encouragement Scheme which expires on December 31, according to Sheila Sangwan, Member (Budget) of Central Board of Excise and Customs.

Speaking at a meeting on the scheme here today, she urged trade to make use of this one-time amnesty scheme and clear its tax dues.

The scheme was launched to enable the trade to clear service tax dues from October 2007 to December 2012. The scheme provides immunity from payment of interest.

Sangwan also said there would be no further amendments to the scheme. “We have set a growth target of 36 per cent from the current level of about 15 per cent,” she said, adding that the scheme would go a long way in meeting this target.

She said the scheme gave adequate time to the trade to raise the required finances to clear the tax dues. She also said that the Department would provide acknowledgement within seven days of the date of filing.

The meeting was informed that the scheme could fetch about 10 per cent of the service tax collections this fiscal. The scheme, if marketed adequately, could garner about Rs 10,000 crore on a conservative basis.

Members of the trade raised several issues and doubts such as Cenvat credit for the period and whether a declaration can be made under the scheme in respect of Cenvat credit.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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