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Shri P. Chidambaram releases FAQ on service tax VCES says: Scheme a golden oppurtunity for defaulters to come clean
August, 09th 2013
                           PRESS INFORMATION BUREAU
                             GOVERNMENT OF INDIA
                                      *****


            SHRI P. CHIDAMBARAM RELEASES FAQ ON SERVICE TAX VCES

    SAYS: SCHEME A GOLDEN OPPURTUNITY FOR DEFAULTERS TO COME CLEAN


                                                              New Delhi: August 08, 2013


       Union Finance Minister Shri. P. Chidambaram released a booklet containing Frequently
Asked Questions (FAQ) on Service Tax Voluntary Compliance Encouragement Scheme, 2013 in
New Delhi today in the presence of Revenue Secretary, Chairperson and other members of
Central Board of Excise & Customs and media. He also released a Logo of Service Tax
Voluntary Compliance Encouragement Scheme, 2013 on the occasion. Speaking at the Event,
Shri Chidambaram said that the scheme offering "no penalty, no interest", provides one time
opportunity to the defaulters to come clean. He further said that over ten lakhs defaulters have
been identified. The Minister said that 1400 defaulters have already filed their declarations
amounting to Rs 650 crores. The Minister hoped that the scheme will result in substantial
disclosure by non-filers. The Minister exhorted the service tax assessees to make use of this
golden opportunity and pay their tax dues to avail immunity from interest, penalty and other
proceedings. He further said that the FAQs released today are based on inputs received from
various agencies and quarters and would be of immense use for the compliers.





       Service Tax Voluntary Compliance Encouragement Scheme (VCES) announced by the
Finance Minister in his Budget speech has come into effect on 10th May, 2013. The objective of
the scheme is to encourage disclosure of Tax dues and compliance of Service Tax law by the
persons who have not paid service tax dues for the period from Oct, 2007 to Dec, 2012, either on
account of ignorance of law or otherwise. On payment of the tax dues relating to the said period
there will be complete waiver of interest, penalty and other proceedings/ consequences.


       The Frequently Asked Questions (FAQ) booklet on VCES contains clarifications on
doubts and queries about the scheme. For ease of reference, the statutory provisions and the
VCES Rules containing the VCES forms are also included in the booklet.




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