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Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
Vces   overview & faq 2013 - ca bimal jain
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Vces overview & faq 2013 - ca bimal jain

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  • 1. Service Tax Voluntary Compliance Scheme, 2013 (VCES) – Overview & FAQ Bimal Jain FCA, FCS, LLB, B.Com (Hons) Co-Chairman of IDT of PHD Chamber of Commerce Member of IDT of FICCI/ Assocham Special Invitee of IDT of ICAI/ ICSI Member of Indirect Tax faculties of ICAI/ICSI/ICWAI
  • 2. SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES) – CHAPTER VI CA Bimal Jain www.simpletaxindia.net2  Launched  Registered Assessee: 17 Lakhs – ST Return Filed: 7 Lakhs  SSI (Rs.9-10 Lakhs) / Surrender STC  Eligible Person: - • Non Filers/ Stop Filers • No Notice or an Order U/S 72 (Best Judgment) or U/S 73 (Taxes not levied/ not paid or short levied/ short paid or erroneously refunded) or U/S 73A (ST collected to be deposited with CG) has been issued or made before the 1- 3-2013
  • 3. SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES) – CHAPTER VI CA Bimal Jain www.simpletaxindia.net3  Ineligible Person:- • Filed Truthful Return but not deposited ST • Inquiry or investigation initiated by way of — (i) Search of premises U/S 82 of Finance Act, 1994 (ii) Issuance of summons U/S 14 of CE Act, 1944 (iii)requiring production of accounts, documents or other evidence or • Audit has been initiated,  Such inquiry, investigation or audit is pending as on 1-3- 2013
  • 4. SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES) – CHAPTER VI CA Bimal Jain www.simpletaxindia.net4  Period for Declaration: From October 1, 2007 to December 31, 2012 on or before 31-12-2013  Pay at least half of that dues before December 31, 2013; remaining half to be paid by: (a)June 30, 2014 without interest; or (b)By December 31, 2014 with interest from July 1, 2014 onwards;  Pay Normal liability from January, 2013 as normally being paid under the present law  No Refund of payment made under VCES
  • 5. SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES) – CHAPTER VI CA Bimal Jain www.simpletaxindia.net5  Immunity from Interest/ Penalty/ Other Proceedings  Consequences of not paying declared Amount: To be recovered as Arrear of land revenue by attaching movable and immovable properties  Consequences of not making True declaration: Where Commissioner of Central Excise has reasons to believe that the declaration was substantially false, serve notice to show cause why he should not pay the tax dues not paid or short-paid.  No action shall be taken after the expiry of one year from the date of declaration.
  • 6. SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES) – CHAPTER VI CA Bimal Jain www.simpletaxindia.net6  Form of Declaration of Tax dues in Form VCES -1  Form of Acknowledgment of Declaration by the designated authority in Form VCES -2, within a period of seven working days from the date of receipt of the declaration  Form of Discharge Certificate by the designated authority in Form VCES – 3 upon payment of Tax dues declared  Any person, if not already registered, take registration Rule 4 of STR  CENVAT Credit cannot be utilized for payment of service tax under this scheme;
  • 7. SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES) – CHAPTER VI CA Bimal Jain www.simpletaxindia.net7  Cenvat credit on Inputs/ Input Services for declaration of Tax dues under VCES  Cenvat credit available for tax dues paid under reverse charge provided it is Input Service  Rejection under the VCES is appealable on principles of natural justice  Any amount paid in excess under VCES scheme be adjusted against the future Service tax liability
  • 8. SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES) – CHAPTER VI CA Bimal Jain www.simpletaxindia.net8  Section – 104 Short title  Section – 105 Definitions  Section – 106 Person who may make declaration of tax dues  Section – 107 Procedure for making declaration and payment of tax dues  Section – 108 Immunity from penalty, interest and other proce proceeding  Section – 109 No refund of amount paid under the Scheme  Section – 110 Tax dues declared but not paid  Section – 111 Failure to make true declaration  Section – 112 Removal of doubts  Section – 113 Power to remove difficulties  Section – 114 Power to make rules
  • 9. SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES) – Rules CA Bimal Jain www.simpletaxindia.net9  Rule 1 Short title and commencement  Rule 2 Definitions.  Rule 3 Registration.  Rule 4 Form of declaration  Rule 5 Form of acknowledgment of declaration.  Rule 6 Payment of tax dues.  Rule 7 Form of acknowledgement of discharge  FORM Declaration under sub section (1) of section 107 of the Finance Act, 2013  FORM VCES-1: Declaration u/s 107(1)  FORM VCES-2: Acknowledgment of declaration issued u/s 107(2)  FORM VCES-3: Acknowledgement of Discharge issued u/s 107(7)
  • 10. SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES) - OBSERVATIONS CA Bimal Jain www.simpletaxindia.net10  Biased to Honest Assessee – All India Federation of Tax Practitioner & Anothers Vs. UOI – [1998 (2) SCC 161]  No Secrecy clause as to confidentiality of information  Declared tax dues subject to approval by designated authority – Neutral & fair
  • 11. For More details – Guide toFor More details – Guide to SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES) CA Bimal Jain www.simpletaxindia.net11
  • 12. CA Bimal Jain F-30/31/32, Pankaj Grand Plaza 1st Floor, Mayur Vihar, Phase–I, Delhi – 110091 India Desktel:+91-11-22757595 Mobile:+91 9810604563 bimaljain@hotmail.com

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