Final chance to declare pending service tax dues
Final chance to declare pending service tax duesHyderabad, Dec 5 (KNN) Union Finance Minister P Chidambaram has urged tax payers to declare their pending service tax dues by the end of this year and pay at least 50 per cent dues on or before December-31.
Speaking during the inauguration of an interactive session with businessmen and tax payers here on Wednesday, Chidambaram said the Voluntary Compliance Encouragement Scheme (VCES) is an opportunity to come clean and make a fresh start.
Pending dues, he said, can be paid before 30 June 2014 without any interest while pending tax payments made after 30 June 2014 will attract interest.
The Finance Minister also asked all the 17 lakh service tax providers, who have voluntarily registered as service tax members to utilize this opportunity, mentioning that only 7 lakh out of 17 lakhs service tax providers have so far filed their declaration.
The government has so far arrested 15 persons for not paying service tax dues which they had collected from the users.
In this context, Chidambaram appealed to businessmen to ensure payment of service tax on time to avoid harsh penalty.
It was 16 years after VDIS (Voluntary Disclosure of Income Scheme) that the present scheme has been launched for Service Tax.
Union Minister of State for Finance and Central Customs and Excise, J D Seelam, Department officials and businessmen from various sectors attended the interactive session. (KNN)