Nagpur News: Vidarbha Industries Association and Nagpur Branch of WIRC of ICAI jointly organized a presentation on “Service Tax Voluntary Compliance Encouragement Scheme” on Thursday 29th August 2013 at VIA Hall.
Smt. Jagjitji Pavadia Chief Commissioner of Central Excise & Service Tax was the Chief Guest while Shri S Ramesh Commissioner of Central Excise and Service Tax was present as a Guest of Honour. Prominently present on the occasion were Vikram Wani, Joint Commissioner of Central Excise and Service Tax, and Smt.Shraddha joshi Sharma, Deputy Commissioner of Central Excise and Service Tax.
Shri Ashishji Chandan, Addl. Commissioner of Central Excise and Service Tax presented the VCES scheme in a simplest possible manner whereas CA. LalitjiLoya expressd the view on the issues & concerns of the Industry& Trade about the schemes.
S. Ramesh, Commissioner of Central Excise and Service Tax in his presentation informed about the applicability of the schemes and said that those Assesse who have failed to pay Service Tax between October 1, 2007 and December 31, 2012, can make use of the Voluntary Compliance Encouragement Scheme, 2013.
In his presentation, Shri Ashishji Chandan explained about the feature of schemes. He emphasized that the person opting under the scheme will get immunity from interest, penalties and other proceedings. The benefits of this scheme would be available to those who have defaulted or evaded payment in the past can avail benefits of the scheme by paying at least 50 per cent of the dues before December 31, 2013, while the rest can be paid before June 30, 2014, without interest and by December 31, 2014, with interest.
He further explained the inception about the scheme by the Finance Act-2013, primarily for Non Filers and Stop Filers, who have unpaid Tax dues to declare. He informed about the legal provisions who will be penalized under Section 104 to 114 of Finance Act 2013. He also informed about the Procedure for availing this scheme, Step 1: If the declarant is not registered, then he is first required to get himself registered and then apply for this scheme. Step 2: After registration, the declarant shall make a declaration in Form VCES-I to the designated authority before 31.12.2013. Step 3: On receipt of VCES, the designated authority will issue acknowledgement of declaration in Form VCES-2 within 7 days from the receipt of declaration. Step 4: Pay at least 50% of tax dues by 31.12.2013 – balance by 30.6.2014. If 2nd installment not paid by 30.6.2014, pay by 31.12.2014 along with interest from 1.7.2014. Step 5: On full payment of taxes, the designated authority will issue final discharge acknowledgement certificate in VCES-3 within 7 working days from the date of furnishing of details of tax dues in full along with interest if any.
Summing up his presentations he gave the participants IMPORTANT POINTS of this VCES Scheme: Cenvat credit cannot be utilized for payment of dues, If at least 50% of the declared tax dues are not paid by 31.12.2013, the person will not be eligible for the scheme, For bona fide amendment in declaration, amended declaration can be filed with permission of designated authority.
Chief Commissioner smt. Jagjitji Pavadia covered about the benefits of VCES & assured Immunity from – interest, penalty, late fee & other proceedings under Service tax law. She further informed that on issuance of final acknowledgement of discharge, no matter shall be opened thereafter in any proceedings before any authority or court relating to the period covered by such declaration.
Prafullaji Doshi, expressing his concern about the number of tax laws to be complied by the industrialist, have appreciated the VCES Scheme.
CA. Ashokji Chandak, in his remarks, appealed the members present to take the benefit of the schemes. CA. Swapil Agrawal, Chairman of the Nagpur Branch of WIRC of ICAI, has appreciated the efforts of the Department in popularizing the scheme.
A large no. of Industrialist, Businessmen, traders, CA and all service tax payers attended this programme and took advantage of the valuable guidance and workshop organized by three Forums VIA, ICAI & Department of Service Tax.
At the Outset, Introduction & Floral welcome of Jagjit Pavadia, Chief Commissioner of Central Excise and Service Tax was done by CA Kirit Kalyani & Prafull Doshi, President-VIA, Introduction & Floral welcome of S. Ramesh, Commissioner of Central Excise and Service Tax was done by CA Swapnil Ghate & Rohit Agrawal, Hon. Secretary- VIA, Floral welcome of Ashish Chandan, Additional Commissioner of Central Excise and Service Tax was done by Anil Parakh, Vice President-VIA, Floral welcome of Vikram Wani, Joint Commissioner of Central Excise and Service Tax was done by CA O. S. Bagadia, EC Member of VIA. Floral welcome of Shradha Joshi Sharma, Deputy Commissioner of Central Excise and Service Tax was done by CA Sandeep Jotwani.
CA. Kirti Agrawal, Secretary- Nagpur Branch of WIRC of ICAI proposed a formal of Thanks. CA.Naresh Jakhotia, Convener of VIA Tax & Corporate Law Forum conducted the proceeding. Other Prominent VIA Members who were present were Vithaldas Tapadiya, Vice President, VIA, Kush Bajaj, Joint Secretary-VIA, O. M. Jajodia, VIA and other members of VIA.
Sitting on the Dias from left to Right: Naresh Jakhotia, Lalit Loya, S. Ramesh, Prafull Doshi, Jagjit Pavadia, Ashok Chandak, Ashish Chandan & Swapnil Agrawal.