VCES scheme of service tax - A safe way to declare the service tax liability
VCES scheme is going to end by 31st dec 2013. I request all the assessee to take benefit of this scheme. This is very safe scheme to disclose the service tax liability missed out & there is no interest, penalty & any other legal consequences. This includes a very simple procedure.
It was a good attempt by government to fill its empty treasury. Lot of assessees too benefited from this.
But still feel the conditions to avail this scheme were not flexible as the service providers who filed the return were not able to avail the benefit of scheme.
The much concentration of this scheme was on unregistered service providers, i believe (It was very difficult for government to issue notices to these).