voluntary compliance encouragement scheme, 2013
This query is : Resolved
13 November 2013
Period Covered for VCES: 01.10.2007 to 31.12.2012
But as per Section 73, time limit for issuing notice is 1 year/ 5 year.
As of today, going back dated Department can issue notice only for period from 01.10.2008(i.e., maximum 5 years) onwards.
My question is when department cannot serve you notice for period from 1.10.07 to 30.09.08, then why go for VCHS for that period?
If i am wrong anywhere, please correct.
But as per Section 73, time limit for issuing notice is 1 year/ 5 year.
As of today, going back dated Department can issue notice only for period from 01.10.2008(i.e., maximum 5 years) onwards.
My question is when department cannot serve you notice for period from 1.10.07 to 30.09.08, then why go for VCHS for that period?
If i am wrong anywhere, please correct.
13 November 2013
Dear Sumit,
Five years to be count from the "relevant date". See the definition of "relevant date" it covers many aspects. one of them is relevant date is date of filing of return.
Suppose some one has file delayed return for the period Oct-07 to Sept-08 and that date of filing of return fall under period of five years then department can issue him a notice.
Five years to be count from the "relevant date". See the definition of "relevant date" it covers many aspects. one of them is relevant date is date of filing of return.
Suppose some one has file delayed return for the period Oct-07 to Sept-08 and that date of filing of return fall under period of five years then department can issue him a notice.
Nikhil Kaushik
(Expert)
13 November 2013
Dear Sumit,
1. the period mentioned by you can anyways be covered under the notice when the VCES was launched as the due date for filing service tax return shall also be considered relevant date.
2. it is a voluntary disclosure scheme which gives opportunity for assessees to escape penalty provisions. So it is better that you advise clients to avail this opportunity instead of treading on thin ropes.
1. the period mentioned by you can anyways be covered under the notice when the VCES was launched as the due date for filing service tax return shall also be considered relevant date.
2. it is a voluntary disclosure scheme which gives opportunity for assessees to escape penalty provisions. So it is better that you advise clients to avail this opportunity instead of treading on thin ropes.
Message likes :
1 times
Nikhil Kaushik
(Expert)
14 November 2013
However, I do agree that in case the assessee makes voluntary declaration for period starting 1 October 2008, service tax department might not be able to question your declaration as false for the period upto 30 September 2008 after 25 October 2013.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Intimation under section 245
- ETDS return q4 25-26
- Tax on Amount transferred in HUF Account
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
