Please help...
Under VCES is following person eligible...???
Return has been filed with NIL tax Duty....but now declareant want to pay tax for the ruturn period...
Damm urgent
Amrin
(Chartered Accountant)
(215 Points)
Replied 14 December 2013
As per the provision the person who has filed return and disclosed his true liability but has not paid the disclosed amount of service tax shall not be eligible to make declaration of Tax dues.
So in case the assessee has hidden its liability then VCES wont be applicable for him, but if its not concealment of income then He can opt for VCES.
Manoj Agarwal
(Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com)
(3456 Points)
Replied 14 December 2013
Yes, benefit of VCES can be taken by disclosing the true liability and paying taxes.
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