MoU signed between ICAI and CBEC

MoU signed between ICAI & CBEC

ICAI is pleased to be a facilitator of Finance Ministry�s e-initiative whereunder the practicing members of ICAI will provide facility of e-filing of returns and documents to Central Excise and Service Tax assessees through Certified Facilitation Centres. ICAI has signed Memorandum of Understanding (MoU) with the CBEC on March 31, 2010.

Central Board of Excise and Customs had introduced "Automation of Central Excise and Service Tax� (ACES) program to improve tax-payer services. ACES is a centralized web based application which enables the assesses to electronically interface with the department. It aims to reduce paperwork, transaction costs and increase accountability, efficiency and transparency.

The MOU is a step forward towards association of The Institute of Chartered Accountants of India with the Government of India. This initiative will immensely help all those assessees who may not have the requisite IT infrastructure / resources, to use ACES. With this MOU, the members can not only provide services as envisaged, but would also provide other services on request of the assessees.

This MOU opens a new professional avenue for the Members as they can now provide services to the assessees of Central Excise and Service Tax in filing their returns and other documents electronically under ACES.

The Institute of Chartered Accountants of India is in the process of setting up utility for online filing of application by members to obtain certificate under the scheme whereupon CBEC will provide user name and password to members to activate the facility. Members of the ICAI are spread across the country and this initiative will facilitate e-filing of returns and documents by assesses in every part of the country. A Certified Facilitation Centre (CFCs) is a facility, other than the physical front offices or Facilitation centres of CBEC, which will be set up and operated by practicing Chartered Accountants in individual capacity or as proprietor or firm. An assessee is required to pay nominal fixed fees (maximum Rs 600/- for entering return data and Rs.200/-per return for uploading returns with ACES) for availing services of CFCs.

The major points of the MoU are annexed.

Major Points of the MoU