GOVERNANCE
taxation tn pandey
Soft on tax evaders!
The `3,000-crore service tax collection through amnesty at the cost of the government’s credibility is not a good bargain
AN amnesty for service tax evaders was announced by the Finance Minister while presenting the Union Budget for the year 2012-13, saying:
“While there are nearly 17,00,000 registered assessees under service tax, only about 7,00,000 file returns. Many have simply stopped filing returns. We cannot go after each of them. I have to motivate them to file returns and pay the tax dues. Hence, I propose to introduce a one-time scheme called ‘Voluntary Compliance Encouragement Scheme’..... Read More
“While there are nearly 17,00,000 registered assessees under service tax, only about 7,00,000 file returns. Many have simply stopped filing returns. We cannot go after each of them. I have to motivate them to file returns and pay the tax dues. Hence, I propose to introduce a one-time scheme called ‘Voluntary Compliance Encouragement Scheme’..... Read More
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