Chartered Accountants

SERVICE TAX VCES, 2013 – CLARIFICATIONS

The Service Tax Voluntary Compliance Encouragement Scheme (VCES) has come into effect from 10.5.2013. Some of the issues raised with reference to the Scheme have been clarified by the Board vide circular No. 169/4/2013-ST, dated 13.5.2013.  Subsequently, references have been received by the Board seeking further clarifications as regards the scope and applicability of the Scheme. The …

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CHANGES IN THE REVISED SCHEDULE VI OF THE COMPANIES ACT, 1956

Revised Schedule VI is applicable on all companies except insurance or banking company, or any company engaged in the generation or supply of electricity. The highlights of the changes in the revised Schedule VI in comparison to the earlier Schedule VI are discussed below. The latest changes to Schedule VI permit only the vertical format …

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FAQ : SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013

About VCES, 2013 Service Tax Voluntary Compliance Encouragement Scheme, 2013 has been proposed by the Finance Minister in budget for the year 2013-14, to encourage the defaulters of Service Tax, who have not declared and paid the ‘Tax Due’ for the period from 01.10.2007 to 31.12.2012 which upto 1st day of March 2013. The eligible …

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