At your Service: Tax Defaulters get Last Chance

P C h i d a m b a r a m a n - nounced a one-time tax amnesty scheme for defaulters of service tax who have not been filing their returns.

The one-time scheme,Voluntary Compliance Encouragement Scheme,will be offered to defaulters among 17 lakh service tax assessees.A defaulter may avail of the scheme on condition that s/ he files a truthful declaration of service tax dues since October 1,2007 and makes the payment in one or two instalments before the stipulated deadline.If the person follows the norm,interest,penalty and other consequences will be waived off.

While there are nearly 17 lakh registered assessees under service tax,only about seven lakh file returns.

Times of India, New Delhi, 01-03-2013