Revenue Secretary Sumit Bose today said concerns of the industry relating to Service Tax Voluntary Compliance Encouragement Scheme (VCES) 2013 will be duly addressed and the necessary clarification, wherever required, will be issued at the earliest.Bose was addressing the representatives of CII, FICCI, PHD Chambers of Commerce, Associated Chambers of Commerce (ASSOCHAM) and Institute of Chartered Accountants of India (ICAI).Bose further said that service sector contributes about 65% of the GDP but the number of service tax payers is quite less. Therefore, this scheme was launched to bridge this gap and allow defaulting persons and companies to disclose their tax liabilities and file their service tax returns.
Source : Business Standard
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