Company Secretaries can now set up CFCs under ACES
THE Institute of Company Secretaries of India (ICSI) has entered into a Memorandum of Understanding with the Central Board of Excise and Customs (CBEC). This would enable Company Secretaries in practice to set up Certified Facilitation Centres (CFCs) under the Automation of Central Excise and Service Tax (ACES) Project which will facilitate e-filing of returns and other documents by assessees of Central Excise and Service Tax.
A Certified Facilitation Centre (CFC) is a facility, other than the physical front offices or Facilitation Centres of CBEC, which may be set-up and operated by a practicing Company Secretary (PCS) to whom a certificate is issued under the ACES project, where the assessees of Central Excise and Service Tax can avail the facility to file their returns and other documents electronically along with associated facilitation on payment of specified fees.
In TIOL - DDT 1332 06.04.2010, while reporting Board's decision to enter into MOU with ICAI we asked why only CAs and why not provide an equal opportunity for CWAs and CSs as well. Later the Board allowed the CWAs also to set up CFCs for ACES, which we reported in TIOL - DDT 1339 16.04.2010. And now the CSs get the nod for setting up the CFCs.
Why can't the Board get it right the first tim e itself?