More Qs on VCES, 2013
LAST Friday, in DDT we carried a capsule titled ‘How many times can I apply under the VCES, 2013?'. Even before the ink had dried from that page, literally speaking that is, we received this mail from a learned netizen-
“I have come across an interesting case with respect to VCES, 2013.
1) Whether the Scheme is applicable only where no ST has been paid? Will it be applicable to the cases wherein tax has been paid partially?
As you know there are large number of assessees who have not been paid ST by their clients / customers and, in such cases, for want of funds, ST has not been paid or paid partially. An issue that arises whether VCES will be applicable to cases entire amount of liability could not be discharged?
2) Another issue that arises is whether the Scheme will be applicable to the cases wherein ST has been paid in the past at relevant point of time. However, for certain reasons, ST-3 has not been filed till date. As you know, substantial amount of additional fees are required to be paid for late filing of ST-3. A question arises whether VCES can cover such cases? To put it differently, whether the Assessee can have the benefit of waiver of payment of fees for late filing of ST-3.
There is a strong case for such assessees. This is for the reason that those who have not paid any tax at all are provided benefit of waiver of late filing fee, interest and penalty etc. As compared to such cases, those assessees who could not file ST-3 for one reason or the another and who want to regularize their affairs, deserve benefit of waiving of late filing fee. If not permitted so, those who paid the tax in time will look fool for paying the tax.
Apart from that those who have committed sin on a large scale i.e. of not paying the tax and filing the return etc. will be given royal treatment as compared to those who were honest enough to pay the ST.
CBEC should consider such cases at an early date otherwise it will be travesty of justice. Or CBEC is waiting for some tax payer to file PLI for such issues?
DDT sincerely feels that the CBEC should bring out the FAQ as early as possible - after all, it would complement the hype created by the quarter page advertisements that have become a regular feature of the national dailies.