VCES - The PC Road Show - Ultimately we will reach you - FM warns offenders
THE Finance Minister Chidambaram kicked off his road shows on VCES at Chennai on Saturday. He said that VCES was a generous package and he wanted service providers to avail the scheme and pay the tax without penalty, interest or worry of penal action.
At the same time he warned the Service Tax evaders that ‘big brother is watching' - "You may get away with it for a week, a month and even a year. Ultimately, we will reach the offenders"
He said that so far 10 persons, who had collected more than 50 lakh as service tax, failed to remit the amount to the government account, were arrested. "They are keeping the money with them as if the amount was an interest-free loan from the government. Tell me, should such a person be shown any sympathy? The money is not a small amount,"he said.
Today the FM is addressing representatives and members of various trade/industry associations and Chambers of Commerce & Industry at 3.00 pm at DRDO Auditorium, New Delhi. Now that the FM himself is on the road show, the VCES is expected to pick up momentum. There is also a rumour that the Scheme is likely to be extended till March 2014. This is a good idea and maybe the cut-off period for the Scheme should also be extended till September 2013. The period of the Scheme should be coterminous with a return period to avoid complications in returns and declarations.