VCES - Declaration - Does it mean filing of ST 3 returns for last five years? - Will the Board/FM clarify?
FORM VCES 1 has the following footnote relating to Details of Tax dues (Sl No 6 of the Declaration Form)
Furnish a calculation sheet separately (for the purpose of calculation of tax dues, the manner of calculation as prescribed in Sl No 3F(I) or as the case may be, the Part B of Form ST-3, as existed during relevant period may be used and calculation of tax dues may be furnished tax return period wise, and service wise, if tax dues relates to more than one service)
It seems the above footnote is turning to be a big hurdle for many VCES aspirants. It is learnt that at some places, the declarations are not accepted and the officers are insisting that the calculation sheet should be exactly in the same proforma as 3(F)(I) of the ST 3 return with month-wise details filled up for the return period. Many assessees feel that it is as good as filing ST 3 for the last five years. Can't the assessee submit the calculation sheet as per his own assessment for the return period? Should he declare the details month-wise, return period-wise, filling all the rows from (a) to (i) of Table in Sl No 3F(I) of the ST 3 return? Can the declaration be rejected if the information is not provided exactly in the same proforma?
It seems there is some misunderstanding on this issue and the purpose of footnote is only for providing manner of computation of tax liability and the calculation sheets need not be insisted in the same proforma of ST 3 return. A quick re-look on this issue is urgently needed to clear the confusion prevailing. Will the Board/FM clarify?
The Finance Minister is going around promoting VCES, but it looks like too many people are out to thwart his scheme. The Department should realise that every objection to a declaration will put off ten prospective declarants.
Please click on the following link to see what is 3(F)(I) of ST 3 return: