No VCES Upto Next 20 Years

Finance Minister P Chidambaram said that the government is wary of tax evaders next 20 years, a new scheme of tax exemption , it can not present . Service tax exemption existing VCES last chance to win . Restrictions imposed by the Supreme Court for various reasons including such plans now will be offered . He warned that the tax thief escaping . They will have to face the consequences .
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According to the finance minister , serving voluntary compliance incentives ( VCES ) expires on December 31st . Taxpayers have the chance prized government . This event is not expected to get through the next few decades , so take advantage of this opportunity that is in everyone's interest . Service tax defaulters to pay a one-time waiver of penalty scheme was introduced on May 10 this year .
The October 2007 to December 31 by 2012, has been given the opportunity to pay the outstanding tax . Taxpayers to take advantage of this scheme is exempted from interest and penalties .
Chidambaram said during a debate in Bangalore in the year 1997 before the name of such a scheme was introduced VCES . The new scheme was introduced 16 years later . If you think someone would introduce a similar scheme again next year, then they are mistaken . Such a scheme can not be introduced each year . They are required to present proper reason .
To avoid violating the court 's orders, we have had to change plans .
He said that so far 15 people in cases involving service tax has been processed . About 17 million people in the country itself is registered as a tax payer but only seven million people are over the tax . Government to identify tax evaders have enough information and technology .