An interaction programme on Voluntary Compliance Encouragement Scheme (VCES) with regard to Service Tax was organised by Mysore Chamber of Commerce and Industry (MCCI) on Nov. 11 at MCCI Hall on DD Urs Road.

Indrajith Das Gupta, IRS, Chief Commissioner of Central Excise, Customs and Service Tax, Mysore zone, who was the chief guest, requested all service-providers who collect service tax from their customers to get themselves registered on and then apply for VCES to clear their due taxes.

VCES has been introduced with effect from May 10, 2013 as a one-time amnesty scheme for paying service tax dues for the period Oct. 1, 2007 to December 31, 2012 without interest and penalty, he said.

J.S. Chandrashekar, IRS, Commissioner, Central Excise, Customs and Service Tax, informed that under this VCES scheme, the assesses are required to pay at least half of the pending tax before Dec. 31 and the remaining half by June 30, 2014, that is, in two instalments. The interest rate will be applicable thereafter, until Dec. 31, 2014.

Sudhakar S. Shetty, President, MCCI, who presided, said that the MCCI will act as a catalyst for the implementation/ introduction of any laws with regard to business development between the Government and the Trade and Industries.

J. Darshan, IRS, Asst. Commissioner, Service Tax division, explained in detail about the VCES scheme through a power point presentation. He also informed that those whose business reached or crossed Rs. 10 lakh a year, were liable to pay the service tax and can register themselves under the scheme.

The discharged cerficates will be issued within 7 days of the filed application. Around 100 members attended.

MCCI Vice-President A.S. Satish, Hon. Secretary M.C. Bhansali and Hon. Treasurer C.M. Subramanian were present on the occasion.

Courtesy : Star Of Mysore