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Knowing how to use VCES can help non compliant parties of service tax to evade penalties. Essential details can be easily obtained through tax consultants and relevant websites. Original sin and humans share a very long and strong relationship that has been carrying on ever since time took its first few steps on earth. While many may believe that no other human since the course of the ages can do it better than Eve, one will only be too surprised to see how the present day tax evaders of India have carried the tradition on, that too masterfully and with perfect precision which may even put the innocent Eve shame. Evasion of duties that is payable to the supreme Central Government has a kind of adventure sense and thrill in it. Besides this, dodging the blows of duties allows the self absorbed service providers make some additional income, illegal though. What should matter to this group of swashbucklers however is that, such acts inherently carry massive penalties which can even land the concerned evader in prison or, be fined like never before. Till date, there have been thousands of instances where such self imposed tax benefits have caused the government crores in pure cash which could otherwise have been used for developmental purposes of the nation, or, as deemed necessary by the Center. Recovering the due amount is crucial for the government, but, the problem usually lies in the fact that the non compliant parties don’t usually expose themselves even if they wish to for sheer fear of punishment. On many occasions it has been observed that ignorance of service providers in the matters of taxation results in non compliance and evasion. The government being sensitive, reasonable and logical enough wishes to grant functional options to parties to pay up without having to face fears of penalty. This is where the latter must understand the importance of how to use VCESscheme or, Voluntary Compliance Encouragement Scheme which has been introduced by the government to encourage the non compliant parties to file their dues without any apprehension of getting caught and pinned down for obvious reasons. While the introduction and enforcement of the scheme has attracted the attention of millions, there is still a section of defaulters who have been nurturing the belief that this scheme is something that would lure them out in the open and then be penalized in the ways as may be due to them. However, the fact is, the nature of the scheme is such that it yields benefit both to the concerned payer of the dues and the receiver of the same, which in this case is the Government. On paying dues under this scheme, the payers can also gain many additional benefits. These advantages mainly include waiver in interest and penalties which may otherwise have bloated the due amount by unimaginable extent. This is perhaps, one of the main methods that have resulted in a dramatic rise in service tax deposit in the recent years. Updated and revised in 2013, the scheme has become wider to bring in each and every non compliant group to participate in cleaning up the herculean accumulation of tainted records. Knowing how to make the best use of the scheme can be easy with the help of professionals and also through a number of associated websites. The author of this article is a highly qualified and sought-after tax consultant to individuals and small entrepreneurs. The author suggests understanding the importance of how to use VCES to make service tax compliance easy and penalty free. To know the service tax deposit procedure, he recommends you to visit myservicetax.in.
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