Is Service Tax Amnesty Scheme an All-Inclusive Solution

There was a lot of happiness and thrill among a trail of defaulters of duties when the voluntary compliance scheme was introduced for the year of 2013. Putting it very simply, this scheme is designed ensure maximum recovery of unpaid dues which can fuse a whole lot of money in the treasury of the Indian government. At the same time, the benefits of the scheme are such that it allows massive benefits to the defaulters in the form of granting relief from imposition of additional fines and interests in the entire due amount along with freedom from the threat of being imprisoned. 

However, very unfortunately, the service tax amnesty scheme is not all inclusive. There are a number of aspects in the scheme that should be considered by all enthusiastic evaders before getting too happy with the announcement of the plan. To begin with, this plan is not applicable to those who have audit imposed on them or, have filed returns without paying the tax in the first place. Secondly, this scheme is applicable for dues amassed during the period of 01.10.2007 to 31.12.2012 and has to be filed by 31.12.2013. Filing after this date will amount to the usual penalties that are never too palatable by defaulters in general.