sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Service Tax »
 Timeline for issuance of tax return intimation is 12 months
 How to save income tax via medical expenditures under sections 80D, 80DD, 80DDB, 80U
 4 Tips to protect yourself against tax return fraud this year
 Companies with high input tax claims under lens
 Goods and services tax rate cut a conundrum?for realty?developers
 No marginal relief for taxpayers whose taxable income exceeds Rs 5 lakh
 Did you not file? Know exactly how much penalty you will have to pay
 Your salary structure decoded - Know how much you can save on taxes
 How did Netflix get away with not paying income tax in 2018?
 Paying income tax does not grant relief from Goods and Service Tax
 Want to reduce your taxable income to Rs 5 lakh? Here's a list of all deductions you can claim

Government warns of tough action against excise, service tax evaders
January, 02nd 2013

In a stern warning to evaders of excise, customs and service tax, the government today asked them to either pay the dues or face penal action which could include arrest, prosecution and property attachment.

"We are keeping a very close watch on such elements. They are advised to come forward and pay all taxes and avail of the benefit of reduced penalty," Revenue Secretary Sumit Bose told reporters here.

Those who fail to pay excise duty, he warned, should be prepared to face consequences which would include "provisional attachment of property, arrest and prosecution, suspension of Cenvat credit and 100 per cent penalty and interest".

The move comes in the backdrop of moderate growth in the indirect tax collection and the urgency to contain the fiscal deficit to the targeted 5.3 per cent of the GDP.

The Revenue Secretary said government would urge all assesses to ensure they make timely and correct payment of customs duty, excise duty and service tax for continued trade facilitation.

"It has been observed that a number of central excise assesses continue removing goods clandestinely, sometime even without registration, misusing Cenvat credit or simply not paying central excise duties which are due to the government in disregard of the law," he said.

With regard to Service tax, Bose said, it is also noticed that more than half of the service providers who are registered are not filing returns while a number of service providers who should be paying service tax now have not yet registered themselves.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions