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Service Tax amnesty scheme may fetch about Rs 6,000 cr

New Delhi: The first-of-its-kind amnesty scheme for service tax defaulters, which ended last month, may result in realisation of about Rs 6,000 crore of additional revenue for the government.The Voluntary Compliance Encouragement Scheme (VCES), which
PTI January 12, 2014 16:04 IST
PTI
New Delhi: The first-of-its-kind amnesty scheme for service tax defaulters, which ended last month, may result in realisation of about Rs 6,000 crore of additional revenue for the government.

The Voluntary Compliance Encouragement Scheme (VCES), which was implemented from May 10 last year, has got an encouraging response, a revenue department official said.  About 48,000 declaration forms involving service tax revenue of at least Rs 6,000 crore may have been filed under the scheme, he said.

“This is the rough amount. The exact number of such applications and amount pledged is being finalised in coordination with various Service Tax Commissionerates and other offices which were mandated to receive such claims from defaulters,” the official said.