Golden Opportunity for Tax defaulter:The Federal Government of India announced service tax amnesty scheme for Tax defaulters of October 2007 and December 2012. It is very new scheme announced by Finance Minister P Chidambaram in the budget and released “Frequently asked Questions” booklet on the service tax, with help of this scheme tax defaulters can pay their service tax dues without any Interest or penalty by the end of this current calender year(December).
The rest of the Tax dues can be paid by June 2014. If it not possible to pay the tax in june 2014, business or individual tax-payer can pay the tax with interest (from July 2014) in December-end 2014
According to the Chidambaram around million people are not filing returns and they become defaulters
this is an opportunity for all them if not they are eligible for punishment.
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