09 December 2013
One of my Client is mainly engaged in the business of Parcel & Courier Services and during the F.Y 2012-13, the Company Gross Receipt from Said business is 53,54,500/-. Hence, Company is liable for registration in Service Tax but Company could not do so and their Service Tax Liability approx Rs 5, 00,00/- and this amount has not been paid by the Company before due date of filing of Return i.e 30.9.2013 and now, Company wish to avail benefit of VCES-2013. Please explain me that how this issue report in Financial Statement & Balance Sheet so that it represent True & Fair View i.e No Professional mis-conduct is occure.
13 December 2013
For the period upto 31 12 2012, it can go for VCES-2013. . Hurry up for Registration, declaration and payment and take benefit of waiver of interest and penalties. . For 1-4-2013 to 30-09-2013; the company has to pay interest and penalties. . A resolution may be passed by the company to this effect to avail benefit under this scheme. This will serve as a document for past failures. However; for the quarter ending March,2013; the default is continuing and there is no immunity. . Hence you have to report accordingly. .
CAclubindia
