TaxTMI 
TaxTMI 
What is the procedure for the VCS scheme and our cenvet credit can set off in this scheme
VCS Scheme
12 Dec 2013 
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Voluntary Compliance Encouragement Scheme allows declared service tax dues to be settled under prescribed instalments without using cenvat credit.
Voluntary Compliance Encouragement Scheme 2013 allows declaration and discharge of service tax dues for 01.10.2007-31.12.2012 by filing Form VCES 1, obtaining acknowledgement in Form VCES 2, paying prescribed instalments (first instalment of not less than fifty percent by the initial deadline, balance by the later deadline or extended date with interest), and receiving discharge acknowledgement in Form VCES 3. Amounts paid are not refundable and cenvat credit cannot be utilized to set off payments under the scheme. Persons with prior show cause notices or orders on the same issue, or with specified pending inquiries, investigations, searches, summonses, production notices or audits initiated before the cut off, are ineligible. (AI Summary)
Voluntary Compliance Encouragement Scheme 2013 allows declaration and discharge of service tax dues for 01.10.2007-31.12.2012 by filing Form VCES 1, obtaining acknowledgement in Form VCES 2, paying prescribed instalments (first instalment of not less than fifty percent by the initial deadline, balance by the later deadline or extended date with interest), and receiving discharge acknowledgement in Form VCES 3. Amounts paid are not refundable and cenvat credit cannot be utilized to set off payments under the scheme. Persons with prior show cause notices or orders on the same issue, or with specified pending inquiries, investigations, searches, summonses, production notices or audits initiated before the cut off, are ineligible. (AI Summary)