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TMI Blognotice to submit general requirements for unearthing tax evasion by comparing the income tax and excise records.X X X X Extracts X X X X X X X X Extracts X X X X ..... notice to submit general requirements for unearthing tax evasion by comparing the income tax and excise records. X X X X Extracts X X X X X X X X Extracts X X X X ..... edgers, return copies and many other things. But no relevant sections are quoted under which this power is used. And as per the provisions recently amended, dept. cant raise any query for period older than 30 months. so i just wanted a clarification whether i can use this provision to provide details only for last 30 months and not older than that? Thanx for sparing time to read this and provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding your valuable opinion. Reply By KASTURI SETHI: The Reply: Under Section 14 of Central Excise Act as made applicable to Service Tax law, the department can summon and call for any record for scrutiny and issue SCN if found non-levy of ST. Reply By Rajagopalan Ranganathan: The Reply: Sir, The proviso to Section 73 (1) of Finance Act, 1994 states that " PROVIDED that where any service ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax has not been levied or paid or has been short-levied or short-paid or erroneously refunded by reason of- (a) fraud; or (b) collusion; or (c) wilful mis-statement; or (d) suppression of facts; or (e) contravention of any of the provisions of this Chapter or of the rules made thereunder with intent to evade payment of service tax, by the person chargeable with the service tax or his agent, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the provisions of this sub-section shall have effect, as if, for the words "eighteen months , the words "five years" had been substituted. The words eighteen months is to be substituted by the words thirty months from the date when the Finance Bill 2016 receives President's assent. Where the service tax is not levied or short levied or not paid or short paid due to reasons enu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... merated under clauses (a) to (e) above the Department can ask you to produce the records for five years. Since the Finance Bill is yet to receive the assent of President, the Department has issued the notice without mentioning the relevant provisions of Finance Act, 1994. Reply By KASTURI SETHI: The Reply: I endorse the views of Sh. Rajagopalan Ranganathan, Sir. I think the querist has received ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notice in the form of letter and not SCN. Reply By surya narayana: The Reply: In other words, if the department asks for any records for scrutiny/investigation purpose to find out any tax/ST evasion, obviously, you have no option but to provide the records. However, you can at the same time ask for some time to submit such information /records etc. As sated by Shri. Rangarajan, Department has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to necessarily comply with the provisions of 18 months or 5 years depending on the criteria specified in the relevant sections while issuing the notice or initiating any proceedings etc., Best Regards Suryanarayana Reply By Ganeshan Kalyani: The Reply: Sir in addition to the views submitted by the experts above I would like to share my experience as under:- I always suggest querists to make p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ractice of reconciling the books of accounts before making service tax payments. The ledgers such as expense ledger in the debit side of P&L a/c, ST payable accounted under Current Liabilities in the B/S and clearing accounts, if any should be scrutinised before arriving at the ST payable amount. The above exercise will make you worry free during any audit whether that is internal audit or depar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tmental audit. This is because the Financial statements are audited and certified by qualified Chartered Accountants and Auditor rely on such reports. Hence it is always beneficial if assesse does reconciliation on timely basis to get through the audit with ease. Thanks. Reply By KASTURI SETHI: The Reply: Additional advice given by Sh.Ganeshan Kalyani Sir is worth following. Reply By Himanshu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Gupta:
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Thank you all experts for guiding me..! your opinions are very helpful. X X X X Extracts X X X X X X X X Extracts X X X X
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