VCES stands for :

Options

A. 1.Voluntary Compliance Encouragement Scheme
B. 2.Value of Customer's Estimated Securities
C. 3.Voluntary Customer Engagement Services
D. 4.Voluntary Compulsory Employment Scheme

Answer

a

Explanation

VCES stands for Voluntary Compliance Encouragement Schemme. The Service Tax Voluntary Compliance Encouragement Scheme (VCES) came into effect from 10 May 2013. The Finance Bill, 2013-2014 introduced chapter VI In the Finance Act 2013-14 and promulgated the Voluntary Compliance Encouragement Scheme. The objective of this Scheme was to encourage disclosure of tax dues and compliance of service tax either tax law by the perons who have not paid service tax either on account of ignorance of law or otherwise. VCES is the opportunity for such persons to pay the 'tax dues' and come clean.