VCES – Clarification dated 11-12-2013

CBEC, vide instructions dated 11-12-2013, has clarified following issues on VCES

S.No.	Issues	Clarifications
1	Whether an undertaking is required from the declarant stating that there is no unpaid tax dues for the remaining period of the scheme	No. A declaration of tax dues has to be made in Form VCES-1. No other undertaking or declaration required to be furnished.
2	Whether the tax declared can be paid in installments.	Yes. The only condition is that 50% of the tax dues shall be paid by 31-12-2013 and balance 50% by 30-06-2014. For ex. a declarant may pay the 50% amount that he is required to pay by 31-12-2013 in more than 1 installments.
3	Whether the designated authority may raise frivolous/ unnecessary queries regarding the manner of calculation of tax dues.	No. The designated authority may check arithmetical calculation of tax dues. The commissioner, if he has reason to believe and the reasons to be recorded in writing, that the declaration is substantially false, he may serve notice on declarant.