CBEC proposes Master
Circular on Show Cause Notice, Adjudication and Recovery, consolidating 85
Circulars of Central Excise; Said Master Circular intends to compile relevant
legal and statutory provisions on the subject, and seeks comments / suggestions
by February 15; Draft Master Circular is divided into 4 parts wherein Part I
deals with Show Cause Notice related issues, Part II deals with issues related
to Adjudication proceedings, Part III deals with closure of proceedings and
recovery of duty, while Part IV deals with miscellaneous issues (such as
service of decisions, orders, summons, de novo adjudication, and refund of
pre-deposit); Master Circular lays down inter alia structure of Show Cause
Notice – (a) introduction of the case, (b) legal frame work, (c) factual
statement & appreciation of evidences, (d) discussion, facts and legal
framework, (e) discussion on limitation, (f) calculation of duty and other
amounts due, (g) statement of charges, and (h) authority to adjudicate, and
reiterates that once the amount is paid, no coercive action shall be taken for
recovery of balance amount during pendency of appeal proceedings before
appellate authorities; Circular also states that refund of pre-deposit need not
be subjected to process of duty refund u/s 11B of Central Excise Act, and same
shall be paid with interest irrespective of whether the appellate order is
proposed to be challenged by Dept. or not; Lists down the 82 Circulars which
shall stand rescinded and 3 Circulars that would remain operative : CBEC
Subscribe to:
Post Comments (Atom)
GST Not Leviable on Transfer of Leasehold Rights of MIDC Plots: SC Dismisses Revenue’s SLP
In a significant development, the Supreme Court has dismissed the Revenue’s Special Leave Petition (SLP) challenging a Bombay High Court (...
-
· Legal Framework: Section 171 of the Income Tax Act, 1961 provides the legal framework for the partition of a Hindu Undivided...
-
New utility for generation of Form 16A in pdf format provided by https://www.tdscpc.gov.in is very light and is sized only 8.43 MB while ...
-
1. Introduction Cross-border investment structures often employ intermediate holding companies in jurisdictions like the Cayman Islands. A c...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Issue before the Income-tax Appellate Tribunal (ITAT) Whether the phrase “paid up capital and general reserves” should be defined as “Ne...
-
Introduction Employee welfare is a cornerstone of corporate responsibility, and gratuity forms a critical part of the social security benefi...
-
Facts Saptarshi Ghosh (the tax payer) was a salaried employee of TCS Limited (employer), an Indian company. He was on deputation to the U...
-
Selling a property can trigger a significant tax liability in the form of capital gains tax. However, the Income-tax Act, 1961, allows you...
-
In the complex landscape of India’s Goods and Services Tax (GST), the tax treatment of non-compete fees has emerged as a critical area f...
-
The newly enacted Income Tax Act, 2025, marks a significant step toward simplification by consolidating multiple presumptive taxation sche...
No comments:
Post a Comment