Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: VAT Audit :: ACCOUNTING STANDARDS :: empanelment :: ACCOUNTING STANDARD :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT RATES :: form 3cd :: list of goods taxed at 4%
Customs and Excise »
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.
 CBEC directs customs officials for random search of vessels
 Rate of exchange of conversion of the foreign currency with effect from 7th July, 2016
 Common registration and return for First Stage Dealer and Importer
 Amendment to Notification No. 61/94-Customs
 Mumbai airport Customs better than global counterparts
 Customs Cadet Corps set to spread wings

Excise duty evasion limit to warrant arrest revised to Rs 2 crore
October, 12th 2016

The Central Board of Excise and Customs (CBEC) has asked officials not to resort to a penal provision in cases where the additional demand of duty/tax is based on a difference of opinion regarding interpretation of law, in cases of excise duty evasion.

However, the CBEC has doubled the limit of excise duty evasion required for arrest and prosecution of the accused to Rs 2 crore. Keeping in view the recent statements by Prime Minister Narendra Modi to handle cases of tax collection carefully, the CBEC’s move should come as a relief to many small businessess.

“It has been decided to revise the monetary limit for arrest and prosecution in Central Excise to maintain uniformity of practice in central excise and service tax,” the Central Board of Excise and Customs (CBEC) said in an order.

The monetary limit for excise related offences was set at Rs 1 crore in October 2015. “Since an arrest impinges on the personal liberty of an individual, this power should be exercised with great responsibility and caution and only after a careful examination of the legal and factual aspects,” the authority said in a statement.

Arrest in case of service tax violations was introduced from May 10, 2013. Subsequent amendments have limited the possibility of arrest “only if a person collects any amount as service tax but fails to pay the amount collected to the credit of the Central Government beyond the period of six months from the date on which such payment becomes due and the amount exceeds Rs 2 crore.”

The Commissioner has also been instructed to go ahead with the arrest only if it is determined that the alleged offender is likely to hamper the course of further investigation by his unrestricted movement and is likely to tamper with evidence or intimidate or influence witnesses, states the order.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions