Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: cpt :: form 3cd :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: empanelment :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT Audit :: TDS :: TAX RATES - GOODS TAXABLE @ 4%
 
 
News Headlines »
 Income tax exemption for FY19
 How will the new provisions really work?
 How to save income tax? Best tips for young earners
 Forgot to verify your income tax return? Here's help
 Notification of Government e-Marketplace (GeM) under section 138 of the Income-tax Act
 Income tax returns can be filed even if you missed deadline
 What is the difference between a tax return and a tax refund?
 Improving tax compliance in India
 How to invest in the new LTCG tax regime
 5 Tips to help you save tax
 Why to file income tax return?

CBEC order to reopen cases where Tax demand stayed
December, 03rd 2009

Directions form part of revenue maximisation measures.

The Central Board of Excise and Customs (CBEC) has directed its field formations across the country to open all cases, irrespective of year and amount involved, where it had raised a demand but had these stayed by courts, otherwise known as call-book cases.

The directions form part of revenue maximisation measures by the department through ways other than tax collection in this financial year.

Usually, the tax demand raised by the department gets stayed in courts or at appellate levels in the department itself. Officials involved in the exercise said the new directive it will have wide implication for revenue, since the Board estimates about Rs 30,000 crore was stuck in such cases as on June 30. Thus, if such cases are reviewed and demand is raised before March 31, 2010, it will add to revenue collection substantially.

This is a major step to maximise revenue at a time when indirect tax collections have dipped due to lower tax rates fixed for companies following fiscal stimulus by the government to help industry recover. The objective of this exercise is to avert a stay, so that the assessee pays first and then fights the demand in court if it so prefers, said an official. Officials added that the department is expected to finish opening up all cases and serve demand notices to the companies before March 31.

Other than the call book cases, the board has also directed all chief commissioners to scrutinise all cases where the demand is more than Rs 50 lakh, irrespective of the year in which it was booked, and has not been recovered due to litigation.

In such cases, after the review, the department will fix fresh demand and then serve notice for recovery. As a one-time measure, the board has also proposed that departments review all cases where demand is difficult to revover or non-recoverable cases, for writeoff by the authority concerned and recover whatever dues are possible.

The Board, in a note to the departments, has observed that 90 per cent of the cases get stayed in the Customs, Excise and Service Tax Appellate Tribunal (Cestat).

Therefore the board had suggested empanelling counsels of repute, seeking a designated bench in courts for early decisions and a two-member review committee of chief commisioners to decide on Cestat orders before filing an appeal in the High Court or Supreme Court.

The note says there are 61,200 cases involving an arrear demand of Rs 31,500 crore as on June 30, 2009. In this, 20 per cent of cases accounting for 38 per cent of revenue got a stay, 32 per cent of cases with 34 per cent of revenue were restrained by the debt recovery tribunal, 12 per cent of cases with four per cent of revenue were non-recoverable, while revenue could be recovered from 36 per cent of cases accounting for 24 per cent of revenue without any additional burden.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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