|
Issuing Authority/Forum - GOI 8th December, 2005 |
PIB Press Release dated 8 December 2005 - Rajya Sabha Passed the National Tax Tribunal Bill, 2005 |
|
|
Topic |
National Tax Tribunal Bill 2005 |
|
Sub Topic |
Adjudication of disputes by the NTT |
|
Summary |
The Rajya Sabha passed the National Tax Tribunal Bill 2005, which provided for the adjudication of disputes relating to the levy, assessment, collection and enforcement of direct taxes as well as those relating to the customs and excise duty rates, by the National Tax Tribunal. The Bill was applicable to the whole of India and would come into force on the date notified by the Central Government in the Official Gazette. |
RAJYA SABHA PASSED THE NATIONAL TAX TRIBUNAL BILL, 2005
The Rajya Sabha today passed the National Tax Tribunal (NTT) Bill, 2005. The Bill provides for adjudication by the National Tax Tribunal of Disputes with respect to levy, assessment, collection and enforcement of direct taxes and it also provides for the adjudication of disputes with respect to the determination of rates of duties of customs and central excise on goods and the valuation of goods for the purposes of assessment of such duties as well as in matters relating to levy of tax on service, in pursuance of Article 323 B of the Constitution and for matters connected therewith or incidental thereto. The Lok Sabha had earlier passed the Bill.
The Bill extends to the whole of India and shall come into force on such date as the Central Government may notify in the Official Gazette of Government of India. The NTT shall consist of a Chairperson and such number of members as the Central Government deems fit. The Central Government shall determine the number of Benches and each Bench shall consist of two members. The Chairperson of the NTT shall be a person who has been a Judge of the Supreme Court or Chief Justice of High Court. The member shall be a person who is eligible to be a Judge of a High Court or who is or has been a member of the Income Tax Appellate Tribunal or of the Customs, Excise and Service Tax Appellate Tribunal for at least seven years.
The Chairperson and other members shall be appointed by the Central Government on the recommendations of the Selection Committee consisting of Chief Justice of India, or a Judge of the Supreme Court nominated by CJI, Secretary, Department of Legal Affairs, Ministry of Law and Justice and Secretary, Department of Revenue, Ministry of Finance. The retirement age in respect of the Chairperson shall be 68 years and in respect of a member shall be 65 years. |