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Wednesday, March 3, 2010

Budget Changes for Settlement Commission

Prepared By:
CA Pradeep Jain
Sukhvinder Kaur

The Settlement Commission has been provided for in the Central Excise Act, 1944 and in the Customs Act, 1962 for settlement of cases of tax evasion subject to fulfillment of certain conditions. Also, a mandatory condition was imposed that the cases are to be decided within 9 months from the date of making of application.

But in earlier the Finance Bill, the cases of clandestine removal and smuggling were taken away from the Settlement Commission. Thus, the jurisdiction of the Commission was restricted in a major way....read more

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