TMI BlogRevised limit above which arrest and prosecution can now be consideredX X X X Extracts X X X X X X X X Extracts X X X X ..... Revised limit above which arrest and prosecution can now be considered - News and Press Release Dated:- 26-10-2015 - News - F. No.296/07/2015-CX.9 Govt. of India Ministry of Finance Department of Revenue (Central Board of Excise and Customs) New Delhi, the 23rd October, 2015 OFFICE MEMORANDUM Please find enclosed a press release issued by Central Board of Excis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e and Customs [CBEC] w.r.t. the Revised Limit above which arrest and prosecution can now be considered . The Press Release is enclosed for taking necessary action at your end. Encls: As above (Manish Mohan Govil) Official Spokesperson [CBEC] Phone No. 011- 2309 3667 Sh. D.S. Malik, ADG (M C) Ministry of Finance. North Block, New Delhi. PRESS NOTE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Persons involved in serious offences of tax evasion are liable for arrest and prosecution under the Central Excise Act, 1994, Finance Act, 1994 dealing with Service Tax and Customs Act, 1962 . Central Board of Excise and Customs (CBEC) has issued instructions from time to time prescribing the procedures, safeguards and threshold limits above which these powers are to be exercised with di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... scretion and responsibility. CBEC has now issued fresh instructions on 23-10-15 rescinding the past circulars and consolidating them at one place with following objectives. 2. The monetary limits for arrest and prosecution have been revised substantially upwards to ensure that these powers are not used against small and medium businesses. 3. Thus the limits in case of offence of evasion of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax or wrongful utilization of input tax credit in case of Central Excise and Service tax have been revised to 1 Crore from ₹ 25 lakh and ₹ 10 lakh respectively. 4. In case of evasion of tax under the Customs Act, the limits have been revised to ₹ 1 Crore from ₹ 10 lakh in case of evasion of tax by wrongful avialment of exemption or duty drawback. Similar, revisions regar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding value of goods have been carried out regarding appraisement of tax during import or export. 5. In cases of outright smuggling cases or mis-declaration of baggage, the limits regarding value of offending goods have been revised from ₹ 5 Lakh to ₹ 20 Lakh. As in the past, there shall be no lower limit for arrest and prosecution in the cases of smuggling of fake Indian currency ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notes, arms, ammunitions and explosives and endangered species. 6. The procedure to be followed for arrest and sanction of prosecution has been revised and specified with adequate safeguards in these instructions to ensure that only in cases of serious nature above the revised thresholds, where there is strong prima-facie evidence, these powers are exercised. ---------------xx------------- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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