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Notes on clauses-Indirect Tax Dispute Resolution Scheme2016

Notes-12 - Bill - Notes on clauses - Bill - Notes-12 - Indirect Tax Dispute Resolution Scheme, 2016. Clauses 209 to 215 of the Bill seeks to insert new Chapter XI to provide for the Indirect Tax Dispute Resolution Scheme, 2016. The said Scheme provides for settlement of the disputes pending before the Commissioner (Appeal) as on the 1st March, 2016, on payment of tax dues along with interest and twenty-five per cent. of the penalty imposed by the impugned order. The said scheme is applicable to .....

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y complex economy and to maintain price stability. The proposed new Chapter inter alia provides that,- (i) the Central Government shall, in consultation with the Bank (Reserve Bank of India), determine the inflation target in terms of the Consumer Price Index, once in every five years; (ii) the Central Government may constitute a Committee to be called the Monetary Policy Committee of the Bank which shall consist of the Governor of the Reserve Bank of India as a Chairperson, Deputy Governor of t .....

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