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LIMITATION FOR ISSUING SCN UNDER SECTION 73 ENHANCED

Central Excise - By: - Pradeep Jain - Dated:- 9-3-2016 Last Replied Date:- 11-3-2016 - It was proposed in the Central Excise Tariff Conference that the time limit for issuing show cause notice under normal period of limitation should be increased and .....

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been increased from the present eighteen months to thirty months from the relevant date. The effect of increase in time limit is favourable or adverse decision of the government from the point of view of assesses will be known in the time to come. Ho .....

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ormal period of limitation may be viewed as beneficial in the sense that the probability of assessees availing the benefit of no penalty by concluding the proceedings under section 76 or proviso to section 11AC (1)(a) may increase. This is for the re .....

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from penalties may be extended on comparatively large scale. However, it is also not hidden that the penalty provisions of section 78 or section 11AC (1)(c) are always invoked whether there is allegation of fraud, collusion or wilful misstatement or .....

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show cause notices pertaining to audit objections are also issued after 3-4 years by invoking extended period of limitation. Consequently, since the time limit to issue show cause notice under normal period of limitation is increased to 30 months, t .....

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9%, the revenue authorities will have tendency to invoke larger period of limitation. With the government planning to introduce unified taxation reform GST in the coming year, the provisions regarding time limit to issue show cause notice under norma .....

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are carried on speedily. Providing enhanced time limit to issue show cause notice would encourage unnecessary delays in verification and assessment mechanism. - Reply By vasudevan unnikrishnan - The Reply = Strange is the way in which CBEC propose to .....

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