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Business News » India News

CBEC tweaks composition of panels on write-off of duty arrears

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Updated: Mon, Oct 09, 2017
05:19 pm
PTI
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The revenue department has tweaked composition of committees tasked to recommend waiver of irrecoverable arrears of customs and central excise to reduce the number of pending claims.

"It has been decided that in place of DG (DGPM) and Commissioner (TAR), other Chief Commissioner or Equivalent / Commissioners available in the zone may be included in the Committee," said a circular of the Central Board of Excise and Customs (CBEC).

There are two committees -- one looks into cases involving irrecoverable customs/excise duties up to Rs 15 lakh and the other up to Rs 10 lakh.

The CBEC in 2011 had opted for committee system to decide on duty arrear write-off in cases where it was not possible to recovery the dues.

The decision to tweak the composition of the committees was taken in deference to the wishes of Prime Minister Narendra Modi who at the 2nd Rajaswa Gyan Sangam had asked the revenue department to work out an "action plan" to eliminate pendency.

Consequent to the prime minister's directions, the Commissioner (Tax Arrears Recovery) proposed that being the only officer in TAR, it becomes impossible for him to attend meetings for write-off of arrears all over India, the CBEC said.

Similar was the case of Directorate General of Performance Management (DGPM), it said while outlining the new composition of the committees.

"As regards write off of interest amount, it is clarified that once duty/tax involved is written off, the interest due thereon would get automatically written off," the CBEC said.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

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