CBEC Sets Up Panel for Writing off Tax Arrears [Read Circular]
Vivad se Vishwas Scheme – Amnesty Scheme – GST Arrears – Tax Arrears – Taxscan
Vivad se Vishwas Scheme – Amnesty Scheme – GST Arrears – Tax Arrears – Taxscan
The Central Board of Excise and Customs (CBEC) has constituted a three - member Committees of Chief Commissioners and Commissioners, to examine the claims for write - off of irrecoverable arrears and recommend deserving cases.
This is in connection with the Board's Circular No.946/07/2011 dated 01.06.2011 issued vide F.No. 296/10/2009-CX.9, wherein the Board had opted for committee system to decide on duty arrear write-off in cases where the recovery the dues was found impossible.
Regarding the write off of interest amount, the Board clarified that once duty/ tax involved is written off, the interest due thereon would get automatically written off. It is also clarified that the duty/ tax involved in the case would determine the level of authority/Committee competent to write off the amount involved.
To Read the full text of the Circular CLICK HERE