CENTRAL EXCISE
Amendments in the Central Excise Act, 1944
1. The Central Excise Act, 1944 or Finance
Act, 1994 is proposed to be amended so that a reference in said Act to a Chief
Commissioner of Central Excise or a Commissioner of Central Excise may also
include a reference to the Principal Chief Commissioner of Central Excise or
the Principal Commissioner of Central Excise, as the case may be. Further,
definition of Central Excise Officer has been broadened so as to include
Principal Chief Commissioner of Central Excise and Principal Commissioner of
Central Excise.
2. New section 15A to be inserted so as to
empower the Central Government to prescribe an authority or agency to whom the
information return shall be filed by the specified persons such as Income-tax
authorities, State Electricity Boards, VAT or Sales Tax authorities, Registrar
of Companies. Information can be collected for the purposes of the Act, such
as, to identify tax evaders or recover confirmed dues. A new section 15B also
proposed to be inserted to provide for imposition of penalty on failure to
furnish information return.
3. Section 32E(1) proposed to be amended
so as to allow filing of applications of settlement before the Settlement
Commission in cases where the applicant has not filed the returns after
recording reasons for the same.
.
.
.
0 comments:
Post a Comment