Deposit requirement before appeal: certain percentage of duty or penalty required prior to filing appeals with statutory cap. The substituted section 129E requires appellants to deposit a prescribed percentage of the duty demanded or penalty imposed before the Tribunal or ... Summary
Deposit requirement before appeal: certain percentage of duty or penalty required prior to filing appeals with statutory cap.
The substituted section 129E requires appellants to deposit a prescribed percentage of the duty demanded or penalty imposed before the Tribunal or Commissioner (Appeals) will entertain specified appeals, with different rates tied to the source of the decision appealed. The provision caps the deposit amount at rupees ten crores and expressly excludes stay applications and appeals pending before appellate authorities prior to commencement of the Finance (No. 2) Act, 2014 from the deposit obligation.
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