Self-assessment exclusion in duty recovery: self-declared shortfalls removed from Section 11A; transitional rule clarified. The amendment omits several subsections and related references in section 11A, revises Explanation 1 by removing certain timing language and adding an interest-specific date, and inserts a new subsection excluding liabilities that are self-assessed and declared in periodic returns from the section, directing recovery in such cases to be by prescribed procedure. Explanation 2 is substituted to provide that certain instances of non-levy, short-levy, non-payment, short-payment or erroneous refund where no show cause notice was issued before the Finance Bill's assent are governed by the section as amended.
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Self-assessment exclusion in duty recovery: self-declared shortfalls removed from Section 11A; transitional rule clarified.
The amendment omits several subsections and related references in section 11A, revises Explanation 1 by removing certain timing language and adding an interest-specific date, and inserts a new subsection excluding liabilities that are self-assessed and declared in periodic returns from the section, directing recovery in such cases to be by prescribed procedure. Explanation 2 is substituted to provide that certain instances of non-levy, short-levy, non-payment, short-payment or erroneous refund where no show cause notice was issued before the Finance Bill's assent are governed by the section as amended.
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