Advance rulings regime: fee increased, time-limits extended and pending central excise cases transferred to income tax authority. Amendments restructure the advance rulings framework by redefining the Authority, omitting the prior provision for the erstwhile Authority, increasing the application fee, extending the time-limit for pronouncement of rulings to six months, and transferring pending applications to the Authority under the Income tax Act; additionally, access to the Settlement Commission is broadened and the Commission is empowered to amend its orders to rectify errors apparent on the face of the record.
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Advance rulings regime: fee increased, time-limits extended and pending central excise cases transferred to income tax authority.
Amendments restructure the advance rulings framework by redefining the Authority, omitting the prior provision for the erstwhile Authority, increasing the application fee, extending the time-limit for pronouncement of rulings to six months, and transferring pending applications to the Authority under the Income tax Act; additionally, access to the Settlement Commission is broadened and the Commission is empowered to amend its orders to rectify errors apparent on the face of the record.
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