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of <h1>Clarification on Finance Act Amendments: SCN Waiver Options, No Adjudication Needed if Taxes and Interest Paid Promptly.</h1> The circular clarifies amendments to Sections 73, 76, and 78 of the Finance Act, 1994, and Section 11AC of the Central Excise Act, 1944, effective from May 14, 2015. It addresses whether a Show Cause Notice (SCN) is necessary when tax, interest, and a 15% penalty are paid. Assessees can waive the requirement for a written SCN, opting for oral communication instead. The circular also explains that proceedings can be concluded without an adjudication order if conditions are met, and outlines that no penalty is required if taxes and interest are paid promptly in non-fraud cases.
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