Change in section 15A Central Excise Act 1944

[Guest]

According to the recent change in section 15A which empower Excise officer to demand any information from any assessee or authority prescribe therein.

My view is that under this amendment, an excise officer can demand information only for rectification of any returns filed by us and not for any other information he may seeks for other purpose. If so then penalty clause will also not applicable

[YAGAY andSUN]

Dear Salil,

Section 15A is being 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. It is also proposed to insert a new section 15B which provides for imposition of penalty if the information return is not submitted.

Regards,

Team YAGAY and SUN

(Management and Indirect Tax Consultants)

[Guest]

Dear Khatri,

Is this amendment mean that an excise officer can demand any data from assessee and if he is fail he can impose penalty under section 15B

[YAGAY andSUN]

Dear Salil,

Yes,It is so.

Regards

Team YAGAY and SUN

(Management and Indirect Tax Consultants)

AI Summary

Information reporting obligations expanded: prescribed authorities may require returns and penalties apply for non submission. Section 15A empowers the Central Government to prescribe authorities or agencies to receive information returns from specified persons, enabling collection of data to identify tax evasion or recover dues; section 15B provides for imposition of penalties if the prescribed information return is not submitted. The amendment is explained as applying to designated recipients such as tax and regulatory authorities, and commentators confirm the power to require information is not confined to return rectification and may attract penalties on non submission.