Amendment in Sec.11A

[Admin TMI]

Question - What are amendments proposed in Section 11 A of Central Excise Act, 1944 in Finance Bill 2015 ?

AI Summary

Proposed Amendments to Section 11A: Changes to Extended Period, Relevant Date, and Recovery Process in Excise Duty Cases. The discussion addresses proposed amendments to Section 11A of the Central Excise Act, 1944, as outlined in the Finance Bill 2015. The amendments aim to remove the category of cases where an extended period applies if transactions are recorded in specified records. They also seek to redefine the relevant date in cases where returns are not filed on time and only interest needs recovery. Additionally, Section 11A will not apply to cases where non-payment or short payment of duty is reflected in periodic returns, with recovery to be prescribed by rules.