Form No. 2 - Form of acknowledgement under Sub section (2) of Section 214 of the Finance Act, 2016 in respect of Indirect Tax Dispute Resolution Scheme, 2016
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Indirect tax dispute resolution requires timely payment of dues, interest and reduced penalty, followed by payment intimation with proof. Under the Indirect Tax Dispute Resolution Scheme, 2016, the designated authority acknowledges a declaration filed under section 214 of the Finance Act, ... Summary
Indirect tax dispute resolution requires timely payment of dues, interest and reduced penalty, followed by payment intimation with proof.
Under the Indirect Tax Dispute Resolution Scheme, 2016, the designated authority acknowledges a declaration filed under section 214 of the Finance Act, 2016 and directs payment of the amount due, applicable interest, and twenty-five per cent of the penalty imposed under the order in original within fifteen days of receipt. The declarant must submit Form 3, with proof of payment, to the designated authority within seven days after making payment.
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