https://www.taxtmi.com/article/detailed?id=6268 The Finance Act, 2015 amends Central Excise and Customs recovery and penalty regimes to ensure uniform treatment of duty short payment and erroneous refund cases, excludes self assessed periodic return entries from Section 11A recovery, clarifies the relevant date for interest only recoveries, prescribes transition rules for pending show cause notices and orders, rationalizes penalties with distinct regimes for non fraud and fraud cases including ceilings and reduced penalties for prompt payment, adjusts specific import/export penalties, restricts Settlement Commission eligibility on referrals, and applies a retrospective exemption for certain railway materials. en-us Tue, 19 May 2015 23:24:42 +0530 Wed, 20 May 2015 12:19:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6268 The Finance Act, 2015 amends Central Excise and Customs recovery and penalty regimes to ensure uniform treatment of duty short payment and erroneous refund cases, excludes self assessed periodic return entries from Section 11A recovery, clarifies the relevant date for interest only recoveries, prescribes transition rules for pending show cause notices and orders, rationalizes penalties with distinct regimes for non fraud and fraud cases including ceilings and reduced penalties for prompt payment, adjusts specific import/export penalties, restricts Settlement Commission eligibility on referrals, and applies a retrospective exemption for certain railway materials. Articles Other Topics Tue, 19 May 2015 23:24:42 +0530 https://www.taxtmi.com/article/detailed?id=6268