https://www.taxtmi.com/news?id=15119 CBEC has consolidated and rescinded prior circulars to raise monetary thresholds for considering arrest and prosecution in tax and customs offences-covering central excise, service tax, wrongful input tax credit use, customs evasion by wrongful exemptions or drawback and valuation issues-and increased value limits for smuggling and baggage mis-declaration. The instructions impose procedural requirements and safeguards, directing that arrests and prosecutions be undertaken only for serious cases above the revised thresholds with strong prima facie evidence, while retaining no lower limit for specified grave offences such as counterfeit currency, arms, explosives and endangered species smuggling. en-us Mon, 26 Oct 2015 17:40:00 +0530 Mon, 26 Oct 2015 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15119 CBEC has consolidated and rescinded prior circulars to raise monetary thresholds for considering arrest and prosecution in tax and customs offences-covering central excise, service tax, wrongful input tax credit use, customs evasion by wrongful exemptions or drawback and valuation issues-and increased value limits for smuggling and baggage mis-declaration. The instructions impose procedural requirements and safeguards, directing that arrests and prosecutions be undertaken only for serious cases above the revised thresholds with strong prima facie evidence, while retaining no lower limit for specified grave offences such as counterfeit currency, arms, explosives and endangered species smuggling. News - Mon, 26 Oct 2015 17:40:00 +0530 https://www.taxtmi.com/news?id=15119