https://www.taxtmi.com/article/detailed?id=6758 Finance Bill, 2016 establishes time bound settlement schemes allowing taxpayers with appeals pending before Commissioner (Appeals) to settle by payment: in direct tax cases payment of disputed tax and interest with reduced or waived penalties in prescribed categories and definitions; in indirect tax cases payment of duty, interest and twenty five percent of the penalty results in closure of proceedings and immunity from prosecution. The schemes specify declaration procedures, exclusions, denial of refunds, and powers for directions and removal of difficulties. en-us Fri, 25 Mar 2016 15:28:06 +0530 Fri, 25 Mar 2016 15:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6758 Finance Bill, 2016 establishes time bound settlement schemes allowing taxpayers with appeals pending before Commissioner (Appeals) to settle by payment: in direct tax cases payment of disputed tax and interest with reduced or waived penalties in prescribed categories and definitions; in indirect tax cases payment of duty, interest and twenty five percent of the penalty results in closure of proceedings and immunity from prosecution. The schemes specify declaration procedures, exclusions, denial of refunds, and powers for directions and removal of difficulties. Articles Service Tax Fri, 25 Mar 2016 15:28:06 +0530 https://www.taxtmi.com/article/detailed?id=6758