https://www.taxtmi.com/acts?id=23244 Compounding allows the Competent Authority to settle offences under the Act by accepting a prescribed compounding amount payable to the Central or State Government, subject to exclusions; compounding is permitted only after payment of tax, interest and penalty, and prescribed minima and maxima apply. On payment of the determined compounding amount, no further proceedings under the Act shall be initiated in respect of the same offence and any criminal proceedings already initiated shall abate. en-us Mon, 28 Nov 2016 12:02:12 +0530 Mon, 28 Nov 2016 18:55:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=23244 Compounding allows the Competent Authority to settle offences under the Act by accepting a prescribed compounding amount payable to the Central or State Government, subject to exclusions; compounding is permitted only after payment of tax, interest and penalty, and prescribed minima and maxima apply. On payment of the determined compounding amount, no further proceedings under the Act shall be initiated in respect of the same offence and any criminal proceedings already initiated shall abate. Act-Rules Bills Mon, 28 Nov 2016 12:02:12 +0530 https://www.taxtmi.com/acts?id=23244