https://www.taxtmi.com/article/detailed?id=8738 The article identifies a key drafting ambiguity in Section 124(1)(b) of the Finance Act (No.2), 2019 and an FAQ: use of the disjunctive "or" when describing waiver of late fee or penalty in show-cause notices may create litigation, whereas a conjunctive reading (late fee and penalty) could better effectuate the Scheme's relief. It parallels prior controversy under Rule 14 of the Cenvat Credit Rules where appellate conflict over "or" versus "and" led to an apex court refusal to read "or" as "and," later addressed by legislative amendment, and flags related uncertainties on arrears, inclusion of certain cesses, and interjurisdictional enforcement. en-us Tue, 24 Sep 2019 07:07:05 +0530 Tue, 24 Sep 2019 07:07:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8738 The article identifies a key drafting ambiguity in Section 124(1)(b) of the Finance Act (No.2), 2019 and an FAQ: use of the disjunctive "or" when describing waiver of late fee or penalty in show-cause notices may create litigation, whereas a conjunctive reading (late fee and penalty) could better effectuate the Scheme's relief. It parallels prior controversy under Rule 14 of the Cenvat Credit Rules where appellate conflict over "or" versus "and" led to an apex court refusal to read "or" as "and," later addressed by legislative amendment, and flags related uncertainties on arrears, inclusion of certain cesses, and interjurisdictional enforcement. Articles Other Topics Tue, 24 Sep 2019 07:07:05 +0530 https://www.taxtmi.com/article/detailed?id=8738