New Chapter XI Introduces Indirect Tax Dispute Resolution Scheme 2016 for Pending Appeals as of March 1, 2016.

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....INDIRECT TAX DISPUTE RESOLUTION SCHEME, 2016 - Clauses 209 to 215 of the Bill seeks to insert new Chapter XI to provide for the Indirect Tax Dispute Resolution Scheme, 2016. - The said Scheme provides for settlement of the disputes pending before the Commissioner (Appeal) as on the 1st March, 2016, on payment of tax dues along with interest and twenty-five per cent. of the penalty imposed by the impugned order. The said scheme is applicable to the declarations made upto the 31st day of December, 2016.....