TaxTMI 
TaxTMI 
Simplification of procedure to deal with audit objections raised in indirect taxes by the office of by CAG
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....implification of procedure to deal with audit objections raised in indirect taxes by the office of by CAG <br>News and Press Release<br>Dated:- 12-4-2016<br><BR>Central Board of Excise and Customs (CB....
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....EC) has issued a circular to simplify the procedure of dealing with audit objections raised in indirect taxes by the office of CAG. The Circular rescinds all the past circulars and instructions and pr....
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....escribes a new simplified and consolidated procedure. The Circular No. is 1023/11/2016 CX dated 08/04/2016 Taking note of the fact that revenue and audit have agreement on large proportion of the aud....
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....it objections, the revised Circular provides that demand notice, in cases of agreement on audit objection, should be issued and decided expeditiously. However, where revenue does not agree with the ob....
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....jections, no demand notice would be issued. Thus, where it is not necessary, an assessee would not be taken through the litigation cycle. The Circular also highlights that adjudicating authority is a....
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.... quasi-judicial authority and is expected to decide the case independently and judiciously. Regular coordination meeting between Revenue and CAG officers has also been prescribed for faster resolution....
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.... of issues. These revised guidelines have been issued in an effort to make the indirect tax administration assessee friendly and non-adversarial by bringing the audit objections to closure in an expe....
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....ditious and fairer manner.<BR> News - Press release - PIB....