Customs — Introduction of 'Indirect Tax Dispute Resolution Scheme, 2016

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....XI of the Finance Act, 2016 (28 of 2016). The Indirect Tax Dispute Resolution Scheme Rules, 2016 are also notified by the Government vide Notification No. 29/2016-CE(NT) dated 31.05.2016. Both the Scheme and the Rules came into effect from 01.06.2016. The Objective and silent features of the Scheme are detailed hereunder: A. Objective of the Scheme: 1) The Objective is to resolve 'Indirect Tax Disputes' pending at the appellate stage of the Commissionerate (Appeals). 2) The Scheme allows the party to pay tax due along with the interest thereon at the rate as provided in the Act and penalty equivalent to twenty-five per cent of the penalty imposed in the Impugned Order {i.e. the Order which is under Challen....

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....l remain suspended for sixty days, and the Commissioner will not proceed any further with the appeal till expiry of said sixty days. 3) The declarant shall pay tax due along with the interest thereon at the rate as provided in the Act and penalty equivalent to twenty-five per cent of the penalty imposed in the impugned order, within fifteen (15) days of the receipt of the acknowledgement and intimate in "Form-3" (Attached as Annexure-Ill) to the designated authority within seven (7) days of making such payment giving the details of payment made along with the proof thereof. 4) On receipt of the proof of payment of tax, interest and penalty from the declarant, the designated authority shall, within fifteen (15) days of the ....