Amendment to Section 35F: Automatic Waiver of 92.5% Tax Demand & Penalty; No More Waiver Applications Needed.

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Full Text of the Document

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....After the amendment brought in Section 35F of the Central Excise Act, 1944, the statute has already waived 92.5% of the demand of the tax and the penalty. Thus, after the said amendment there is no question whatsoever arises of preferring “waiver application” to deposit the pre-deposit amount @ 7.5% of the total amount of duty....