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TMI BlogSimplification of procedure to deal with audit objections raised in indirect taxes by the office of by CAGX X X X Extracts X X X X X X X X Extracts X X X X ..... Simplification of procedure to deal with audit objections raised in indirect taxes by the office of by CAG X X X X Extracts X X X X X X X X Extracts X X X X ..... BEC) 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 p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rescribes 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 au ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dit 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 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bjections, 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a 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 resolutio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 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 exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... editious and fairer manner. X X X X Extracts X X X X X X X X Extracts X X X X
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