CBEC issues a Circular on recovery of confirmed demands during the pendency of stay application of duty

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... CBEC issues a Circular on recovery of confirmed demands during the pendency of stay application of duty - News and Press Release Dated:- 5-7-2016 - News - Central Board of Excise and Customs (CBEC) has issued a circular dated 04.07.2016 on the issue of Recovery of confirmed demand of tax during the pendency of stay application in relation to indirect taxes. Confirmed demand of tax arises, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... when after examining the submissions of a tax payer, an order is issued confirming demand of tax from a tax payer. The Circular provides that in cases where stay application is pending before Commissioner (Appeals) or CESTAT for periods prior to 06.08.2014, no recovery shall be made during the pendency of the stay application. It may be noted that the law on the issue was amended on 06.08.2014, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... where after filing of appeal requires payment of 7.5 or 10 per cent of tax demand, depending on stage of appeal, obviating the need for appellate authority to hear any stay application. The Circular further provides that in cases where demand is confirmed by Hon ble CESTAT or Hon ble High Court recovery proceeding may be initiated after a period of sixty days from the date of the order provide .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... d that no stay is in operation. The said Circular has been issued to ensure that the assessee gets adequate opportunity to appeal before recovery proceedings are started in indirect taxes. The Circular would also bring uniformity in practice regarding recovery of confirmed demands of tax. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementin .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... dia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X