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TMI BlogCustoms — Introduction of 'Indirect Tax Dispute Resolution Scheme, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the Government of India under Chapter 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gement has been given by the designated authority, the proceedings before the Commissioner (Appeals) shall 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 paymen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... passed under the Conservation of Foreign Exchange and Prevention of Smuggling Act, 1974 (52 of 1974) E. Consequences of Order made under Scheme:: 1) Any amount paid in pursuance of a declaration made under the provisions of scheme shall not be refunded 2) An order passed by the designated authority under the provisions of the scheme shall not be deemed to be an order on merits and has no binding effect. The explanation provided under Section 217 of the Scheme mentions that nothing contained in this Scheme shall be construed as conferring any benefit, concession or immunity on the declarant other than the benefit, concession or immunity granted under Section 216 of the Scheme. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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