Skip to content

Introduction on Settlement Commission

Introduction on Settlement Commission :

Provisions relating to Settlement Commission are contained in Chapter V of the Central Excise Act, 1944. This Chapter was inserted by the Finance (No. 2) Act, 1998 to evolve a mechanism for speedy settlement of cases involving high revenue stakes. This Chapter contains sections 31 to 32P.

The basic objective of setting up of the Settlement Commission is to expedite payments of customs & excise duties and service tax involved in disputes by avoiding costly and time consuming litigation process and to give an opportunity to tax payers to come clean who may have evaded payments of duty/tax. It provides a forum for the assesses to apply for settlement of their cases, on the basis of true and complete disclosure of their duty/tax liability by them.

Customs, Central Excise and Service Tax Settlement Commission is constituted by Central Government and shall consist of one Chairman, Vice-Chairman and other members as the Central Government may think fit. This Commission is a part of Ministry of Finance and is constituted by the people of integrity and outstanding ability having special knowledge and experience in respect of administration of customs, central excise and service tax laws.

FavoriteLoadingAdd to favorites

Comments

comments

Leave a Reply