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Business EconomyPosted at: Jul 5 2016 4:36PM


CBEC's fresh circular on recovery of confirmed demands during pendency

New Delhi, Jul 5 (UNI) Central Board of Excise and Customs (CBEC) has issued a circular on the issue of "Recovery of confirmed demand of tax during the pendency of stay application’’ in relation to indirect taxes.
According to the circular issued by CBEC said in cases where stay application is pending before Commissioner (Appeals) or CESTAT for periods prior to August 6, 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 August 6, 2014, 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 provided that in cases where demand is confirmed by CESTAT or High Court recovery proceeding may be initiated after a period of 60 days from the date of the order provided 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.
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