CBEC not to move appellate tribunal if amount less than Rs 5 lakh
August 25, 2011 in Custom
25th August 2011,
The finance ministry has substantially raised the monetary threshold for legally contesting indirect tax disputes, a move which aims to reduce the burden of litigation.
The Central Board of Excise and Customs ( CBEC), the apex indirect taxes body under the finance ministry, has instructed its officials not to file appeals in the tax tribunals if the fine and penalty on an alleged offender is less than Rs 5 lakh.
