Which institution has set up the 'Central Excise and Service Tax Settlement Commission'?

Daily Current Affairs

CBIC

SEBI

CBDT

Enforcement Directorate

Correct Answer : CBIC

The Central Board of Indirect Taxes and Customs (CBIC) has constituted the much-awaited Customs, Central Excise & Service Tax Settlement Commission to resolve and settle the show-cause notices issued under the Customs Act, Central Excise Act and Service Tax regime.

The move would bring expeditious disposal of cases where demand has been raised under the old indirect tax regime. The Central Excise Act and Service Tax were replaced with the current Goods and Service Tax (GST) law from 1st July, 2017.

”Customs, Central Excise & Service Tax Settlement Commission-A Filip to Alternative Dispute Resolution Mechanism for expeditious settlement of Show Cause Notices issued under Customs Act/Central Excise Act/Service Tax,” the CBIC tweeted from its official twitter handle.

The Competent Authority constituted Settlement Commission Benches at Delhi, Mumbai, Chennai & Kolkata to provide Alternative Dispute Resolution Mechanism for expeditious settlement of show cause notices issued in cases under Customs Act & Central Excise Act..

Source : Taxscan

Published On : December 27, 2022

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Souce : PIB

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