CBEC UNVEILS SCHEME TO AVOID ADJUDICATION

The Central Board of Excise and Customs (CBEC) has announced that assesses faced with show cause notices in cases involving fraud or misstatements could avoid the regours of adjudication procedure if they were to opt for a scheme that provides for voluntary payment of duty along with interest and penalty. Penalty under the scheme would be 25 per cent of the duty and assesses opting for such a scheme would have to make the entire payment within 30 days of the receipt of the show cause notice. This ”trade facility” would be available for both Central excise and customs duty cases, which are at the show-cause notices stage.