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The CBIC vide Public Notice No. 01/2022 dated 13.12.2022 has notified that 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 has been constituted.
The Competent Authority has constituted the Settlement Commission Benches at Delhi, Mumbai, Chennai and Kolkata to provide Alternative Dispute Resolution Mechanism for expeditious settlement of show-cause notices issued. Further, the Commission also has powers to grant immunity either wholly or in part from the imposition of any penalty and fine under the Central Excise Act or the Customs Act.
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
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