Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

Govt ups monetary limits for tax litigation

Author: IANS/Thursday, July 12, 2018/Categories: Legal

Govt ups monetary limits for tax litigation

New Delhi - In a bid to minimise litigation pertaining to tax matters, the government on Wednesday decided it will not file any appeals in appellate tribunals, High Courts and the Supreme Court in cases involving an amount less than Rs 20 lakh, Rs 50 lakh and Rs 1 crore, respectively.

The earlier limit for filing an appeal in appellate tribunals was Rs 10 lakh while it was Rs 20 lakh for High Courts and Rs 25 lakh for the Supreme Court.

The Finance Ministry's decision would lead to withdrawal of 41% of existing cases related to direct taxes and 18% of cases related to indirect taxes.

"This step will also reduce future litigation flow from the department side," an official statement said.

It added that the decision will effectively reduce minor litigation and help the department to focus on high value litigation.

In case of Central Board of Direct Taxes, out of total cases filed by the department in Income Tax Appellate Tribunal (ITAT), 34 per cent of cases will be withdrawn. 

In case of High Courts, 48% of cases will be withdrawn and in case of Supreme Court, 54% of cases will be withdrawn. 

"The total percentage of reduction of litigation from department's side will get reduced by 41%. However, this will not apply in such cases where substantial point of law is involved," the Finance Ministry said.

Similarly, in case of Central Board of Indirect Taxes and Customs (CBIC), out of total cases filed by the department in Customs, Excise and Service Tax Appellate Tribunal (CESTAT), 16% of cases will be withdrawn. 

In case of High Courts, 22% of cases will be withdrawn and in case of Supreme Court, 21% of cases will be withdrawn. 

The Ministry said that the decision was taken in order to reduce the long pending grievances of taxpayers and to minimise litigation pertaining to tax matters and to facilitate "Ease of Doing Business".

Print Rate this article:
No rating

Number of views (92)/Comments (0)

rajyashree guha

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free