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CBEC Clarifies Mandatory Pre-Deposit For Appeals

Published on Thu, Sep 25,2014 | 17:36, Updated at Thu, Sep 25 at 17:36Source : 

The Central Board of Excise and Customs (CBEC) vide Circular No 984/08/2014-CX dated 16 September 2014 has issued clarification concerning implementation of the newly substituted Section 129E of The Customs Act, 1962 and Section 35F of The Central Excise Act, 1944 prescribing mandatory pre-deposit as a percentage of the duty demanded where duty demanded and penalty levied are in dispute.  Where penalty alone is in dispute, the pre-deposit is to be calculated on the penalty imposed.

For more please read the attached report by Khaitan & Co.

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Attachments : Khaitan & Co. Ergo Newsflash-CBEC issues clarification to facilitate implementation of new provision.pdf

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