Financial Daily from THE HINDU group of publications
Friday, Dec 16, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 16, 2005 |
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Industry & Economy
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Taxation Government - Policy Bill to amend CST introduced in LS Our Bureau
New Delhi , Dec. 15 THE Finance Minister, Mr P. Chidambaram, today introduced in the Lok Sabha a Central Sales Tax (Amendment) Bill that seeks to provide operational flexibility in the constitution and functioning of the Central Sales Tax Appellate Authority. The Bill also seeks to ensure that aggrieved persons from various parts of the country get adequate time to file appeals. Amendments to the CST legislation are being proposed to increase the time limit for filing of appeal before the Central Sales Tax Appellate Authority from 45 days to 90. Further, the Central Sales Tax Appellate Authority is also to be empowered to condone the delay of up to sixty days, as against fifteen days at present. The CST Act is also to be amended to provide that appeals before the CST Appellate Authority lie only against the orders of the "highest appellate authority" in the State and not against the orders of the Assessing Authority. This will not only facilitate smooth functioning of the CST appellate authority, as the cases will come up before the Authority only after initial screening at State level, but will also be helpful to the dealers, as the appellate mechanism in the States would continue to be available to them. The Bill would also enable the Government to appoint the Chairman and Member (legal) of the Authority for Advance Rulings as the Chairman and the Member (legal) of the Central Sales Tax Appellate Authority.
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