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Our Bureau

Mangalore , Sept. 28

The office of the Commissioner of Central Excise in Mangalore has collected Central Excise duty to the tune of Rs 3,459 crore during the last fiscal.

Addressing presspersons here on Thursday, Dr John Joseph, Commissioner of Central Excise, Mangalore, said that Rs 125 crore of service tax was collected during the period. The target of Central Excise collection for this year is Rs 2,800 crore.

Dr Joseph said that the department has introduced an optional scheme of voluntary payment of duty, in cases of fraud and mis-statement.

The Taxation Laws (Amendment) Act 2006, which came into effect on July 13, has introduced an optional scheme for enabling voluntary payment of duty by assessees, in cases involving fraud and mis-statement. This is an additional facility given to the trade and industry to settle the dispute at an early stage to reduce litigation and also aid in collection of tax dues more expeditiously, he said.

The assessee has the further option of using the proposed facility in full or part, he added.

More Stories on : Excise and Customs | Karnataka

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