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CBIC issued important guidelines for early initiation of recovery proceedings from taxpayers in exceptional situations before the standard time of three months.
Instruction No. 01/2024-GST
F. No. CBIC- 20016/9/2024-GST/583
30th May 2024
Sub.: Guidelines for initiation of recovery proceedings before three months from the date of service of demand order.
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Highlights: 1. As per section 78 & 79, standard time for initiation of recovery proceedings from taxpayer is 3 months from the date of service of demand order. 2. However in exceptional situations, approval for early initiation of recovery proceedings before the standard time of 3 months may be given but it should not be given by officers in a mechanical manner. 3. Proper officer should clearly provide specific reasons for asking the taxpayer for early payment of the demand. 4. Such reasons could include high risk to revenue e.g. - apprehension on taxpayer that he may close the business in near future, - possibility of default by taxpayer due to his declining financial conditions or impending insolvency, or likely initiation of proceedings under Insolvency and Bankruptcy Act, etc. 5. Reasons to believe for the apprehension of risk to revenue should be based on credible evidence. 6. Proper officer must duly consider the financial health, status of business operations, infrastructure, and credibility of the taxable person, and strike a balance between the interest of the revenue and ease of doing business. 7. Proper officer for general recovery proceedings u/s 79 is the jurisdictional Deputy or Assistant Commissioner of Central Tax. 8. Proper officer for giving approval for early initiation of recovery proceedings is the jurisdictional Principal Commissioner/ Commissioner of Central Tax. |
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