Issue of statement by designated committee

Section 127 of the Finance Act, 2019 (No. 2) deals with issue of statement by designated committee. Issue of statement by designated committee 127.

Issue of statement by designated committee

127.

(1) Where the amount estimated to be payable by the declarant, as estimated by the designated committee, equals the amount declared by the declarant, then, the designated committee shall issue in electronic form, a statement, indicating the amount payable by the declarant, [on or before the 31^st day of May, 2020].

(2) Where the amount estimated to be payable by the declarant, as estimated by the designated committee, exceeds the amount declared by the declarant, then, the designated committee shall issue in electronic form, an estimate of the amount payable by the declarant [on or before the 1^st day of May, 2020].

(3) After the issue of the estimate under sub-section (2), the designated committee shall give an opportunity of being heard to the declarant, if he so desires, before issuing the statement indicating the amount payable by the declarant:

Provided that on sufficient cause being shown by the declarant, only one adjournment may be granted by the designated committee.

(4) After hearing the declarant, a statement in electronic form indicating the amount payable by the declarant, shall be issued [on or before the 31^st day of May, 2020].

(5) The declarant shall pay electronically through internet banking, the amount payable as indicated in the statement issued by the designated committee, [on or before the 30^th day of June, 2020].

(6) Where the declarant has filed an appeal or reference or a reply to the show cause notice against any order or notice giving rise to the tax dues, before the appellate forum, other than the Supreme Court or the High Court, then, notwithstanding anything contained in any other provisions of any law for the time being in force, such appeal or reference or reply shall be deemed to have been withdrawn.

(7) Where the declarant has filed a writ petition or appeal or reference before any High Court or the Supreme Court against any order in respect of the tax dues, the declarant shall file an application before such High Court or the Supreme Court for withdrawing such writ petition, appeal or reference and after withdrawal of such writ petition, appeal or reference with the leave of the Court, he shall furnish proof of such withdrawal to the designated committee, in such manner as may be prescribed, along with the proof of payment referred to in sub-section (5).

(8) On payment of the amount indicated in the statement of the designated committee and production of proof of withdrawal of appeal, wherever applicable, the designated committee shall issue a discharge certificate in electronic form, within thirty days of the said payment and production of proof.

1. Substituted for "within a period of sixty days from the date of receipt of the said declaration" by the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020, w.e.f. 31-03-2020.

2. Substituted for "within thirty days of the date of receipt of the declaration" by the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020, w.e.f. 31-03-2020.

3. Substituted for "within a period of thirty days from the date of issue of such statement" by the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020, w.e.f. 31-03-2020.

Section 127, The Finance Act, 2019 (No. 2).