Same Advance Ruling Authority for Customs & Income Tax
Clause (e) of section 28E is being amended so as to substitute the definition of
“Authority” to mean the Authority for Advance Ruling asconstituted under section 245-O of the Income-tax Act, 1961.
. Section 28F is being amended so as to provide that the Authority for Advance Rulings
constituted under section 245-O of the Income-tax Act shall be the Authority for giving
advance rulings for the purposes of the Customs Act. It further seeks to provide that
the Member of the Indian Revenue Service (Customs and Central Excise), who is
qualified to be a Member of the Board, shall be the revenue Member of the Authority
for the purposes of Customs Act. It also seeks to provide for transferring the pending
applications before the Authority for Advance Rulings (Central Excise, Customs and
Service Tax) to the Authority constituted under section 245-O of the Income-tax Act
from the stage at which such proceedings stood as on the date on which the Finance
Bill, 2017 receives the assent of the President.
Procedurals amendments in working of Authority
Section 28G relating to vacancies not to invalidate proceedings is being omitted.
Sub-section (3) of section 28H is being amended so as to increase the application fee
for seeking advance ruling from rupees two thousand five hundred to rupees ten thousand on the lines of the Income-tax Act.
Sub-section (6) of section 28I is being amended so as to provide time of limit of six months by which Authority shall pronounce its ruling on the lines of the Income-tax Act.
