The Central Board of Indirect Taxes and Customs urges use of Settlement Commission scheme for early settlement of disputes. Notes that such scheme is not being availed / utilized by assessees due to lack of awareness resulting in blockage of huge amount of Govt. revenue.
Reiterates that immediately after issuance of show cause notice, a letter should invariably be written to noticee informing him about the scheme of settlement to encourage voluntary compliance and for settlement of disputes by making maximum use of Settlement Commission scheme.
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