Section - 245N, 245O and 245Q - Amendments to the structure
of Authority for Advance Rulings-
The amendment relates to the
advance rulings under the Act. At present there are two different authorities
for advance rulings – one for Income Tax and another for Central Excise, Custom
Duty and Service Tax. It is proposed to merge the two authorities and
accordingly consequential amendments have been made in the two Acts to
facilitate such merger. The definition of ‘applicant’ in section 245N has
accordingly been amended to provide reference of applications made under the
Custom Act, Central Excise Act and Finance Act 1994. Similar amendment has been
made in section 245Q relating to application for advance ruling.
Amendment has also been proposed
in respect of qualifications of members of the authority. An officer of revenue
service qualified to become member of CBDT and CBEC is qualified to become
member of the authority.
Qualification for appointment as
chairmen has also been amended to provide that a former Chief Justice of a High
Court or a person who has been a High Court Judge for at least 7 years will be
eligible to become chairmen.
It is also proposed that in the
event of the chairmen being unable to discharge his functions or in the event
the office of chairmen falls vacant, the vice-chairmen shall discharge the
function of chairmen until the new chairmen is appointed or until the incumbent
chairmen resumes duties.
The amendment will be effective from
1st April 2017.