PRESS INFORMATION BUREAU GOVERNMENT OF INDIA ***** STATEMENT BY REVENUE SECRETARY REGARDING PAYMENT OF INDIRECT TAXES; URGES ALL ASSESSEES TO ENSURE THAT THEY MAKE TIMELY AND CORRECT PAYMENT OF CUSTOMS DUTY, CENTRAL EXCISE DUTY AND SERVICE TAX FOR CONTINUED TRADE FACILITATION New Delhi, Pausa 12, 1934 January 2, 2013

The text of the Revenue Secretary Shri Sumit Bose's Statement
made to the media today is as follows:
The Finance Minister has consistently emphasized that clarity in tax laws, a stable tax regime, a non-adversarial tax administration, a fair mechanism for dispute resolution, and an independent judiciary will provide great assurance to investors. While our Department is making every possible effort to facilitate trade and industry, a number of tax payers/assessees are still not doing their part by paying their due taxes in a timely manner and complying with the law.
It has been observed that a number of Central Excise assessees continue removing goods clandestinely, sometime even without registration, misusing CENVAT Credit or simply not paying Central Excise duties which are due to the Government, in disregard of the law. We are keeping a very close watch on such elements. They are advised to come forward to pay all due taxes and avail of the benefit of reduced penalty. If they fail to do so, they should be ready for the consequences which include: