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July 2008

Background

By Puloma Dalal, Bakul B. Mody, Chartered Accountants
Reading Time 1 mins
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1. Background :


The much publicised and hyped Dispute Resolution Scheme 2008
was notified vide Chapter VI of the Finance Act, 1994. The Government has now
issued Notification No. 28/2008-ST, dated June 04, 2008 whereby the rules called
the Dispute Resolution Scheme Rules 2008 have been prescribed. Further,
guidelines in respect of the scheme have been provided vide Circular No.
102/5/2008-ST, dated June 04, 2008. The operation of the scheme, the procedure
to be followed and settlement mechanism is provided below :

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