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Friday, May 13, 2005

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Excise dues: Taxmen may get powers to attach property

Our Bureau

New Delhi , May 12

THE Government proposes to empower the tax authorities to resort to provisional attachment of property in certain cases of default in payment of excise dues.

This move is being considered to protect the revenues of the government in certain instances.

The Taxation Laws Amendment Bill that was introduced in the Lok Sabha by the Finance Minister, Mr P. Chidambaram, here today proposes to grant such powers to the excise authorities.

The Bill also provides for publication of information relating to any proceedings or prosecutions under the Central Excise Act in respect of such person as the Central government may deem fit. Under this proposal, the names of directors, managing agents, secretaries, treasurers or managers of the company or the partners of a firm could also be published.

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