{"id":19216,"date":"2024-09-24T20:22:55","date_gmt":"2024-09-24T14:52:55","guid":{"rendered":"https:\/\/matribhumisamachar.com\/en\/?p=19216"},"modified":"2024-09-24T20:22:55","modified_gmt":"2024-09-24T14:52:55","slug":"union-budget-2024-25-new-monetary-limits-for-tax-appeals-announced","status":"publish","type":"post","link":"https:\/\/matribhumisamachar.com\/en\/2024\/09\/24\/union-budget-2024-25-new-monetary-limits-for-tax-appeals-announced\/","title":{"rendered":"Union Budget 2024-25: New Monetary Limits for Tax Appeals Announced"},"content":{"rendered":"<p style=\"text-align: justify;\">The Hon&#8217;ble Supreme Court\u00a0<strong>today disposed off 573 direct tax cases<\/strong>\u00a0where the tax effect is less than \u20b95 crore, in view of the revised monetary limit of filing of appeals.<\/p>\n<p style=\"text-align: justify;\">This significant milestone aligns with the government&#8217;s efforts to reduce tax litigation and promote Ease of Doing Business.<\/p>\n<p style=\"text-align: justify;\"><strong>The Union Budget 2024-25<\/strong>\u00a0provided for an enhanced monetary limit for filing appeals related to Direct Taxes, Excise and Service Tax in the Tax Tribunals, High Courts and Supreme Court and the limits were increased to \u20b960 lakh, \u20b92 crore and \u20b95 crore respectively.<\/p>\n<p style=\"text-align: justify;\">In pursuant to the Budget 2024-25 announcement, the\u00a0<strong>CBDT and CBIC had issued necessary orders\u00a0<\/strong>to enhance the monetary limit for filing appeals in their respective domains. As a result, it is expected that the cases pending before various appellate fora will come down and reduce tax litigation.<\/p>\n<p style=\"text-align: justify;\"><strong>Direct Tax<\/strong><\/p>\n<p style=\"text-align: justify;\">As per the announcements in the Union Budget 2024-25,\u00a0<strong>the monetary thresholds for filing tax dispute appeals by the department were enhanced\u00a0<\/strong>as follows:<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>For Income Tax Appellate Tribunal (ITAT)<\/strong>: Increased from \u20b950 lakh to\u00a0<strong>\u20b960 lakh<\/strong>.<\/li>\n<li><strong>For High Courts<\/strong>: Increased from \u20b91 crore to\u00a0<strong>\u20b92 crore<\/strong>.<\/li>\n<li><strong>For Supreme Court<\/strong>: Increased from \u20b92 crore to\u00a0<strong>\u20b95 crore<\/strong>.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">As a result of these revised limits, it is estimated that around\u00a0<strong>4,300 cases<\/strong>\u00a0will be withdrawn from various judicial forums over the course of time:<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>ITAT<\/strong>: 700 cases<\/li>\n<li><strong>High Courts<\/strong>: 2,800 cases<\/li>\n<li><strong>Supreme Court<\/strong>: 800 cases<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Indirect Taxes<\/strong><\/p>\n<p style=\"text-align: justify;\">Similarly, the limit for filing appeals for the specified\u00a0<strong>legacy Central Excise &amp; Service Tax cases\u00a0<\/strong>was increased:<\/p>\n<ul style=\"text-align: justify;\">\n<li>For CESTAT (Customs Excise and Service Tax Appellate Tribunal), the limit was increased to \u20b960 lakh from \u20b950 lakh<\/li>\n<li>For the High Court, the limit was increased to \u20b92 crore from \u20b91 crore.<\/li>\n<li>For the Supreme Court, the limit was increased to \u20b95 crore from \u20b92 crore.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">As a result of these revised limits, it is estimated that around\u00a0<strong>1,050<\/strong>\u00a0<strong>cases\u00a0<\/strong>pertaining to specified legacy Central Excise &amp; Service Tax cases are estimated to be withdrawn from various judicial forums:<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>Supreme Court<\/strong>: 250 appeals<\/li>\n<li><strong>High Courts<\/strong>: 550 appeals<\/li>\n<li><strong>CESTAT:<\/strong>\u00a0250 appeals<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Along with Direct Tax Vivad Se Vishwas Scheme, a measure introduced recently to reduce pending\u00a0litigation, these measures on the Direct tax and Indirect tax front are expected to significantly reduce the burden of tax litigation and expedite the resolution of tax disputes.<\/p>\n<p style=\"text-align: justify;\">In addition,\u00a0<strong>steps have been taken<\/strong>\u00a0<strong>to deploy more officers dedicated to hearing and deciding income tax appeals, particularly those involving significant tax amounts.<\/strong>\u00a0These initiatives reflect the government&#8217;s commitment to improve the \u2018Ease of Living\u2019 and &#8216;Ease of Doing Business&#8217; across the country by reducing pending litigation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Hon&#8217;ble Supreme Court\u00a0today disposed off 573 direct tax cases\u00a0where the tax effect is less than \u20b95 crore, in view of the revised monetary limit of filing of appeals. This significant milestone aligns with the government&#8217;s efforts to reduce tax litigation and promote Ease of Doing Business. The Union Budget 2024-25\u00a0provided for an enhanced monetary &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[15094,15093,15095,15096,6668],"class_list":["post-19216","post","type-post","status-publish","format-standard","","category-business-english-news","tag-direct-taxes","tag-enhanced-monetary-limit","tag-excise-tax","tag-service-tax","tag-union-budget-2024-25"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Union Budget 2024-25: New Monetary Limits for Tax Appeals Announced - Matribhumi Samachar English<\/title>\n<meta name=\"description\" content=\"The Union Budget 2024-25 raises the monetary limit for filing appeals on Direct Taxes, Excise, and Service Tax, enhancing tax compliance and dispute resolution efficiency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/matribhumisamachar.com\/en\/2024\/09\/24\/union-budget-2024-25-new-monetary-limits-for-tax-appeals-announced\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Union Budget 2024-25: New Monetary Limits for Tax Appeals Announced - 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