A suitable reward upto 5% of the amount recovered can be given to any informer who gives information regarding the whereabouts, assets, movable and immovable properties of persons or companies from whom arrears of duty, tax, fine, penalty etc. are recoverable under the Customs Act, 1962, the Central Excise Act, 1944 or Service Tax Act, 1994. The quantum of reward will be decided by the Chief Commissioner concerned.
Funny Thing – Only board knows about service tax Act, 1994 or when it get passed. In our opinion it should have been finance Act, 1994.