The rules relating to Roll Back of an Advance Pricing Agreement (APA) have been notified through notification no.SO 758 (E) dated 14th March, 2014.As per sub-rule (5) of the newly prescribed rule 10MA, where an application for entering into an advance pricing agreement has been filed prior to 1.01.2015, the request for rollback in the newly prescribed Form No. 3CEDA may be filed at any time on or before 31.03.2015. Similarly, where an advance pricing agreement has been entered into before 1.01.2015, the said form may be filed before 31.03.2015.
2. Representations have been received stating that in respect of the applications and agreements referred to above, which have been filed or entered into prior to 1.01.2015, the window provided up to 31.03.2015 is very short in light of the fact that the relevant rules have been notified only on 14.03.2015. Further, it has been represented that a reasonable period also needs to be provided in respect of the applications or agreements, as the case may be, filed or entered into up to 31.03.2015
3. Considering the above problems it has been decided to amend the sub-rule (5) of rule 10MA to provide that in a case where an application has been filed prior to the 31st day of March, 2015, application for roll back in Form No. 3CEDA along with proof of payment of additional fee may be filed at any time on or before the 30th day of June, 2015 or the date of entering into the agreement whichever is earlier. Similarly, in a case where an agreement has been entered into before the 31st day of March, 2015, application for roll back in Form No. 3CEDA along with proof of payment of additional fee may be filed at any time on or before the 30th day of June, 2015.
4. The formal notification in this regard would follow shortly.
