Special procedure for certain processes.

Section 148

The Government may, on the recommendations of the Council, and subject to such conditions and safeguards as may be prescribed, notify certain classes of registered persons, and the special procedures to be followed by such persons including those with regard to registration, furnishing of return, payment of tax and administration of such persons.

AI Explanation

The government has the authority, based on the Council's recommendations, to identify particular groups of registered individuals and establish unique procedures for them. This includes specifying conditions and safeguards as necessary. The notification will cover various aspects such as registration, return filing, tax payment, and the overall administration of these designated individuals.

Customized Approaches to Compliance

In this section, the government can, with the advice of the Council, outline specific methods for certain classes of registered persons to adhere to regulations. These methods will be designed to suit the unique needs and characteristics of these groups, ensuring a tailored approach to compliance.

Flexibility in Regulatory Requirements

The procedures laid out will come with conditions and safeguards, offering flexibility within the regulatory framework. This allows for a more nuanced and adaptable system that considers the distinct circumstances of the identified classes of registered persons.

Council's Role in Recommendations

The Council plays a crucial role in advising the government on which classes of registered persons should be subject to special procedures. This collaborative approach ensures that the recommendations align with the practical considerations and requirements of the diverse groups within the registered community.

Implementation of Special Procedures

Once the government identifies and notifies these classes, the prescribed special procedures will come into effect. These procedures will cover essential aspects such as registration processes, filing of returns, tax payment methods, and the overall administrative responsibilities of the designated individuals.

Ensuring Effective Administration

The goal of these special procedures is to streamline compliance and administration for specific groups. By tailoring the requirements to the unique characteristics of these registered persons, the government aims to create a more efficient and effective regulatory environment.