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Reg. grant of Licences/ Authorisations for import of Gold Dore

Trade Notice No. 04 (21/04/2017)

It is brought to the notice of the Trade and EPCs that w.e.f. 01.06.2017 only those applications for grant of gold dore shall be considered by this Directorate where the applicant refinery holds a valid licence from Bureau of Indian Standards (BIS)....

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Apply for Common Proficiency Test to be held on 18th June, 2017: ICAI

Common Proficiency Test, an entry level test for the Chartered Accountancy course, is held twice a year in the month of June and December. The forthcoming Common Proficiency Test is scheduled to be held on 18th June, 2017 (Sunday). ...

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Posted Under: DGFT |

Use of revisionary Power to delay DVAT Refund Claim is an Abuse of Power

Garg Roadlines Vs Commissioner Trade & Taxes (Delhi High Court)

There is sufficient indication from the notes on files that the invocation of the revisionary powers under Section 74A of the DVAT Act was to delay making the refund which was overdue for over six years. The Court is left no manner of doubt is that this was plainly an abuse of power vested in the Commissioner which calls for disapproval i...

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No Penalty for non payment of service Tax if no willful suppression of facts to evade tax

Mahadev Logistics, Vs Customs and Central Excise Settlement Commission (Chhattisgarh High Court)

Court is of the considered opinion that there is no willful suppression of facts to evade tax on the part of the petitioner and it was bona fide on the part of the petitioner, it was not deliberate and in absence of finding relating to mensrea recorded by the Settlement Commission, the penalty imposed upon the petitioner under Section 78 ...

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GST Migration Completion Status- Central Excise 73%, Service Tax 34%

DO.No.05/CH(EC)/2017 (21/04/2017)

Coming to the status of migration, as on date 73% of the existing Central Excise registrants and 34% of the existing Service Tax registrants have migrated. We are fast approaching the last date for completion of migration i.e. 30.04.2017. I urge all zonal Chief Commissioners to take necessary steps to assist all existing taxpayers in thei...

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Custodian of Goods cannot deny his liability for export of Illicit Goods

M/s. Sanco Trans Ltd Vs The Customs, Excise and Service Tax Appellate Tribunal (Madras High Court)

This Civil Miscellaneous Appeal is filed by the assessee challenging an order of the Customs Excise and Service Tax Appellate Tribunal dated 15.6.2015 confirming imposition of penalty under section 114 of the Customs Act (in short Act) though reducing the quantum from Rs.5 lakhs to Rs.2.5 lakhs....

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MVAT: Change in Rate of VAT on Motor Spirit wef 22.04.2017

Notification No. VAT.1517/C.R.44/Taxation-1 (21/04/2017)

Rate of VAT in Maharashtra on Any other kind of Motor Spirit (a) When delivered, (i) to a retail trader for trading from place of business situated within the geographical limits of the Municipal Corporations of the Brihan Mumbai, Thane, Navi Mumbai and within such other areas for such period as may be notified by the State Government in ...

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Govt notifies securities in which Trust Money can be invested

S.O. 1267(E) (21/04/2017)

Central Government hereby specifies the following securities for the purposes of the section 20 of the Indian Trusts Act, 1882 (a) Government securities; (b) securities, the principal whereof and the interest whereon is fully and unconditionally guaranteed by the Central Government or any State Government;...

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End of Red Beacons : A big blow to VIP culture

On Wednesday, April 19, 2017, the Union Cabinet decided to amend the Motor Vehicle Rules to end the use of red or any coloured beacon by all, including the President, Vice President and the Prime Minister. Every Indian is special. Every Indian is a VIP, Prime Minister Narendra Modi tweeted soon after....

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Posted Under: DGFT |

PF members allowed to withdraw for housing needs

No. WSU/39(1)2017/Housing Scheme (21/04/2017)

Give wide publicity to the above notification amongst employers and members of Provident Fund through media, e-mails, seminars, workshops etc. Awareness about the new provision should be created, especially through employers' associations and workers' unions so that eligible and willing members can avail withdrawal and loan repayment faci...

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