CA Bimal Jain

Key takeaways of 12th GST Council meeting

Goods and Services Tax - GST Council approves the Draft of SGST and UTGST Bills-Clearing the decks for introduction of a major indirect tax reform in the Parliament, the Goods and Services Tax (GST) Council, in its 12th meeting held on March 16, 2017, has approved the Draft Bills for implementing GST in States and Union Territories (UTs)....

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Key takeaways of 11th GST Council meeting

Goods and Services Tax - GST Council, in its meeting held on March 4, 2017 has approved the Draft CGST Bill and the Draft IGST Bill. This clears the deck for the Central Government to take these two Bills to the Parliament for their passage in the on-going Budget Session....

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Limitation period of one year is not applicable for claiming refund of taxes paid under protest

Goods and Services Tax - Whether limitation period of one year provided under Section 11B(1) of Excise Act, applicable to Service tax provisions also vide Section 83 of Finance Act, 1994, would be applicable where Service tax has been paid under protest?...

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Credit not to be reversed when inputs shown as scrap at lesser value and not written off

Goods and Services Tax - Whether reversal of Cenvat credit is required on the inputs which are shown as scrap & value of such inputs was shown at lesser value and not written off in the books of account?...

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CBEC launches GST mobile app & invites suggestions on AIR Duty Drawback rates under GST

Goods and Services Tax - CBEC has invited suggestions from Export Promotion Councils/ Commodity Boards/ Trade and Industry Associations/ Chambers of Commerce on All Industry Rates of Duty Drawback under the GST framework....

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Guide to Revised Model GST Law with Draft Rules

Goods and Services Tax - We are pleased to announce release of our Handbook on Goods and Services Tax, titled, GUIDE TO REVISED MODEL GST LAW (With Draft Rules on Registration, Payment, Invoice, Returns and Refund) [3rd Edition]...

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PHD Chamber’s Workshop on Audit, Investigation, Imprisonment & Customs – Drawback & Refund: Way Forward in GST

Goods and Services Tax - We are happy to inform that the Last Workshop in the above series is being organised on the following Themes: Audit, Investigation, Imprisonment and Power to Arrest provisions by multiple wings of Service Tax and Excise Department Customs – Drawback, Refund, and Imposition of various Customs duties and Implication of Import/ Export of G...

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Book Release 1st Edition of "GST – Introduction and Way forward"

Goods and Services Tax - Key features of the Book: ♠ Present indirect taxes—shortcomings, double taxation, cascading. ♠ GST – Need and Necessity, what it is, how it works, etc. ♠ Journey of GST, Proposed model of GST in India and best international practices. ♠ Taxes to be subsumed and not to be subsumed in GST...

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Workshop Series on Indirect Taxes : Works Contract under the Service Tax & VAT

Goods and Services Tax -   We are happy to inform that the Sixth Workshop under the series is being organised on the theme ‘Works Contract under the Service Tax & VAT  and other issues of Double Taxation and Transition Issues with Way forward in GST’ on Friday, 18 September, 2015 from 10:00 am till 04:30 pm at PHD House, […]...

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PHD Workshop on Mega Exemption under Service Tax and Point of Taxation Rules, 2011 – Relevance in GST Regime

Goods and Services Tax - Mega Exemption under Service Tax and Point of Taxation Rules, 2011 – Relevance in GST Regime  We are happy to inform that the Fourth Workshop under the series is being organised on the theme “Mega Exemption under Service Tax and Point of Taxation Rules, 2011 – Its relevance in GST Regime on Friday,  17 July, 2015 [&hellip...

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Entry tax levy upheld by the Supreme Court

Jindal Stainless Ltd. & Anr. Vs. State of Haryana & Ors. (Supreme Court) - Supreme Court upheld constitutional validity of Entry tax imposed by States. A nine-judge Constitution Bench, overrules 'compensatory tax' theory propounded by 7 judges bench...

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Inputs / Capital goods used in R&D and Quality Control Laboratory for input testing, final product samples eligible for Cenvat credit

Sabic Innovative Plastics (P.) Ltd. Vs Commissioner of Central Excise & Service Tax (CESTAT Ahmedabad) - Subic Innovative Plastics (P.) Ltd. (the Appellant) had taken Cenvat credit on inputs and capital goods used in Research and Development (R&D) and Quality Control Laboratory situated in the factory premises. ...

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Pre-delivery inspection charges and after sales service charges not includible in assessable value

Commissioner of Central Excise, Mysore Vs TVS Motors Company Ltd. (Supreme Court of India) - SC overruled the CESTAT Larger Bench decision in Maruti Suzuki case and held that pre-delivery inspection charges and after sales service charges are not to be included in assessable value- Commissioner of Central Excise, Mysore Vs. TVS Motors Company Ltd. [2015 (12) TMI 874 - SUPREME COURT]...

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Refund allowable where Service tax is paid twice by Appellant due to clerical error

Tikaula Sugar Mills Ltd. Vs CCE, Meerut-I (CESTAT Delhi) - Refund is allowable where Service tax is paid twice by the Appellant due to clerical error and the same is proved by supporting documents- Tikaula Sugar Mills Ltd. Vs. CCE, Meerut-I [2015 (12) TMI 884 - CESTAT NEW DELHI]...

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Provisions of interest on belated refund U/s. 27A of Customs Act also applies on belated refund of SAD

Principal Commissioner of Custom Vs Riso India (P.) Ltd. (Delhi High Court) - Principal Commissioner of Custom Vs. Riso India (P.) Ltd. (Delhi High Court) Duty' as defined in Section 2(15) of the Customs Act, is wide enough to cover all kinds of duty, including SAD. Hence, as per Section 3(8) of Customs Tariff Act...

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Notification No. 32/2015-Central Excise Dated- 4th June, 2015

Notification No. 32/2015-Central Excise - (04/06/2015) - Notification No. 32/2015-Central Excise Dated- 4th June, 2015 Ethanol produced from molasses generated from cane crushed in the sugar season 2015-16 i.e. 1st October, 2015 onwards, for supply to the public sector oil marketing companies, namely, Indian Oil Corporation Ltd., Hindustan Petroleum C...

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Clarification on rate of service tax on restaurant service

Circular No. 184/3/2015-Service Tax - (03/06/2015) - Circular No. 184/3/2015-ST Dated the 3rd June, 2015 It is further clarified that exemption from service tax still continues to services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess, other than those having the facility of air-conditioning or central ai...

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Custom Duty exemption on goods for relief of flood affected people of J&K

Notification No. 33/2014-Customs - (11/12/2014) - the floods in the State of Jammu and Kashmir (the State) from whole of the duty as specified under the First Schedule and whole of the additional duty as specified under Section 3 of the Tariff Act....

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Excise duty exemption on goods for relief of flood affected people of J&K

Notification No. 25/2014-Central Excise - (11/12/2014) - Grants exemption from Basic Excise Duty to goods donated or purchased out of cash donations for the relief and rehabilitation of people affected by the floods in the State of Jammu and Kashmir...

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Customs – Regarding adjudication of appraising related cases

Circular No. 14/2014-Customs Duty - (11/12/2014) - New posts have been created in the rank of Commissioners of Customs in DRI and DGCEI for adjudication of cases as investigated by DRI and DGCEI....

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Recent Posts in "CA Bimal Jain"

Key takeaways of 12th GST Council meeting

GST Council approves the Draft of SGST and UTGST Bills-Clearing the decks for introduction of a major indirect tax reform in the Parliament, the Goods and Services Tax (GST) Council, in its 12th meeting held on March 16, 2017, has approved the Draft Bills for implementing GST in States and Union Territories (UTs)....

Read More

Key takeaways of 11th GST Council meeting

GST Council, in its meeting held on March 4, 2017 has approved the Draft CGST Bill and the Draft IGST Bill. This clears the deck for the Central Government to take these two Bills to the Parliament for their passage in the on-going Budget Session....

Read More

Limitation period of one year is not applicable for claiming refund of taxes paid under protest

Whether limitation period of one year provided under Section 11B(1) of Excise Act, applicable to Service tax provisions also vide Section 83 of Finance Act, 1994, would be applicable where Service tax has been paid under protest?...

Read More
Posted Under: Excise Duty |

Credit not to be reversed when inputs shown as scrap at lesser value and not written off

Whether reversal of Cenvat credit is required on the inputs which are shown as scrap & value of such inputs was shown at lesser value and not written off in the books of account?...

Read More
Posted Under: Excise Duty |

CBEC launches GST mobile app & invites suggestions on AIR Duty Drawback rates under GST

CBEC has invited suggestions from Export Promotion Councils/ Commodity Boards/ Trade and Industry Associations/ Chambers of Commerce on All Industry Rates of Duty Drawback under the GST framework....

Read More
Posted Under: Excise Duty |

Key takeaways of 10th GST Council meeting

Prospects of Goods and Services Tax (GST) becoming a reality from July 1, 2017, brightened further with the GST Council clearing the legally vetted draft of the GST Compensation Bill, in its 10th meeting, held on February 18,t 2017 at Udaipur....

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Post sale discounts shall not form part of the turnover

The Appellant raised the tax invoices on the purchasers as per the policy of manufacturers of vehicles to maintain uniformity in the price thereof. After the sales were completed, credit notes were issued to the customers granting discounts, in order to meet the competition in the market and for allied reasons. ...

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Posted Under: Excise Duty |

Union Budget 2017: Key Changes in Excise Duty

Article discusses Legislative changes vide union budget 2017 regarding Authority for Advance Ruling/ Settlement of Cases, Amendments involving change in the duty rates, applicability of Section 5A of the Excise Act in respect of inputs imported or exported by EOU, Amendment in the Central Excise Rules, 2002, Changes in duty rates regardin...

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Union Budget 2017: Key Changes in Custom Duty

Article disusses amendment in Custom duty carried out /; Proposed by union budget 2017 related to Amendments in Customs Act, 1962 / Customs Tariff Act, 1975, Legislative changes regarding Authority for Advance Ruling/ Settlement of Cases, Amendments affecting rates of BCD etc....

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Union Budget 2017-Important Changes in direct taxes

Changes in Tax rates & Surcharge: Existing Income Tax rates for Individual or Hindu undivided family or every association of persons or body of individuals, whether incorporated or not, or every artificial juridical person having income of Rs. 2.5 lakhs to Rs. 5 lakhs is reduced to 5% from the present rate of 10%....

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