Excise

The SC held that central excise duty can be levied on furniture permanently fixed to the walls or ground. It set aside the decision of the Customs, Excise and Service Tax Appellate Tribunal, Bangalore, which took a contrary view. This Mumbai Company was engaged in interior decoration of luxury hotels. It entered into turn-key contracts with its clients and furniture was part of the work contract. When the revenue authorities demanded excise duty, it protested the woodwor.. Full Article

CBI officials said the case, under different Sections of IPC and the Prevention of Corruption Act, was registered against R T Gulani, Assistant Commissioner, Reeta Nagarkar, Superintendent and Suneel Gawte, Inspector. Sudheer Wadhwani Food Processing Full Article

In a significant development, Department of Revenue has issued draft Authorized Economic Operator (AEO) Scheme for stakeholders engaged in international trade. Views/ comments of trade and industry are sought on the AEO Scheme by 15 December 2010 Full Article

The recent circular no. 120/01/2010-ST dated January 19, 2010 has been issued by the Board for claiming the refund of unutilized Cenvat credit under Rule 5 of Cenvat credit Rules by the service exporters. The above circular has tried to address all the problems faced by the service tax exporters in claiming such exemption. They have tried to give clarification on all the issues. But the famous Hindi proverb “lohe ke chane chabana” (Hard nut to crack) is apt for refun.. Full Article

The government is likely to come up with export sops for the domestic textiles industry in the upcoming Budget, including a rise in duty drawback rates. The over $55-billion industry, one of the  three largest foreign exchange earners along side IT and gems and jewellery, is not keeping pace with the government’s projections for the current [...] Full Article

The Union finance ministry is considering an increase in the central excise duty for some of the products that had benefited from the two rounds of reductions announced by the government as part of its fiscal stimulus measures last year. In December 2008, the government had reduced the general rate of central excise duty for [...] Full Article

In its recent Budget Maharashtra State Govt. And its Finance Minister offered a mixed bag for the industry, trade and individuals subjected to professional tax. Keeping in mind not the economic slowdown but the forthcoming State Assembly polls in October, the Finance Minister, Mr Dilip Walse Patil has announced exemption of salary upto Rs 5000 [...] Full Article

Notifications & Circulars :-Circular No.888/8/2009-CX dated 21/5/2009 F.No.276/109/2007-CX.8A New Delhi, the 21st May, 2009. Government of India, Ministry of Finance, Department of Revenue, (Central Board of Excise & Customs) Legal Section Subject : Power to condone delay beyond 180 days by High Court in application/appeals filed under Section 35H and 35G of Central  Excise Act, 1944 – Larger Bench decision of Supreme [...] Full Article