The Assessee is not entitled to deduction u/s 80IB on profit from DEPB Scheme and the cross objection filed by the Assessee was dismissed. In regard to Duty Draw Back Scheme, it has held by the division bench of the ITAT, Delhi that the receipt was in lieu of expenses earlier incurred by payment of excise and customs duty. Therefore, the receipt was in the course of the business of the industrial undertaking. Accordingly, it was entitled to exemption u/s 80IB.
In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.2), 2004-2009, as amended from time to time, addition/revision/amendments/corrections at appropriate places as mentioned in ANNEXURE “A” (Pages 1-3 ) to this Public Notice are made.
the short question for determination is, Whether operating systems (software) which controls the working of the computer and which is preloaded in the laptop (notebook) is classifiable as a separate entity under CTH 85.24 at ‘nil’ rate of duty or as an integral part of the laptop under CTH 84.71 at the appropriate rate of duty.
In second paragraph of Condition 6 of Chapter I A (General Notes to Import Policy) of the ITC (HS) Classifications of Export and Import Items 2004-2009 notified vide Notification No. 23 dated 14th August, 2007, M/s MMTC Limited, wherever appearing.
The principal notification was published vide number S.O. 829 (E), dated the 21st November, 1994 and was last amended vide number S.O. 1442 (E) dated the 21st August 2007.
In exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) read with rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government hereby rescinds the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 67/2005-Customs, dated the 19th July 2005, published in Part II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, dated the 19th July, 2005, vide number G.S.R. 480 (E), dated the 19th July, 2005, except as respects things done or omitted to be done before such rescission.
Therefore, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) read with rules 18 and 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government.
In exercise of powers conferred under Paragraph 2.4 of the of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade hereby makes the following amendment in Appendix- 5 of Handbook of Procedure.
In exercise of powers conferred under Paragraph 2.4 of the of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade hereby makes the following addition in Appendix-4 C of Handbook of Procedure.
The question before the Tribunal was whether Service Tax paid on outward transport of goods can be taken credit as input service. The issue is too well known for any detailed elaboration. Straight to what the Tribunal had to say; In a lucid and analytical dissection matching mathematical precision, the Tribunal observed.
