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Archive: 13 June 2008

Posts in 13 June 2008

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 16, 2024 3876 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 3501 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Allowability of deduction under section 80-IA of IT Act, 1961 claimed by a works contractor

June 13, 2008 3697 Views 0 comment Print

7. In the facts of the present case we find that the assessee undertook work on contract basis. The assessee took contract work of insitu cement lining for water supply project of the Gujarat Water Supply and Sewerage Board (Gujarat Government Undertaking). 8. Vide Finance Act, 2007 an Explanation was inserted with retrospective effect from 1-4-2000 after sub-section (13) of section 80IA, which reads as under:

Rescinds Notification No. 62/2007-Customs Duty , dated 3rd May, 2007

June 13, 2008 463 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government hereby rescinds the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 62/2007-Customs, dated the 3rd May, 2007, published in the Gazette of India Part II, Section 3, Sub-section (i) vide number G.S.R. 325(E) of the same date, except as respects things done or omitted to be done before such rescission.

Regarding exemption to iron ores and concentrates

June 13, 2008 352 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts iron ores and concentrates, all sorts, falling under Heading No. 11 of the Second Schedule to the Customs Tariff Act, 1975 (51 of 1975), when exported out of India, from so much of the duty of customs leviable thereon which is specified in the said Second Schedule as is in excess of the amount calculated at the rate of 15% ad valorem.

Regarding increase in export duty leviable on iron ores and concentrates

June 13, 2008 211 Views 0 comment Print

Therefore, in exercise of the powers conferred by sub-section (1) of section 8 of the said Customs Tariff Act, the Central Government hereby directs that the Second Schedule to the said Customs Tariff Act shall be further amended in the following manner, namely.

Amends Notification no. 66/2008-Customs Duty, dated 10th May, 2008

June 13, 2008 295 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 66/2008-Customs, dated the 10th May, 2008 which was published in the Gazette of India, Extraordinary, vide number G.S.R.359(E) of the same date, namely.

Notification No. 40/2008-Central Excise; Dated: 13.06.2008

June 13, 2008 388 Views 0 comment Print

The principal notification No.6/2006-Central Excise dated the 1st March, 2006, was published in the Gazette of India, Extraordinary, vide number G.S.R. 96(E) of the same date and was last amended vide notification No. 25/2008-Central Excise, dated the 29th April, 2008 which was published in the Gazette of India, Extraordinary, vide number G.S.R.316(E) of the same date.

Increases CENVAT leviable on motor vehicles and motor cars

June 13, 2008 301 Views 0 comment Print

Now, therefore, in exercise of the powers conferred by clause (b) of sub-section (1) of section 3 of the said Central Excise Tariff Act, the Central Government, hereby directs that the First Schedule of the said Central Excise Tariff Act shall be amended in the following manner, namely.

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