"December, 2008" Archive - Page 14

Amends Notification No. 86/2007-Customs Duty, dated 10th July, 2007

Notification No. 132/2008-Customs (10/12/2008)

In exercise of the powers conferred by sub-section (1) and sub-section (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, hereb...

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Tax Credits Available In the Annual Tax Statement for A.Y. 2008-09

The Income Tax Department (ITD) creates Annual Tax Statement of each taxpayer using their Permanent Account Number (PAN) as identifier. The tax statement contains details of tax paid by the taxpayer himself (self assessment/advance tax) and also details of tax deducted/collected from him during the financial year. ...

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Posted Under: Custom Duty |

No tax is deductible at source from service-tax included in a bill

The Finance Act, 1994, provided for levy of service-tax in respect of ‘Taxable services’. Section 68 of the aforesaid Act lays down that the provider of taxable services shall be liable for payment of service tax, at the specified rate. The relevant provisions in this regard are section 68 of the Finance Act, 1994, as also Rule 6 of t...

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Posted Under: Custom Duty |

Public Notice No. 113 (RE-2008)/2004-2009, Dated: 08.12.2008

Public Notice No. 113 (RE-2008)/2004-2009 (08/12/2008)

In pursuance of the provisions of paragraph 2.4 of FTP, the Director General of Foreign Trade (DGFT) hereby notifies the compilation known as HBP v1, HBP v2 and Schedule of DEPB rates. These compilations, as amended from time to time, shall remain in force ‘until further amendments’ except DEPB Scheme which shall continue to be operat...

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Public Notice No. 112 (RE-2008)/2004-09, Dated: 08.12.2008

Public Notice No. 112 (RE-2008)/2004-09 (08/12/2008)

A copy of Certificate of Physical Verification from the DCF/DFO of the concerned Division. The Physical Verification Report must be duly supported/mentionedwith the transit permit. The unexported materials against the licence obtained but lying in premises/godowns of the firm must also be inspected at that time and must be duly reflected ...

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Clarification regarding Service Tax Refund

Policy Circular No. 47 (RE-2008)/2004-2009 (08/12/2008)

Attention is invited to the Policy Circular No. 1 dated 11.4.08 on the above subject wherein in clause 2(c) of the said Circular, it was stated that “Clearing and Forwarding (C&F) Agency Service is not leviable to Service Tax”. Department of Revenue have now issued TRU Notification No. 33 dated 7.12.2008 allowing refund of Service T...

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Validity of assessment order for want of service of notice u/s 143(2)

ITO VS. VARIA PRATIK (ITAT A’BAD) Though s. 292BB comes into force on 1.4.2008 and not from any particular assessment year, it is declaratory, procedural and curative in nature and accordingly the validity of notices issued/served will have to be decided after 31.3.2008 in accordance with the provisions of section 292BB irrespective of ...

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Posted Under: Custom Duty |

Validity of order passed by ITAT after 4 months delay and without recording reasons

SHIVSAGAR VEG VS. ACIT It is incumbent upon the Tribunal, being the final authority of facts, to appreciate the evidence, consider the reasons of the authorities below and assign its own reasons as to why it disagrees with the reasons and findings of the lower authorities. The Tribunal cannot brush aside the reasons or findings recorded ...

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Appliability of TDS provision on a transaction between two foreign companies

It is settled law that a writ cannot be entertained against a mere show-cause notice unless the Court is satisfied that the show cause notice was totally non est in the eye of law for absolute want of jurisdiction of the authority to even investigate into facts. The assessee has not been able to demonstrate absolute want of jurisdiction i...

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Posted Under: Custom Duty |

Notification No. 70 (RE-2008)/2004-2009, Dated: 08.12.2008

Notification No. 70 (RE-2008)/2004-2009 (08/12/2008)

This Foreign Trade Policy (FTP) 2004-2009 (RE-2008), incorporating provisions relating to export and import of goods and services, shall come into force with effect from 1st April, 2008 and shall remain in force ‘till further amendments’ unless otherwise specified....

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