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Archive: 04 May 2009

Posts in 04 May 2009

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 5178 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 18, 2024 4419 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!

Service tax credit cannot be taken when service tax has not been shown to have been paid by service provider

May 4, 2009 6104 Views 0 comment Print

Service tax credit cannot be taken when service tax has not been shown to have been paid by service provider; once it is found that Cenvat credit was irregularly availed by the assessee and by implication to that extent the service tax on the output service was short paid, it has to be recovered under Rule 14 of the Cenvat Credit Rules, 2004.

A.S. Vasan & Sons (Bombay) Vs. The Union of India (Bombay High Court)

May 4, 2009 831 Views 0 comment Print

No appeal lies against the order rejecting an application for renewal of CHA Licence. In absence of any other remedy it is open to this Court to exercise its extraordinary jurisdiction in case where an application for renewal is rejected.

Public Notice No. 179 (RE-2009)/2004-2009, Dated: 04.05.2009

May 4, 2009 469 Views 0 comment Print

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, amendments/corrections at appropriate places as mentioned in ANNEXURE “A”to this Public Notice are made.

Export of Sugar – reintroduction of the system of export release orders w.e.f. 1.1.2009 for export under OGL

May 4, 2009 211 Views 0 comment Print

A producer of sugar by vacuum pan process or a merchant Importer/exporter shall be required to obtain an export release order from the Chief Director (Sugar), Directorate of Sugar or any other Officer authorized by the Chief Director (Sugar) for export of sugar whether under Open General Licence or Advance Authorization Scheme on ‘ton- to-ton’ basis or any other scheme permitting Export of sugar

Clarification regarding applicability of 36 months Export Obligation Period (EOP) under Duty Free Import Authorisation (DFIA) Scheme

May 4, 2009 424 Views 0 comment Print

Attention is invited to Public Notice Nos. 151 dated 26th February, 2009, 160 dated 6.3.2009, wherein the original Export Obligation Period (EOP) under the Advance Authorisation Scheme was increased to 36 months from the earlier original EOP of 24 months. Further, it was clarified vide Policy Circular No. 80 dated 13.4.09 that the said facility had been extended for all Advance Authorisations which are within 36 months from the date of issuance of the authorisation, as on 26-2-2009 or thereafter.

Amends notification No. 96/2008-Customs, Dated: 13.08.2008

May 4, 2009 580 Views 0 comment Print

further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 96/2008-Customs, dated the 13th August, 2008 which was published in the Gazette of India, Extraordinary, vide number G.S.R. 590 (E), dated the 13th August, 2008

Income Tax Department unearth penny stock scam worth 10000 cr?

May 4, 2009 1798 Views 0 comment Print

The income tax (I-T) department has detected a racket of money laundering through the secondary market, the first estimates of which show a whopping Rs 10,000 crore at stake at the national level. Though the `penny stock’ scam has been detected among traders of Chikpet locality in the heart of Bangalore, I-T officials do not […]

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