The matter was examined in detail and it has been decided to clarify to all concerned that since the objective of SION is to allow duty free import of the inputs which are actually used or are capable of being used in the export product, the exporter has the flexibility to import the alternative input / product mentioned in the SION.
The Income-Tax department is at loggerheads with the income Tax Appellate Tribunal (ITAT), the ultimate fact-finding body on tax disputes, over the latter’s demand for verifying the reasons for conducting a raid on FMCG major Marico Industries. ITAT had directed the department to produce the “satisfaction note”, which is an internal document prepared by income […]
The Income-Tax department is mulling tax on carbon credit trade, estimated to yield for the exchequer an estimated Rs 1,000 crore. The I-T department’s preliminary study has found that large companies listed on stock exchanges are not making tax provisions against the profits out of the sale of carbon credits and are putting the money […]
The safeguard duty imposed under this notification shall be effective upto and inclusive of the 8th October, 2009 (unless revoked, superseded or amended earlier).
Nothing contained in this notification shall apply to imports of Dimethoate Technical from countries notified as developing countries under clause (a) of sub-section (6) of section 8B of the said Act, other than the People’s Republic of China.
The regulations shall be applicable to all ‘Customs cargo service providers’ (CCSPs) that is to say all persons operating in a customs area and engaged in the handling of import/export goods. These include the Custodians holding custody of import / export goods and handling such goods and all persons working on behalf of such custodians such as fork lift or material handling equipment operators, etc. The regulations would also cover consolidators/ break bulk agents and other persons handling imported / export goods in any capacity in a customs area. The regulations provide for various responsibilities and conditions for different kinds of CCSPs.
Pre-shipment inspection certificate as per the format in Annexure I to Appendix 5 from any of the Inspection & Certification agencies given in Appendix-5 to the effect that the consignment does not contain radio active contaminated material in any form.
In exercise of powers conferred under Para 2.4 of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures.
7. We have heard both the parties and perused the relevant orders of the revenue authorities, the orders of the Tribunal as in quantum appeals, write-ups and the details relating to the investigations undertaken by the AO during the set aside proceedings referred to in the said orders. Factually, the assessee is a Cable Work Contractor and executed various contracts in the names of various concerns
5. Having heard the learned counsel for the Revenue as well as the assessee, we are of the view that no fault can be found with the reasoning of both the CIT(A) as well as the Tribunal. In our view, the issue raised by the Revenue before us that the liability under the “long service award” scheme of the assessee is contingent as the payment under the same scheme is dependent on the discretion of the management
