"February, 2010" Archive

Service Tax – On-going Works Contract as on 01.06.2007 – Prima facie case alone is not sufficient for granting stay – Tribunal to follow principles for granting stay

Lanco Infra Tech Ltd Vs Customs, Excise And Service Tax Appeallate Tribunal Bangalore And Another (Andhra Pradesh High Court)

Bench enumerated the following principles to be kept in mind while considering the applications for stay or waiver of pre-deposit under Section 35F of the Act. 1) The applications for stay should not be disposed of in a routine manner unmindful of the consequences flowing from the order requiring the assessee to deposit full or part of th...

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Comprehensive Note on gifts, deemed gifts and deemed under-valuations incorporating proposals by the Finance Bill, 2010

Section 56(2) of the Income Tax Act, 1961 inter alia deals with receipts without considerations. Since most of such receipts tantamount to gifts, the provisions are popularly named as those of gifts and deemed gifts. Till 30 09 2009 only sum of money received without consideration was treated as income in the hands of the recipient being...

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Posted Under: Service Tax |

To avoid penalty for late payment, pay excise duty with interest

WHEN section 11A(2B) of the CEA, 1944 made its appearance in the statute by the Finance Act, 2001 it came as a whiff of fresh air for assessees who had not paid, short paid, short levied/paid any duty of excise. The provision allowed a manufacturer to pay such un-paid Central Excise duty along with interest under section 11AB of the CEA, ...

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Posted Under: Service Tax |

Penalty can’t be levied, if service tax is paid before issuance of SCN U/s. 73(3)

SECTION73 (3) of Finance Act, 1994, provides for non-serving of notice under Section 73(1) by department in such cases where service tax has been paid before issuance of notice. However, there is no clarity whether department can still initiate proceedings for imposing penalty under Section 76 or 78. Though, CBEC clarified sometime back t...

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Posted Under: Service Tax |

Commercial Training or Coaching Services – Most Affected by finance Bill 2010

vocational training institute means a commercial training or coaching centre which provides vocational training or coaching that impart skills to enable the trainee to seek employment or undertake self-employment, directly after such training or coaching;...

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Posted Under: Service Tax |

Excise Duty notifications related to Union budget 2010-11

All the Excise duty Notification including Tariff and Non Tariff issued by Custom department in respect of budget proposals/provisions in Union Budget 2010-11. Read our earlier Post on Major Amendment in Excise Duty made in Budget 2010-11 at the Link given below:- Budget 2010-11: Major Amendment in Central Excise Duty. . Notifications are...

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Posted Under: Service Tax |

Custom duty notifications dated 27.02.2010 related to Union budget 2010-11 amendments and provisions

NA 28/02/2010

All the Custom duty Notification including Tariff and Non Tariff issued by Custom department in respect of budget proposals/provisions in Union Budget 2010-11. Read our earlier Post on Major Amendment in Custom Duty made in Budget 2010-11 at the Link given below:-Budget 2010-11: Summary of Major Amendment in Custom duty Laws...

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Custom duty relief for importing digital films: Budget 2010-2011

The Union Budget 2010-11 proposes to rationalize the differential custom duty structure for importing digital masters of films for duplication or distribution in electronic medium and in cinematographic film. Henceforth custom duty would be charged only on the value of the carrier medium....

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Posted Under: Service Tax |

Micro-wave ovens, pre-packaged imported goods, mobile phones, watches, ready made garments, toy balloons, long pepper, replaceable household water filters to be cheaper

Outright exemption from special additional duty provided to goods imported in a pre-packaged form for retail sale. This would also cover mobile phones, watches and ready-made garments even when they are not imported in pre-packaged form. The refund-based exemption is also being retained for cases not covered by the new dispensation. ...

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Posted Under: Service Tax |

Rebate under Rule-18 on export made during 8.12.2006 to 17.9.2007

Welspun Gujarat Stahl Rohren Ltd & 1 Vs Union of India & 4 (Gujarat High Court)

The company being an unit located in Kutch District is entitled to the benefit of Notification No.39/2001-CE dated 8.7.2001. At the time of removal of the goods from the factory for export, the Company paid duty of excise as is evident from the statutory invoices issued by the Company. The Company accordingly applied for rebate under Rule...

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