"31 March 2011" Archive

Regarding compliance for revision in the Customs part of Arrival Card for Passengers in Form ‘D’ – Notification issued by Ministry of Home Affairs

Circular No. 16/2011-Custom Duty 31/03/2011

Circular No.16/2011-Customs - The issues of increasing imports of satellite phones in passenger baggages without obtaining authorization and import of foreign exchange in excess of amount of US $10,000/- or equivalent without declaration to Customs have been referred to MHA for redressal by making suitable modifications in the Customs par...

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Notification No. 25/2011 – Customs (N. T.) amends Notification No. 36/2001-Cus (N. T.), dated, the 3rd August 2001

Notification No. 25/2011-Customs (N.T.) 31/03/5201

Notification No. 25/2011 - Customs (N. T.), New Delhi, 31st March, 2011. S. O… (E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of...

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Cenvat Credit (Third Amendment) Rules, 2011 – Amendment in rules 4, 6 and 9

Notification No. 13/2011-Central Excise (N.T.) 31/03/2011

NOTIFICATION NO. 13/2011 - CENTRAL EXCISE (N.T.)- The CENVAT credit in respect of input service shall be allowed, on or after the day on which the invoice, bill or, as the case may be, challan referred to in rule 9 is received: Provided that in case of an input service where the service tax is paid on reverse charge by the recipient of th...

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CBEC circular comes into effect on the date of issue & not from date when it is notified

Commissioner of Central Excise Vs Kedia Vanaspathi Ltd. (Andhra Pradesh High Court)

There is no dispute that C.B.E. & C. issued circular dated 27-12-2002. As per the circular, in case of bulk liquid cargo imports, shore tank receipt quantity should be taken as the basis for levy of customs duty. The Adjudicating Authority came to the conclusion that C.B.E.& C.'s circular comes into effect from 24-3-2003 on which date the...

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Consolidated FDI Policy (Effective from 1-4-2011)

Condolidated FDI Circular No. 1 of 2011 31/03/2011

Circular 1 of 2011 on FDI- (i) Pricing of Convertible instruments. (ii) Inclusion of fresh items for issue of shares against non-cash considerations (iii) Removal of the condition of prior approval in case of existing joint ventures/ technical collaborations in the ‘same field” (iv) Guidelines relating to down-stream investments (...

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FEMA – Export of Goods and Software – Realisation and Repatriation of export proceeds – Liberalisation

A.P. (DIR SERIES) CIRCULAR NO. 47 31/03/2011

FEMA : Export of Goods and Software – Realisation and Repatriation of export proceeds – Liberalisation. A.P. (DIR SERIES) CIRCULAR NO. 47, DATED 31-3-2011. Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 57, dated June 29, 2010 enhancing the period of realization and repatri...

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Govt liberalises FDI policy to boost inflows

Relaxing rules for foreign direct investment (FDI) in the country, the Government today decided to permit issuance of equity to overseas firms against imported capital goods and machinery. -- D. Gopalakrishnan...

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Posted Under: Custom Duty |

Collection of electricity bills and telephone bills on behalf of electricity boards and telecom companies is not taxable under Business Auxiliary Service

CCE Vs M/s Corporation Bank (CESTAT Bangalore)

I, however, find that prior to 10/09/2004 collection of cheques / bills etc. was not part of business auxiliary service and scope of customer care service cannot be stretched to cover such collection prior to this date under sub-clause (iii) of definition. Customer care service relates to post sale services rendered to the users / consume...

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Service Tax – 20% restriction under Rule 6(3) of the CENVAT Credit Rules 2004 not applicable to credit availed on capital goods

M/s BSNL Vs CCE (CESTAT Bangalore)

We find that as per the appellant, major amount of demand working out to Rs.12.07 crores pertains to capital goods credit utilised. We note that the Commissioner wrongly found that the restriction contained in Rule 6(3) of CCR as regards the use of cenvat credit above 20% of the tax paid applied to credit of capital goods also. In the cir...

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Commissioner of Customs and Central Excise Vs. ITW India Limited (Andhra Pradesh High Court)

The Commissioner of Customs & Central Excise Vs M/s. ITW India Limited (Andhra Pradesh High Court)

The chemicals namely ZYGLO-ZP-4B and 9C RED concentrate were received in bulk packing of 205 litre of drums and those were repacked into small packs of 1 kg. and cleared as ‘trading goods’ without payment of duty. the Deputy Commissioner had made an order on 03-02-1998 in respect of one of the items covered thereunder and held that t...

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