Chandna Imp ex Private Limited vs Commissioner of Customs (Supreme Court of India) – Customs – Indirect Tax – Customs Act, 1962, ss. 2(34), 28AB, 111, 114 and 124 – Jurisdiction of DRI – Appeal u/s 130E – Undervaluation – Confiscation- Appellant was engaged in the business of import plywood, inlays, MDF laminated boards and veneer sheets etc. – In search operations, certain goods were seized from the premises of the appellant – A show cause notice was issued to the appellant by the DRI u/s. 124 of the Act alleging mis-declaration of quantity/ description and value of the goods – Subsequently, Commissioner ordered the confiscation of goods u/s. 111 of the Act, confirmed the demand u/s. 28AB of the Act and also imposed penalty u/s. 114 A on the appellant
M/s. Gammon India Ltd. Vs Commissioner of Customs (Supreme Court of India)- Customs – Exemption under notification no. 17/2001 Customs – Contract in the name of Joint Venture – Import of machine by one party to the joint venture – actual user condition – Appellant and ‘X’, entered into a joint venture agreement dt. 18.9.2000 for submitting a bid to the National Highways Authority of India (NHAI) for awarding a contract for construction of a road in India – The said joint venture was named as ‘Y’ – The bid tendered by the ‘Y’ was accepted by NHAI and an agreement was executed between NHAI and ‘Y’ – Subsequently, the Central Government issued exemption notification no. 17/2001-Cus., granting full exemption to the goods required for construction of roads
These rules may be called the Limited Liability Partnership Rules, 2009 (Amendment) Rules, 2011. Designated Partnership Identification Number (DPIN) means an identification number which the Central Government may allot to any individual, intending to be appointed as designated partner of a Limited Liability Partnership for the purpose of his identification as such, and includes Directors Identification Number (DIN) issued under sections 266A, 266B and 266E of the Companies Act, 1956 and rules made thereunder.
In a major haul, the VAT department of Government of Delhi has confiscated 56 trucks in the capital for transporting goods without paying the required taxes. The trucks were confiscated in an operation carried out by 15 teams comprising officials of VAT department last night during which checkings were carried out on 463 vehicles on all interstate roads connecting Delhi.
The government today extended duty-free import of sugar for two months till August-end amid inflationary pressure. The zero-duty sugar import deadline, which expired on June 30, has been extended till August 31, this year, a notification issued by the Finance Ministry said. The government had abolished import duty on sugar in February 2009 to boost domestic supply. Prior to that the import duty was 60%.
Had stated that the declaration of allocation of quantities against the applications received from 20.06.2011 to 25.06.2011 will be made on 06.07.2011. In response to this PN a total of 581 applications were received by e-mail. Some applicant had sent more than one e-mail. Some e-mails have been received from applicants who did not have any export performance in either of the past two cotton years. Some applicants had been defaulters. If all these applications are not counted then the number of eligible applicants come to 227.
Leading credit information company, CIBIL, on Wednesday launched Credit Information Reports for companies to help them access the system data before they go for raising a loan or other financial dealings. Till now, Credit Information Bureau India (CIBIL) shared data regarding a company’s financial history (loans drawn earlier, repayment history, etc) with banks which helped latter assessing the risk associated with a company before lending.
Advance Television Network Ltd. Versus The Registrar Of Companies (Delhi High Court) – Mr. Beri submits that the petitioner-company has not done any business since 2001-2002 and thus, it has not earned any income for the last ten years. He states there is no hope or prospect of the petitioner-company doing any further business as stated in its Memorandum of Association. He submits that keeping in view the long duration in which the petitioner company had not done any business, it would be just and equitable to wind up the petitioner company. In this context, he relies upon judgments in Surendra Kumar Pareek Vs. Shree Guru Nanak Oils Pvt. Ltd., (1995) 82 CC 642 (Raj.), A. Sreedharan Nair Vs. Union Hardwares (Private) Ltd., (1997) 89 CC 37 (Kerala) and Registrar of Companies, Bihar Vs. Shreepalpur Cold Storage Private Ltd., (1974) 44 CC 479 (Patna).
In exercise of the powers conferred by sub-section (1) of section 9 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby amends, Schedules C and D appended to the said Act, with effect from 00.00 hours of the 8 th July 2011, as follows, namely:—
As on 1st May, 2011, 119 services are taxable services in India. These taxable services are specified in Section 65(105) of the Finance Act,1994. Section 64 of the Finance Act, 1994, extends the levy of service tax to the whole of India, except the State of Jammu & Kashmir. Generally, the liability to pay service tax has been placed on the ‘service provider’. However, in respect of the taxable services notified under Sec.68(2) of the Finance Act,1994, the service tax shall be paid by such person and in such manner as may be prescribed at the rate specified in Sec.66 of the Act and all the provisions of Chapter-V shall apply to such person as if he is the person liable for paying the service tax.
