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Archive: 16 November 2012

Posts in 16 November 2012

Amends Customs House Agents Licensing Regulations, 2004

November 16, 2012 754 Views 0 comment Print

Notification No. 105/2012 – Customs (N.T.) Provided that licence granted to a Customs House Agent, authorized under the Authorised Economic Operator Programme, shall be valid till such time the authorization granted to the Customs House Agent under the Authorised Economic Operator Programme is valid.

Amends Handling of Cargo in Customs Areas Regulations, 2009

November 16, 2012 691 Views 0 comment Print

Notification No. 104/2012 – Customs (N.T.) Provided that the condition of furnishing of bank guarantee or cash deposit shall not be applicable to ports notified under the Major Ports Act, 1962 (38 of 1963) or to the Central Government or State Governments or their undertakings or to the Customs Cargo Service provider authorised under Authorised Economic Operator Programme.

Appointment of Common Adjudicating Authority

November 16, 2012 307 Views 0 comment Print

S.O. (E). – In exercise of the powers conferred by sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and C

Notification No. 102/2012-Customs (N.T.), Dated: 16.11.2012

November 16, 2012 439 Views 0 comment Print

S.O. (E). – In exercise of the powers conferred by sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby imposes the Additional Commissioner or Joint Commissioner of Customs (Import), Custom House, Kandla, to exercise the powers and discharge the duties as adjudicating authority over the powers and duties exercisable by – (i) The Additional Commissioner or Joint Commissioner

Notification No.101/2012-Customs (N.T.), Dated: 16.11.2012

November 16, 2012 559 Views 0 comment Print

S.O. (E). – In exercise of the powers conferred by sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby imposes the Joint Commissioner or Additional Commissioner of Customs, Inland Container Depot, Tughlakabad, New De

Notification No.100/2012-Customs (N.T.), Dated: 16.11.2012

November 16, 2012 295 Views 0 comment Print

S.O. (E). – In exercise of the powers conferred by sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby imposes the Joint Commissioner or Additional Commissioner of Customs, Custom House, Ahmedabad, to exercise the powers and discharge the duties as a common adjudicating authority over the powers and duties exercisable by – (i) the Joint Commissioner or Additional Commissioner of Customs, Custom House, Ahmedabad; and (ii) the Joint Commissioner or Additional Commis

ST Refund claim is to be filed by service recipient within one year from tax payment date

November 16, 2012 339 Views 0 comment Print

As rightly pointed out by the Ld. AR, the refund claim ought to be filed within a period of one year from the payment of service tax by the person claiming the refund as per the provisions of section 11B of the Central Excise Act, 1944 read with section 83 of the Finance Act, 1994. From the records it is seen that the appellant had paid the service tax on 24/10/2008, and the refund claim was filed on 28/01/2010 i.e. after a lapse of one year from the date of payment of tax. Therefore, the rejection of refund claim on account of time bar is sustainable in law.

Revised Guidelines for Authorized Economic Operator (AEO) programme for implementation

November 16, 2012 1996 Views 0 comment Print

Attention is invited to Board’s Circular No. 37/2011- Cus., dated 23.08.2011 which gives details on the ‘Authorized Economic Operator’ (AEO) Programme . The said Circular contains the salient features of the AEO Programme including the processing, validations and certification of AEOs. It also indicated Board’s decision to initially begin a pilot before finalizing the AEO Programme for a full scale roll out. Accordingly applications were invited for participation in the Pilot AEO Programme, which has since been completed.

For Deemed Dividend, accumulated profits do not include current year’s business profit, since it accrues only at end of year

November 16, 2012 8611 Views 0 comment Print

Thus, it has been held that the accumulated profits do not include current year’s business profit, since it accrues only at the end of the year. Further the loan or advance treated as deemed income up to the date of fresh loan is to be reduced from the accumulated profits. Consistent with the view taken by the Ahmedabad bench in the above said case, we also hold so.

Addition based on mere AIR not justified when income declared far exceeds the income shown in AIR

November 16, 2012 1603 Views 0 comment Print

Tribunal held that in the absence of any material brought by the revenue authorities that the assessee has received amount more than the professional fees which has been declared by him in the P&L account and when the professional income declared by the assessee far exceeds the professional fees shown in the AIR information, then additions solely based on the AIR information are not sustainable.

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