"14 April 2013" Archive

In case of short receipt of payment post intimation U/s. 73(3) department must send a letter asking for payment instead of SCN

VSE Stock Services Ltd. Vs Commissioner of Central Excise, Vadodara-II (CESTAT Ahmedabad)

In this case, the appellants had Calculated and paid the entire amount of credit with interest and on finding that there was a short-fall in payment, the proviso of Sec.73 (3) of the Finance Act, 1994 would come into play and, therefore, the concerned Central Excise Officer should have informed the assessee instead of issuing show-cause n...

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Rule 3(5) of Cenvat Credit Rules not applicable to credit availed on input services

Seven Star Steels Ltd. Vs Commissioner of Central Excise, Customs & Service Tax (CESTAT Kolkata)

Appellants had procured iron ores during the period April 2007 to March, 2009, which were used in the manufacture of their final product, namely, sponge iron. In bringing the said iron ores, which were used as input, the appellants had paid service tax on GTA services. Consequently, they had availed cenvat credit on the amount of service ...

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Appeal can be dismissed for non-compliance with provisions of sec. 35F of Excise Act, 1962

Gupta Builders Vs C.C.E. (CESTAT Delhi)

Vide stay order No.ST/S/177/12-Cus dated 8.2.2012 the appellant was directed to deposit an amount of Rs. 30 lakh. Subsequently, the matter came up for ascertaining compliance and as the appellant expressed his desire to file modification application, the matter was adjourned and listed on 20.7.2012....

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Duty on Steel items used in fabrication of storage tank eligible for input credit

LSR Speciality Oils (P.) Ltd. Vs Commissioner of Central Excise (CESTAT Mumbai)

As per explanation to Rule 2(k) of the CENVAT Credit Rules, 2004, storage tanks have been specified as capital goods and, therefore, inputs which are used in the manufacture of capital goods are also eligible for CENVAT credit. It is not in dispute that the steel items such as M.S. angles, H.R. sheets have not been used in the constructio...

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FAQ on Service Tax Voluntary Compliance Encouragement Scheme, 2013

Query -What is VCES? Reply- VCES is a new amnesty scheme introduced vide Chapter VI of the Finance Bill, 2013 (the Finance Bill), to encourage voluntary compliance by defaulter of Service Tax under Chapter V of the Finance Act, 1994 (the Finance Act). ...

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Posted Under: Excise Duty |

New Forms for filing appeal under Customs, Excise & Service tax laws w.e.f. 1-6-2013

Please note that the Central Government has amended the Customs (Appeals) Rules, 1982 [the Customs (Appeals) Rules] vide Notification No. 37/2013-Customs (N.T.) dated April 10, 2013. These rules may be called the Customs (Appeals) (Amendment) Rules, 2013 [the Customs Amendment Rules] which will come into force from June 1, 2013.  The Cus...

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Posted Under: Excise Duty |

Remedies for Cheque Bounce

 According to statistics of Supreme Court; there are over 40 lakh pending cases of cheque bounce in the country. Lack of adequate knowledge has brought most of people in the situation of losing money. Here are some of the remedies a person can opt for while dealing with issues pertaining to return of cheque:...

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Posted Under: Excise Duty |

Deduction not claimed in Return U/s. 139(1) can be claimed in Return filed U/s.153A

The Assistant Commissioner of Income-tax Vs. Shri V.N. Devadoss (ITAT Chennai)

In the present case, the assessees being the builders, had the option to recognize their income either on percentage completion method or on project completion method. Therefore, it was not certain to hold that the assessees were liable at all to file returns under section 139(1). Whether the assessees had recognized their income for the ...

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Rent disallowed as receiver was neither owner & nor having possession of property rented

Gujarat Ambuja Protiens Ltd. Vs Assistant Commissioner of Income Tax (Gujarat High Court)

It is true that as per the agreement dated 13.9.1991, the assessee company was obliged to make payment for godown space which the assessee committed to hire from M/s. Coastal Roadways Ltd irrespective of whether such godowns utilised by the assessee or not. However, it is a matter of considerable importance that M/s. Coastal Roadways Ltd....

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