CENVAT Credit is available on Capital goods used by manufacturer or service provider. Let us discuss the intricacies of CENVAT on capital goods which is most contentious issue nowadays.
Buy goods from a trusted seller who files return and thereby pays due tax collected from you. Mere 2B statement filing by selling dealer not sufficient – selling dealer needs to back it up with return.
In this case only interest of Rs 2,96,731/- was paid on funds utilized for making investments on which exempted income was receivable. Further it was observed that in respect of investment of Rs. 6,07,775,000/- made in subsidiary companies , they are attributable to commercial expediency, because as per submission made by the assessee,
Whether the Order passed by Revenue under Service Tax Voluntary Compliance Encouragement Scheme, 2013 (VCES) is appealable? The High Court has held that the Order passed under the Scheme is appealable. It was held that VCES is part and parcel of Finance Act, 1994 by virtue of amendment made by the Finance Bill, 2013
The Cabinet has approved revision of the Code of Conduct for Ministers in the Government of India as well as the State Governments. It is now proposed to include a new para in the Code of Conduct which will read as follows: “2. After taking office, and so long as he/he remains in office, […]
Mere production of PAN Number or assessment particulars does not establish the identity of a person. The identification of a person includes the place of work, the staff and the fact that it was actually carrying on business and further recognition of the said company/individual in the eyes of public.
There are two types of cases. One in which the assessing officer carries out the exercise which is required in law and the other in which the assessing officer ‘sits back with folded hands’ till the assessee exhausts all the evidence or material in his possession and then comes forward to merely reject the same on the presumptions.
At this juncture Shri Mishra in a malicious and contemptuous manner alleged that the Bench is hurrying the justice and burying the justice. Such type of unprovoked utterances from a Commissioner of Income Tax
Notification No. 130/13-CUSTOMS (N. T.), Dated : 13th December, 2013 – Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds and Gold, Silver and Areca Nuts Notified
