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Archive: 2013

Posts in 2013

Notification on Changes in Excise Duty Rates wef 08.05.2013

May 8, 2013 6203 Views 0 comment Print

Changes in Excise Duty Rates wef 08.05.2013 on jaggery powder, Particle/Fibre Board, flattened bamboo boards and bamboo flooring tiles, Clay bricks (Tariff Item 69010010) and roofing tiles (Tariff Item 69051000), Steel supplied to the Indian shipyards manufacturing ships and vessels [CETH 8901, 8902, 8904, 8905 (except sub heading 8905 20) or 8906]

ICAI to conduct Mock Tests for CPT students for June, 2013 Examination

May 8, 2013 3018 Views 0 comment Print

With a view to further encourage the students to evaluate their preparation for the examination, the Board of Studies has prepared CPT Mock Test Papers for CPT students to assess their preparation for the main examination to be held on 16th June, 2013.

Public Notice No. 11 (RE-2013)/2009-2014, Dated: 07.05.2013

May 7, 2013 496 Views 0 comment Print

Accordingly, names of the above agency is added at Serial No. 7 (Karnataka) of Appendix 4C (List of Agencies Authorized to issue Certificated of Origin-Non-Preferential) to Handbook of Procedure Vol.I, 2009-2014 (Appendices & ANFs).

Public Notice No. 10 (RE-2013)/2009-2014, Dated: 07.05.2013

May 7, 2013 457 Views 0 comment Print

The input Sodium Dithionate (Hy-drose) in Standard Input Output Norms at Sr. No.20 under G-7 and at Sr. No.22 under G-46, both in Leather Product Group, stands deleted. After deletion of Sodium Dithionate (Hy-drose) the total number of permissible inputs in G-7 and G-46 will be reduced to 42 inputs from existing 43.

Please do not blindly follow Western model of development and culture

May 7, 2013 583 Views 0 comment Print

There is a basic difference between Western culture and the Vedic culture, which is eternal. In the Indian or Vedic culture, our Rishis and Seers have always advised to have total control over our desire for sense gratification. Instead, it is advised that one should strive to evolve to a higher level of consciousness, where no craving is left for gratification of the senses. In India, we are advised to rise above the senses, as well as the mind and reach a stage where one can realize one’s real identity.

Commercial expediency cannot be mere availing of interest free loan from one assessee and giving interest free loan to another

May 7, 2013 2348 Views 0 comment Print

Facts :- learned Assessing Officer found that the assessee paid interest to the Banks amounting to Rs.13,64,522/- and has availed loans to the extent of Rs.60,22,364/- including secured loans of Rs.47,63,761/- from Punjab & Sind Bank and Rs.8,59,298/- from Andhra Bank.

Assessment of person not searched can be carried out u/s 158BD only by issue of proper notice

May 7, 2013 1204 Views 0 comment Print

Search operation was carried out in one M/s. G.B. & Company under section 132. Though the premises of the assessee were also searched during search operations, the same were in the capacity of an employee of the said company and not in individual capacity.

Levy Cheque return charges only if customer is at fault

May 7, 2013 4778 Views 0 comment Print

Cheque return charges shall be levied only in cases where the customer is at fault and is responsible for such returns. The illustrative,but not exhaustive, list of returns, where the customers are not at fault are indicated in the annex.

Rate of tax on Non-Dairy Whipp Topping under Delhi Value Added Tax, 2004?

May 7, 2013 3829 Views 0 comment Print

After going through the various schedules appended with the DVAT Act and judgment passed in the case of M/s Rich Graviss Products Pvt. Ltd. vs. Commissioner, Commercial Taxes, U.P., Lucknow by Commercial Taxes, Tribunal, U.P., Lucknow (Full Bench), I am of the considered view that that item i.e. ‘Non-Dairy Whipp Topping’ is preparation of fats […]

Whether Patang Charkhi, Dor & Manjha exempt from Tax under DVAT Act, 2004?

May 7, 2013 1707 Views 0 comment Print

After going through the various schedules appended with the Delhi Value Added Tax Act, 2004, I am of the considered view that items Patang Dor, Patang Manjha and Patang Charkhi are not covered by any other entry of any other schedule appended to the said Act and hence is an unspecified items under section (4) […]

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