The Finance Minister has presented the Interim Budget 2014-15 in Lok Sabha today, i.e., 17.02.2014. Certain changes have been made in the effective rates of Customs and Central Excise. To give effect to these changes, the following notifications have been issued:
Learned Counsel for the Assessee submitted that the order imposing penalty does not disclose that prior approval of the Joint Commissioner was obtained in either of the two cases. He drew our attention to a judgment of this Court in the case of AWT No. 4 of 2003 and AWT No. 5 of 2003
A concessional basic customs duty of 5% [CVD (Nil)+ SAD (Nil)] has been provided to capital goods imported by Bank Note Paper Mill India Private Limited.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further
Recently Rule 21(8) of Punjab VAT Rules 2005 was introduced which provided that where some goods as input or output are lying in stock of a taxable person and where rate of tax is reduced from a particular date, then from that date, input tax credit shall be admissible to the taxable person on sale […]
The general excise duty on all machinery & equipment, appliances etc and parts thereof falling under Chapters 84 and 85 of the Central Excise Tariff has been reduced from 12% to 10%. The existing duty concessions, whether by way of tariff entry or notifications, will continue to be available as before [Sl.No.345 and 346 of the Table of notification No.12/2012-Cental Excise, dated 17.03.2012 as amended by notification No.4/2014- Central Excise, dated 17.02.2014 refers].
Government of India, Ministry of Finance, Department of Revenue, Tax Research Unit D.O.F. No. 334/03 /2014-TRU , Dated February 17, 2014. Subject: Union Budget 2014(Interim): changes in Service Tax – reg. In the Interim Union Budget, in Service Tax, two amendments have been made in notification number 25/2012-ST dated June 20, 2012: 1.1 Handling, storage […]
The Special Judge for CBI Cases, Madurai (Tamil Nadu) has convicted Shri D. Soundarapandian, then Income Tax Officer of Dindigul District and Shri Karuppusamy, a private person for causing loss of Rs.22.16 lakh (approx) to the government and sentenced them to undergo two years Rigorous Imprisonment with total fine of Rs.30,000/-.
Kaushal Agrawal This video shall help you to memorise chapter names and section numbers of income tax act 1961 in a very easy manner. There might be certain chapters and sections which I have left out intentionally. This lecture is meant for those students who have just started learning and studying tax. A first time […]
