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Archive: 03 September 2014

Posts in 03 September 2014

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6396 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19407 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

DVAT – Objection Hearing Authority may impose a pre-condition to deposit disputed tax amount for the period after October 1, 2011

September 3, 2014 2297 Views 0 comment Print

PROVIDED ALSO that the Commissioner may, after giving to the dealer an opportunity of being heard, may direct the dealer to deposit an amount deemed reasonable, out of the amount under dispute, before such objection is entertained.

क्या अब कर कानूनों के सरलीकरण का युग समाप्त हो चुका है

September 3, 2014 1257 Views 0 comment Print

कर कानूनों में सरलीकरण का वादा कम से कम दो दशक पूर्व किया गया था जिसे प्रत्येक सरकार एवं वित्त मंत्री ने बार –बार दोहराया है और प्राम्भिक अवस्था में इस पर काफी कार्य भी किया गया था. केन्द्रीय सरकार के साथ –साथ सभी राज्यों की सरकारों ने भी इस सम्बन्ध में अपने –अपने करदाताओं को इस प्रकार के वायदे बार –बार दोहराए है . इन सभी के पीछे लक्ष यह था कि सरकार का कर संग्रहण भी बराबर होता रहे और करदाताओं को भी कम से कम कष्ट हो .

Refund of excess duty paid on provisional basis won’t attract doctrine of unjust enrichment

September 3, 2014 2382 Views 0 comment Print

In the instant case, shipping agent of the Atlantic Shipping (P.) Ltd. (the Respondent) paid the provisionally assessed Customs duty on estimated quantity of bunker fuel to be consumed during the coastal run.

Assessee Can choose most beneficial Notification when 2 Notifications simultaneously applicable at a time

September 3, 2014 2090 Views 0 comment Print

Arvind Ltd. was a composite textile mill engaged in the manufacture of 100% cotton fabrics which were cleared for export as well as for home consumption. The Appellant was simultaneously availing exemption under Notification No.29/2004- CE-Tariff dated July 9, 2004 (“the Notification No.29/2004”) and 30/2004-CE‑Tariff dated July 9, 2004 .

Cenvat credit is available on capital goods even if they are moved out temporarily from factory

September 3, 2014 1388 Views 0 comment Print

The Hon’ble CESTAT observed that Rule 2(a) of the Credit Rules provide that the condition for availing Cenvat credit on capital goods is their use within the factory of the manufacturer of final products. It was held that there was no requirement under the Credit Rules that the capital goods must be installed within the factory of production.

Cenvat Credit cannot be denied of Service tax wrongly paid under reverse charge

September 3, 2014 7270 Views 2 comments Print

Cenvat Credit of the Service tax wrongly paid under reverse charge is nothing but refund of the erroneously paid Service tax which cannot be denied Bajaj Allianz General Insurance Co. Ltd. Vs. Commissioner of Central Excise, Pune-III [2014-TIOL-1540-CESTAT-MUM] Bajaj Allianz General Insurance Co. Ltd. (“the Appellant”) is engaged in the business of providing General insurance […]

Excess Service tax paid can be adjusted with future Service Tax liability

September 3, 2014 5578 Views 0 comment Print

Excess Service tax paid can be adjusted with future Service Tax liability and cannot be denied on the ground of not having centralised registration or can be subjected to monetary limit. General Manager (CMTS) Vs. Commissioner of Central Excise [2014 (8) TMI 589 – CESTAT NEW DELHI] General Manager (CMTS) (“the Appellant”) are engaged in […]

Benefit of Small service provider exemption notification cannot be denied if Cenvat credit initially availed on input service but reversed later on

September 3, 2014 1610 Views 0 comment Print

The Hon’ble CESTAT, Delhi also relied upon the Hari Chemical case wherein it was held that only because in his books of accounts entries are made for taking of the credit in terms of one provision of the Rules, the same if ultimately found to be inapplicable and return of the credit is taken effect, we are of the opinion that there cannot be any legal bar in claiming the exemption under another rule. Thus, the Hon’ble Tribunal observed that though the Assessee has taken credit on input service during the period but have not utilized the same and have reversed later on, benefit of the SSI Exemption Notification cannot be denied and decided against Revenue.

Explanation 5 to Section 9(1)(i) – “Substantial” clarity by Delhi HC

September 3, 2014 7538 Views 0 comment Print

Explanation 5 to section 9(1)(i) of the Income-tax Act, 1961 (“the Act”) introduced by the Finance Act 2012 is no longer res integra in view of the pronouncement by the Delhi High Court. In its recent judgement in the case of DIT vs. Copal Research Limited And Ors.: W.P. 2033/2013, the Delhi High Court has held that gains arising from sale of shares of a company incorporated overseas, which derives less than 50% of its value from assets situated in India would not be taxable under section 9(1)(i) of the Act.

Non-Receipt of Chartered Accountant Journal

September 3, 2014 19549 Views 4 comments Print

Non-Receipt of The Chartered Accountant Journal This is for the information of Members/subscribers who fail to receiveThe Chartered Accountant journal despatched to them either due to un-intimated change of address or postal problems. Members and Students are requested to inform the respective regions immediately after you change the address to ensure regular and timely delivery […]

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