"16 September 2014" Archive

ITR Due date extended to 30.11.2014 for assessees In state of Jammu & Kashmir

Order under Section 119 - F. No. 225/268/2014/ITA.II (16/09/2014)

Extension of due-date for filing returns of Income From 30-9-2014 To 30-11-2014 By assessees In state of Jammu & Kashmir - Order-Instruction - Dated 16-9-2014 - Income Tax...

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Transfer out PAN from old/orphan jurisdictions to jurisdictional AOs – DIT to Nodal officers

Letter [F.NO.SW/3/3/96/01-DIT(S)] (16/09/2014)

Migration of Pans Lying in Old/Orphan Jurisdiction and Review of AO Codes Where no Employee Number is Attached...

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Amends Notification No. 83/2004- Customs (N.T.), the dated 30th June, 2004

Notification No. 85/2014-Customs (N.T.) (16/09/2014)

In exercise of the powers conferred by sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes following further amendments in notification of the Government of India in the Ministry of ...

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Notification No. 84/2014-Customs (N.T.) Dated: 16/09/2014

Notification No. 84/2014-Customs (N.T.) (16/09/2014)

In exercise of the powers conferred by sub-section (1) of section 4, read with sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the following officers specified in column (2) of the ...

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Notification No. 83/2014-Customs (N.T.) Dated: 16.09.2014

Notification No. 83/2014-Customs (N.T.) (16/09/2014)

In exercise of the powers conferred by sub-section (1) of section 4, read with sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the following officers specified in column...

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Amends Notification No. 17/2002-Customs (N.T.), the dated 07th March, 2002

Notification No. 82/2014-Customs (N.T.) (16/09/2014)

In exercise of the powers conferred by sub- section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following amendments in notification of the Government of India in the Ministry of ...

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Supersession of Notification No. 36/2009-Customs (N.T.), the dated 17th March, 2009

Notification No. 81/2014-Customs (N.T.) (16/09/2014)

In exercise of the powers conferred by sub-section (1) of section 4, read with sub- section (1) of section 5 of the Customs Act,1962 (52 of 1962) and in supersession of the notification of the Government of India in the Ministry of Finance...

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Supersession of Notification No. 27/2009-Customs (N.T.), the dated 17th March, 2009

Notification No. 80/2014-Customs (N.T.) (16/09/2014)

In exercise of the powers conferred by sub-section (1) of section 4, read with sub-section (1) of section 5 of the Customs Act,1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance, Department of ...

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Notification No. 79/2014-Customs (N.T.), Dated: 16.09.2014

Notification No. 79/2014-Customs (N.T.) (16/09/2014)

In exercise of the powers conferred by sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962) and in supersession of notification of the Government of India in the Ministry of Finance (Department of Revenue) No.85/2012-Customs ...

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Supersession of Notification No. 15/2002- Customs ( N.T.), the dated 07th March, 2002

Notification No. 78/2014-Customs (N.T.) (16/09/2014)

In exercise of the powers conferred by sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962) and in supersession of notification of the Government of India in the Ministry of Finance...

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Supersession of Notification No. 14/2002- Customs ( N.T.), the dated 07th March, 2002

Notification No. 77/2014-Customs (N.T.) (16/09/2014)

In exercise of the powers conferred by sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962) and in supersession of notification of the Government of India in the Ministry of Finance...

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How Professionals can profit from having a savings account

Whenever a union budget is realised or the government changes hands, we all believe that the future of working professionals will look better. Particularly, when it comes to saving money, working professionals have their eyes glued-on on every aspect of the budget to see where they can save money. Apart from the changes in the […]...

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Posted Under: Income Tax |

Notification No. 22/2014-Service Tax dated 16th September, 2014

Notification No. 22/2014-Service Tax (16/09/2014)

clause (b) of section 2 of the Central Excise Act, 1944 (1 of 1944), read with clause (55) of section 65B of the Finance Act, 1994 (32 of 1994), rule 3 of the Central Excise Rules, 2002 and rule 3 of the Service Tax Rules, 1994 and in supercession of the notification No. 46/98-SERVICE TAX, dated the 28th January,1998, published vide numbe...

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Notification No. 21/2014 – Service Tax dated 16th September, 2014

Notification No. 21/2014-Service Tax (16/09/2014)

In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service provided by a Central or State Seed Testing Laboratory ...

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Public Notice No. 69 (RE-2014)/2009-2014, Dated: 16.09.2014

Public Notice No. 69 (RE-2014)/2009-2014 (16/09/2014)

In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, as amended from time to time, Director General of Foreign Trade hereby makes the addition of one new entry at SI. No. E-132 in the Handbook of Procedure, Vali (2009-14) as under....

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SEBI amendments to Clause 49 of Equity Listing Agreement

SEBI has received representations from market participants including companies and industry associations, highlighting certain practical difficulties in ensuring compliance, seeking clarifications on interpretation of certain provisions and suggesting various options to ease the process of implementation. ...

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Posted Under: Income Tax |

Notification No. 40/2014-Customs (ADD) Dated: 16.09.2014

Notification No. 40/2014-Customs (ADD) (16/09/2014)

he designated authority in its aforesaid findings, has recommended imposition of provisional anti-dumping duty on the subject goods, originating in or exported from the subject country and imported into India, in order to remove injury to the domestic industry....

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Delegation of powers of CBEC under rule 3 of Central Excise Rules, 2002

Notification No. 29/2014-Central Excise (N.T.) [G.S.R 653(E).] (16/09/2014)

G.S.R (E).- In exercise of the powers conferred by section 37A of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby delegates the powers of the Central Board of Excise and Customs under rule 3 of the Central Excise Rules, 2002, to the Principal Chief Commissioner of Central Excise or the Chief Commissioner of Central...

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Services provided for transportation of ‘waste’ through pipeline is not taxable as transportation of ‘goods’ through pipeline

Gujarat State Fertilizers and Chemicals Ltd. Vs. Commissioner of Central Excise, Vadodara [2014-TIOL-1 729-CESTA T-AHM] Gujarat State Fertilizers and Chemicals Ltd. (the Appellant) has rendered services of transportation of effluent through pipeline or conduit to Heavy Water Project (HWP) for consideration. The Department contended that t...

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Posted Under: Income Tax |

Notification No. 28/2014-Central Excise (N.T.), Dated: 16.09.2014

Notification No. 28/2014-Central Excise (N.T.) (16/09/2014)

G.S.R (E) In exercise of the powers conferred by clause (b) of section 2 of the Central Excise Act, 1944 (1 of 1944) read with sub-rule (1) of rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes the following further amendments in the notifications of the Government of India in the Ministry of Fi...

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The presumption of unjust enrichment is a rebuttable presumption

Commissioner of Customs Vs. Apple India Pvt. Ltd. [2014-TIOL-1544-HC-KAR-CUS] In the instant case, Apple India Pvt. Ltd. (the Respondent) filed a refund claim of Rs.5,22,27,424/- of Special Additional Duty (SAD) in terms of the Notification No. 102/2007-Cus.(N.T.) dated September 14, 2007. The authorities rejected the said claim of refund...

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Posted Under: Income Tax |

SC On Levy of Surcharge U/s 113 Proviso In Search Cases

CIT Vs Vatika Township (Supreme Court of India)

The aforesaid discursive of ours also makes it obvious that the conclusion of the Division Bench in Suresh N. Gupta treating the proviso as clarificatory and giving it retrospective effect is not a correct conclusion....

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Cheque discounting charges is an interest &not includible in assessable value of goods for levying Excise Duty

Cadbury India Ltd. Vs. Commissioner of Central Excise-Indore [(2014) 48 taxmann.com 78 (New Delhi – CESTAT)] Cadbury India Limited (“the Appellant”) filed an appeal against the order of the Commissioner (Appeals) wherein the learned Commissioner held that the cheque discounting charges would be includible in the assessable value...

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Posted Under: Income Tax |

Deemed exports would be treated as physical exports for the purpose of claiming refund under the Cenvat Credit Rules, 2004

Commissioner of Central Excise and Customs Vs. Anita Synthetics Private Limited [2014 (9) TMI 368 – Gujarat High Court] Anita Synthetics Private Limited  (The Respondent) is a 100% EOU and made clearance of goods to another 100% EOU. Such clearance is treated as a deemed export as mentioned in the EXIM Policy. Therefore, the Respondent...

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Posted Under: Income Tax |

No personal penalty can be imposed on employees when penalty on Company is set aside

Commissioner of Central Excise Vs. Chandresh C. Shah [(2014) 48 taxmann. com 236 (Gujarat)] In the instant case, the Revenue issued a Show Cause Notice (SCN) against Doshion Ltd. (the Company) for recovery of wrongly availed Cenvat credit along with interest and penalty thereon. Further, personal penalty was also imposed against authorize...

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Posted Under: Income Tax |

Unjust Enrichment not applicable on refund of Service tax paid when no services are received under reverse charge

Unjust Enrichment not applicable on refund of Service tax paid when no services are received under reverse charge and payment thereof had been adjusted between associated enterprises Wolters Kluwer India Ltd. Vs. Commissioner of Service Tax, Delhi [(2014) 48 taxmann.com 97 (New Delhi – CESTAT)] Wolters Kluwer India Ltd. (the Appellant) ...

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Posted Under: Income Tax |

Input service distributor is not required to be a manufacturer or output service provider to avail Cenvat credit

Moser Bear India Ltd. Vs. CCE, Noida [TS­368-Tribunal-2014(DEL)] The head office of Moser Bear India Ltd. (the Appellant), located at Delhi is registered as an input service distributer (ISD) in terms of Rule 2(m) of the Cenvat Credit Rules, 2004 (the Credit Rules). The head office was discharging Service tax liability under Reverse Char...

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Posted Under: Income Tax |

Extend ITR due date ; Release Audit Forms & ITR before 1st April every year – ICAI to CBDT

In the interest of the nation as a whole we suggest and request that: a) the due date of filing return of income under section 139(1) for assessees mentioned under clause (a) of Explanation 2 to section 139 (1) be extended in line with the extension granted for submission of tax audit report under section 44AB of the Act. b) Sin...

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Posted Under: Income Tax |

No waiver of penalty under Amnesty Scheme for false maintenance of Books and Accounts if there is no tax deficiency

It is relevant to note that penalty under Section 86(15) of the DVAT Act, 2004 (“the DVAT Act”) is leviable for preparation of false, misleading and deceptive books and accounts. A clarification has been issued vide Circular 12/2014-15 dated September 11, 2014 that if tax deficiency arose due to false, maintenance of books and account...

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Posted Under: Income Tax |

Jurisdiction of Service Tax Commissionerates -Notification No. 20/2014

Notification No. 20/2014-Service Tax (16/09/2014)

(a) appoints, Chief Commissioners of Service Tax, Principal Commissioners of Service Tax, Commissioners of Service Tax, Commissioners of Service Tax (Audit), Commissioners of Central Excise (Audit), Commissioners Large Taxpayer Unit, Commissioners Large Taxpayer Unit (Audit), Commissioner of Central Excise (Appeals) and Commissioners of S...

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Department cannot take a stand contrary to instructions of CBEC

Commissioner of Customs, Tuticorin Vs. Sterlite Industries India Ltd. & Others [2014-TIOL-1411-HC-MAD-CUS] In the instant case, the issue was whether demurrage charges and despatch money is required to be included in the assessable value of goods. The Hon’ble Tribunal relied upon a Larger Bench decision in Indian Oil Corporation Vs....

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Posted Under: Income Tax |

Central Excise: Jurisdiction of Chief Commissioners/Commissioners and Commissioners (Appeals)

Notification No. 27/2014–Central Excise (N.T.) [G.S.R.651 (E).] (16/09/2014)

Provided that the jurisdiction of the Principal Commissioner or the Commissioner of Central Excise specified in Table-III(A) or Table-III(B) under whose jurisdiction there is an assessee who has obtained a centralised registration for more than one premises in terms of the notification issued under rule 9 of Central Excise Rules, 2002, sh...

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Amendment in Income Tax Rules Related to Depreciation on Fixed Assets

Notification No. 43/2014-Income Tax (16/09/2014)

Notification No. 43/2014-Income Tax S.O. 2399(E).—In exercise of the powers conferred by Section 295 read with Section 32 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:— 1. (1) These rules may be called the Income-tax (8t...

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SEBI- amendments in clause 49

Stock market regulator, Securities & Exchange Board of India (SEBI) issued a circular dated 15th September, 2014 to introduce certain amendments in revised clause 49 of listing agreement, effective from 1st October, 2014.The gist has been produced hereinbelow:-...

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Posted Under: Income Tax |

Amendments to Appeal provisions in Customs, Central Excise & Service Tax – Clarification

Circular No. 984/08/2014-Central Excise (16/09/2014)

The Finance Act (No.2), 2014 has been enacted on 06.08.2014. Section 35F of the Central Excise Act, 1944 and Section 129E of the Customs Act, 1962 have been substituted with new sections to prescribe mandatory pre-deposit as a percentage of the duty demanded where duty demanded is in dispute or where duty demanded and penalty levied are ...

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