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Archive: 29 September 2014

Posts in 29 September 2014

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

May 15, 2024 6321 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 19347 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!

Duty paid by one unit should be allowed as Cenvat credit to the another unit

September 29, 2014 2474 Views 0 comment Print

Commissioner of Central Excise, Pune-II Vs. Mishal Zinc Industries Pvt. Ltd. and Indo Deutsh Metallo Chemique Ltd. [2014-TIOL­1 725-CESTAT-MUM] The Respondents are manufacturer of White Zinc Oxide and having two units (a) Mishal Zinc Industries Pvt. Ltd (the Unit 1) and (b) Indo Deutsch Metallo Chimique Ltd (the Unit 2) [the Respondents]. Till August 1998, […]

Amount retained under Sales Tax Incentive Scheme would be part of Assessable Value

September 29, 2014 1890 Views 0 comment Print

The Central Board of Excise and Customs has issued an instruction F. No. 6/8/2014- CX.1 dated September 17, 2014 in terms of the judgment of the Apex Court in case of Super Synotex India Ltd. [2014-TIOL-19-SC­CX] on the issue of abatement of Sales Tax under an abatement scheme where the Assesse has been allowed to […]

Service Tax already deposited cannot be demanded again from a person who has taken over the business

September 29, 2014 1448 Views 0 comment Print

In the instant case, Essar Projects Ltd. (Essar) sold the entire business pertaining to their ‘Construction Division’ to Essar Construction (I) Ltd. (the New Company), w.e.f. June 30, 2006 as per ‘Business Transfer Agreement’. The Department contended that amount received by the New Company on account of the services rendered post June 30, 2006, though the entire Service tax liability pertaining to these services had already been discharged by Essar, the New Company is liable to pay Service tax on same. The Department issued Show Cause Notice to the New Company and the demand was confirmed by the Adjudicating authority.

Service tax on GTA services can be demanded from specified consignor or consignee, who is liable to pay freight

September 29, 2014 3091 Views 0 comment Print

The Hon’ble CESTAT, Ahmedabad, held that as per Rule 2(1)(d)(v) of the Service Tax Rules, if consignor or consignee is one of the specified entities, then person liable to pay Service tax would be person liable to pay freight. Since consignor i.e. EOL was a factory as per Factories Act and a company under Companies Act, GTA service provider i.e., the Appellant was not liable to Service tax.

Service tax Refund cannot be denied on the ground that same was not shown as ‘receivable’ in Balance Sheet

September 29, 2014 2709 Views 0 comment Print

Refund of Service tax on services not provided cannot be denied on ground that same was not shown as ‘receivable’ in Balance Sheet Radico Khaitan Ltd. Vs. Commissioner of Service Tax, Delhi [(2014) 48 taxmann.com 340 (New Delhi – CESTAT)] Radico Khaitan Ltd.   (the Appellant) entered into an agreement with Diageo Radico Distrilleries Pvt. Ltd. […]

Notification No. 94/2014-Customs (N.T.), Dated: 29.09.2014

September 29, 2014 343 Views 0 comment Print

the Additional Commissioner of Customs, (Port-Import), Jawaharlal Nehru Customs House, Nhava Sheva, Taluka- Uran, District- Raigad, Maharashtra-400707;

Penalty u/s 271C cannot be levied where assessee was under bonafide belief that TDS is not deductible

September 29, 2014 10775 Views 0 comment Print

It is clear that the assessee may be under the bonafide belief that TDS is not liable to be deducted on payments made to non-banking financial institution. Section 273B of the Income Tax Act provides that no penalty under section 271C shall be imposable on the person or the assessee as the case may be, for any failure referred to in the said provisions, if he proves that there was reasonable cause for the said failure.

Import of Currency Paper and Security Printing Paper; conditions thereof

September 29, 2014 331 Views 0 comment Print

Import of Water-mark Bank Note Paper may be made, without an import licence, by the Note Printing Presses of the Government of India, namely, Currency Note Press, Nasik; Bank Note Press, Dewas both units of Security Printing and Minting Corporation of India Limited (SPMCIL); Bharatiya Reserve Bank Note Mudran Ltd.(BRBNMPL) units in Mysore, Salboni and Bangalore, subject to submission of a certificate of import from the Head of units and with actual user condition.

Notification No. 93 (RE-2013)/2009-2014, Dated: 29.09.2014

September 29, 2014 1207 Views 0 comment Print

in exercise of powers conferred under Section 3 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, as amended from time to time, the Central Government hereby makes the following amendments in Import Policy of Chapter 10 of ITC (HS) 2012, Schedule 1 (Import Policy).

SEBI modifies Investor Protection Fund (IPF) / Customer Protection Fund (CPF) Guidelines

September 29, 2014 1760 Views 0 comment Print

Based on the representations received from the stock exchanges and recommendations of the Secondary Market Advisory Committee (SMAC), it has been decided to modify certain clauses in the aforesaid guidelines:

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