"15 October 2014" Archive

Cenvat credit allowable of duty paid on raw material used for research and development activities within the 100% EOU

Serum Institute of India Ltd Vs. Commissioner of Central Excise, Pune-III [2014-TIOL-1887-CESTA T-MUM] Serum Institute of India Ltd. (“the Assessee”) is 100% EOU engaged in the manufacture of vaccine (human medicine) falling under Chapter Heading 30.02 of the Central Excise Tariff Act, 1985. The Assessee imported raw material without ...

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Posted Under: Excise Duty |

No penalty if there is mass unawareness about taxability of certain service

We are sharing with you an important judgment of the Hon’ble Allahabad High Court in the case of H.M. Singh & Co. Vs. Commissioner of Central Excise, Customs & Service Tax [2014 (49) taxmann.com 417(Allahabad)] on the following issue: Issue: Whether penalty could be levied under Section 77 and 78 of the Finance Act, 1994 [&helli...

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Posted Under: Excise Duty |

Registration under MVAT Act, 2002

INTRODUCTION OF MVAT ACT, 2002 ¨The Maharashtra Value Added Tax 2002 (Herein after called as MVAT Act) has replaced the Bombay Sales Tax Act, 1959 on & w. e. f. 1st April 2005 and now the sales tax is collected by the Maharashtra Government under MVAT Act, 2002. Up to 31st March 2005 the sales […]...

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Posted Under: Excise Duty |

Constitution of Review Committee of Chief Commissioners of Central Excise

Office Order-2/2014-Central Exicse (15/10/2014)

In exercise of the powers conferred by sub-section (1B) of section 35B of the Central Excise Act, 1944 (1 of 1944), the Central Board of Excise and Customs, constituted under the Central Board of Revenues Act, 1963 (54 of 1963), constitutes the following Committees consisting of two Chief Commissioners of Central Excise mentioned in colum...

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Amendment of Notification No. 27/2014 – Central Excise (NT) dated 16.09.2014

Notification No. 31/2014-Central Excise (N.T.) [G.S.R. 730(E)] (15/10/2014)

In exercise of the powers conferred by rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 27/2014-Central Excise (N.T.), dated the 16th September, 2014, published in the...

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Practical Approach to Interpretation of Schedule Entries Under MVAT Act

Agenda Provisions related to Schedule, Notifications and DDQ . General contents of Schedules and Important Notifications. Theories of interpretation of Schedule Entries. How to read and interpret Schedule Entry. Provisions regarding Schedule Entry / Notifications...

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Posted Under: Excise Duty |

Export warehousing –Extension of facility at Bhuj Taluka in Kutch District in the state of Gujarat – regarding

Circular No. 987/11/2014-CX (15/10/2014)

I am directed to refer to Board’s Circular No. 581/18/2001-CX dated 29th June, 2001 which, inter-alia, specifies conditions, procedures, class of exporters and places under sub-rule (2) of rule 20 of Central Excise Rules, 2002 for warehousing of excisable goods for the purpose of export. In paragraph 2(2) of the said Circular, the Boar...

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Omission of notice u/s 143(2) of the Act is not merely a procedural irregularity

ITO Vs Shri Bhuvanesh Maheshwari (ITAT Jodhpur)

Facts of the case in brief are that the assessee filed his return of income belatedly on 26/03/2010 showing taxable income of Rs. 6,03,414/-, which was processed under section 143(1) of the I.T. Act, 1961 (hereinafter referred to as Act, for short on 05/04/2010....

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Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

Notification No. 97/2014-Customs (N.T.) (15/10/2014)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the ...

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Justice A. N. Jindal to be next Chairman of Punjab VAT Tribunal- Long wait is over

Justice AN Jindal (retd), who had given a clean chit to Shiromani Akali Dal minister Sikandar Singh Maluka in the alleged multi-crore scam of government school books, is set to become the chairman of Punjab Value Added Tax (VAT) Tribunal. Apart from the 63-year-old justice Jindal, justices SP Bangarh, Rakesh Kumar Garg, LN Mittal and [&he...

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Posted Under: Excise Duty |