"December, 2014" Archive - Page 3

Royalty paid on sale value of manufactured goods is not required to be loaded on invoice price of imported raw material

Ortiker India P. Ltd. Vs. Commissioner of Customs (I)

Ortiker India P. Ltd. (the Appellant or the Company) imported clamps from the related supplier outside India. The transactions were examined on arms length basis and the SVB branch vide order dated February 6, 2009 held that the transaction value has not been influenced...

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Posted Under: Custom Duty |

Guidelines for processing of Online IEC Applications

Policy Circular No.15 (RE-2013)/2009-2014 31/12/2014

From 1.1.2015, all applications for IEC would be made in online mode only. All applicants will have to fill IEC application and also upload all required documents online. All IEC Certificates would also be issued by the concerned RA (with his digital signature) in digital format only. The applicant can take a print out of the digitally si...

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Revised Guidelines for Issue / Modification of IEC Number

Public Notice. 79/(RE-2013)/2009-2014 31/12/2014

Amendments in Detailed Guidelines for Issue / Modification of Importer Exporter Code Number (IEC) as notified vide Public Notice No. 76 dated the 27th of November, 2014 and Para 9.1 of Handbook of Procedure vol.1 (2009-14)....

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Exit order in respect of Ludhiana Stock Exchange Ltd

Press Release No. 185/2014-SEBI 31/12/2014

Further, the Income Tax Authorities, Ministry of Corporate Affairs and the State Government of Punjab are being intimated about the exit of LSE, for appropriate action at their end....

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An overview of Anti Money Laundering Laws – Free e-book

I have prepared a small write up on The Prevention of Money Laundering Act, 2002. The write up aims at presenting a simple understanding of the source, handling and prevention of money laundering. Growing money laundering crimes is a threat to both the individual and economy and the real point lies in curtailing its source and happening. ...

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Introduction of 24×7 Customs clearance facility at Specified Sea Ports and Air Cargo Complexes

Circular No. 19/2014-Customs 31/12/2014

CBDT vide Circular No. 19/2014-Customs dated December 31, 2014 has introduced at 18 Sea Ports, the facility of 24x7 Customs clearance for specified imports i.e. goods covered by ‘facilitated’ Bills of Entry and specified export i.e. factory stuffed containers and goods exported under free Shipping Bills, effective from December 31, 20...

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Sale of used cars not subject to VAT under Delhi VAT

Anand Decors and Others Vs. Commissioner of Trade And Taxes (Delhi High Court)

Anand Decors and Others (the Appellants) were manufacturing certain commodities and were registered dealers under the Delhi Value Added Tax Act, 2004 (DVAT Act).The Appellants purchased motor vehicles/cars,paid Sales tax/ VAT but did not avail input tax credit thereon under DVAT Act....

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Notification No. 04/2014-Customs (SG) Dated: 31.12.2014

Notification No. 04/2014-Customs (SG) 31/12/2014

In exercise of the powers conferred by sub-section (1) of section 8B of the Customs Tariff Act, read with rules 12, 14 and 17 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, the Central Government after considering the aforesaid findings of the Director General (Safeguards), hereby imposes on Sodium Ci...

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Battery charger is not a part of mobile phone but an accessory thereof – SC

State of Punjab Vs. Nokia India (P.) Ltd

Nokia India Pvt. Ltd. (the Assessee) is a dealer registered under the Punjab Value Added Tax Act, 2005 (the Punjab VAT) engaged in selling mobile phones along with battery chargers and charges VAT at concessional rate of 4% on the sale value of battery chargers....

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Posted Under: Custom Duty |

2 Years Imprisonment to Then Inspector of Central Excise in a bribery case

Special Judge for CBI Cases, Ernakulam has convicted Shri Ajay Pratap Singh, then Inspector, Central Excise Tax Division, Kathrikadavu, Cochin U/s 7 & Section 13(2) r/w 13(1)(d) of PC Act, 1988 and sentenced him to undergo two years Rigorous Imprisonment with fine of Rs.25,000/- in a bribery case....

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Posted Under: Custom Duty |

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