"January, 2015" Archive - Page 3

On mere pendency of proceedings before Higher Authority, Department cannot deny refund

National Leather Cloth Mfg. Co. Vs. The Union of India

National Leather Cloth Mfg. Co. (the Petitioner) was engaged in the manufacture of Excisable goods falling under Chapter 39, 56 and 59 of the First Schedule to the Central Excise Tariff Act, 1985. During the period January 1995 to March 1997, the Petitioner had utilized the Cenvat credit ...

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Posted Under: Excise Duty |

Cenvat credit on Input services to jobworker clearing intermediate goods

JBF Industries Vs. Commissioner of Central Excise & Service Tax

JBF Industries (the Appellant) was engaged in the manufacture of Polyester Chips, Lump Waste, and Polymer Waste falling under Chapter 39 of the Central Excise Tariff Act, 1985 and was availing Cenvat Credit on Inputs, Capital goods and Input services in terms of the Cenvat Credit Rules...

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Posted Under: Excise Duty |

Cenvat credit cannot be denied by holding that activity is not 'manufacture' when Department accepted Excise duty on final products

Foam Techniques MFG (I) Pvt. Ltd. Vs. CCE

he Appellant was engaged in the business of manufacture of P.U. foam sheets and availing the benefit of Cenvat credit. The Appellant had procured blocks of P.U. foam covered under Chapter Heading No. 3920 or 3921 and cut them into different sizes &shapes and the final product P.U. ...

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Posted Under: Excise Duty |

CBEC to curb practice of its officers of issuing Excise/ST summons in casual manner

The Central Board of Excise and Customs (the Board) vide Instruction F. No. 207/07/2014-CX-6 dated January 20, 2015 has issued an instruction in respect of issuance of summons in the Central Excise and Service tax matters wherein summons have been issued to the officials of the companies to enforce recovery of dues, which are under disput...

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Posted Under: Excise Duty |

Where Stay application against Order sanctioning refund claim has been rejected, there is no reason for Revenue to stop refund

Madura Coats (P.) Ltd.Vs. Union of India

During the period from September 10, 2004 to December 31, 2004, Madura Coats (P) Ltd. (the Petitioner) received certain services from abroad and paid Service tax thereon under reverse charge on January 25, 2005 on insistence of the Department....

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Posted Under: Excise Duty |

Issue of Service Tax on Renting of Immovable property still not attained finality – Penalty Waived

Shri Mahesh Vaktawarmal Rathod Vs. Commissioner Of Central Excise

Shri Mahesh Vaktawarmal Rathod (the Appellant) rented out their premises to M/s Loot India Pvt. Ltd. Renting of immovable property was brought under the Service tax net under erstwhile Section 65(105)(zzzz) of the Finance Act, 1994 (the Finance Act) w.e.f. June 1, 2007....

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Posted Under: Excise Duty |

Procedure to be followed in Re-Export of Imported Goods U/s. 69 of Customs Act, 1962-Reg

Public Notice No. 09/2015-customs Duty (29/01/2015)

The trade has represented that in the case of export of warehoused goods under Section 69 of the Customs Act, 1962, whenever there is involvement of two Custom Houses, lengthy procedures are being followed and it entails lengthy procedures of documentation ...

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Companies Act 2013- Financial Statements & Consolidated Financial Statements

Section 129 of the Companies Act, 2013 lays down that the financial statements shall give a true and fair view of the state of affairs of the Company or Companies comply with the Accounting Standards and the format of those financial statements shall be as per Schedule III of CA, 2013....

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Posted Under: Excise Duty |

Declaration of Beneficial Interest under Companies Act, 2013

Section 89 of the Companies Act, 2013 and Chapter VII of The Companies (Management and Administration) Rules, 2014 covers the concept of declaration of beneficial interest in any shares (Including Preference Shares)....

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Posted Under: Excise Duty |

All about form 15CA & Form 15CB

What stand customer can take if Bank demand Form 15CA but service is not taxable? In such cases, the possible recourse is to submit a declaration in form of a note to Bank stating the nature of remittance and reason as to why it is not chargeable to tax and consequently exempted from the submission of Form 15CA. ...

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Posted Under: Excise Duty |