"11 June 2015" Archive - Page 3

VAT Collected on activation of SIM card ordered to transfer to Service Tax Department

Idea Cellular Ltd. Vs. Union of India [(2015) 57 taxmann.com 293 (Punjab & Haryana)]

Where VAT has been collected without authority of law and Service tax demand also has been raised for the same period then the VAT Assessing Authority is liable to transfer amount of VAT to Service Tax Department. Idea Cellular Ltd. Vs. Union of India [(2015) 57 taxmann.com 293 (Punjab & Haryana)]...

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Input Tax credit is available at invoice value even if goods are sold at a price lower than invoice value

Commercial Tax Officer Vs. Jyoti Electronics [(2015) 57 taxmann.com 381 (Rajasthan)]

Jyoti Electronics (the Respondent) purchased certain goods after payment of Input Tax credit. Thereafter, manufacturer of the goods granted trade discount on the goods purchased during the Assessment Year 2008-09 of an amount of Rs.9,60,183/-....

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Goods may be liable for confiscation when value of export goods in invoices is exaggerated

Commissioner of Customs, Lucknow Vs. G.P. Jaiswal [2015 (57) Taxman 295 – SC]

The Hon’ble Supreme Court held that the provisions of Section 113(d) of the Customs Act would get attracted and goods may be liable for confiscation when value of goods in invoices is exaggerated. Commissioner of Customs, Lucknow Vs. G.P. Jaiswal [2015 (57) Taxman 295 – SC]...

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Extended period cannot be invoked, if details of clearance made without payment of duty to 100% EOU were already informed to Department vide CT-3 certificates

Commissioner of Central Excise, Mumbai Vs. Blue Star Ltd. [2015 (57) Taxman 270 – SC]

The Hon’ble Supreme Court held that since CT-3 certificates were filed before the Department, no clearance could have taken place without the knowledge of the officer as to the ultimate destination of the goods and the fact that they were cleared without payment of duty in terms of the exemption notification, which was specified in the ...

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Excess credit reversed by assessee under protest during investigation with no SCN cannot be retained by Department

Commissioner of Central Excise, Pune-II Vs. Finolex Industries Ltd. [2015 (57) Taxman 153 - Mumbai-CESTAT]

Excess credit reversed by assessee under protest in course of investigation, for which no SCN has been issued, cannot be retained by Department -Refund thereof is not hit by bar of unjust enrichment. Commissioner of Central Excise, Pune-II Vs. Finolex Industries Ltd. [2015 (57) Taxman 153 - Mumbai-CESTAT]...

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Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fourth Amendment) Regulations, 2015

Notification No. FEMA. 344/2015 RB (11/06/2015)

Notification No. FEMA. 344/2015 RB sweat equity shares means such equity shares as issued by a company to its directors or employees at a discount or for consideration other than cash, for providing their know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called;”...

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Import freight/ charges incurred prior to import or included in Customs valuation, cannot be charged to Service tax

United Shippers Ltd Vs. Commissioner of Central Excise, Thane-II [2015 (57) Taxman 429 – Mumbai-CESTAT]

Import freight/ charges etc., which are incurred prior to import or which are included in Customs valuation, cannot be charged to Service tax under Cargo Handling or any other service. United Shippers Ltd Vs. Commissioner of Central Excise, Thane-II [2015 (57) Taxman 429 – Mumbai-CESTAT]...

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Assessee cannot avoid responsibility to pay Service tax by contractual arrangement with its contractors

Delhi Transport Corporation Vs. Commissioner Service Tax [2015-TIOL-961-HC-DEL-ST]

Service tax burden can be transferred by contractual arrangement to the other party but, the assessee cannot ask the Revenue to wait for discharge of the liability till it has recovered the amount from its contractors. Delhi Transport Corporation Vs. Commissioner Service Tax [2015-TIOL-961-HC-DEL-ST]...

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Method of computation of value in respect of Input services used for trading prior to 01.04.2011

Synise Technologies Ltd. Vs. Commissioner of Central Excise, Pune [2015-TIOL-1036-CESTAT-MUM]

Method of computation of value U/R 6(3A) of the Credit Rules in respect of Input services used for trading cannot be applied for period prior to April 1,2011 – Value to be calculated on proportionate turnover basis. Synise Technologies Ltd. Vs. Commissioner of Central Excise, Pune [2015-TIOL-1036-CESTAT-MUM]...

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No Condition that Input services must be received within factory premises for availment of Cenvat credit

he Hon’ble High Court of Bombay held that Rule 3 and 4 of the Credit Rules provide that any Input or Capital goods received in the factory or any Input service received by manufacturer of final product would be susceptible to Cenvat credit. ...

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