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Archive: November, 2015

Posts in November, 2015

Delhi VAT- Regarding Tax on cigarettes and amendment in Form DVAT 16

November 12, 2015 1561 Views 0 comment Print

Amendment of rule 7- For the purposes of sub-section (10) of section 9 and sub-section (3) of section 10, in case of cigarettes (irrespective of form and length), the tax credit shall be reduced by {(R-2) I00/R} percents, where R is the rate of tax applicable as per section 4.

Extension of Tenure of High Level Committee to interact with Trade & Industry on Tax Laws

November 12, 2015 499 Views 0 comment Print

In his Budget Speech 2014¬-15, the Union Finance Minister Shri Arun Jaitley had announced the setting-up of a High Level Committee (HLC) to interact with trade and industry and ascertain areas where clarity on tax laws is required. Accordingly, a High Level Committee (HLC) was constituted with the approval of the Finance Minister on 26th November, 2014 to interact with trade and industry on tax laws,

Procedure for Filing Appeals, Curing Defective Appeals & Effective Representation by revenue in HC

November 12, 2015 6249 Views 0 comment Print

In the case of National Petroleum Construction Company Vs. DIT in ITA Nos. 143, 144, 533/2013 and 795/2014, Hon’ble Delhi High Court in its order dt. 13.08.2015, dt. 20.08.2015 and 28.09.2015 has directed the Income Tax Department to formulate and implement a standard operating procedure on the following three issues:

Delhi VAT- Forms EC-II and EC-III due date extended to 30/11/2015

November 12, 2015 1289 Views 0 comment Print

No.F.3(315)/Policy/VAT/2015/ 1003-1014 Dated:12/11/2015 Extend the last date for filing of online returns for the 1st and 2nd quarter of the year 2015-16, in Forms EC-II and EC-III to 30/11/2015.

Principal manufacturer eligible to take credit of duty so paid by job-worker

November 11, 2015 2061 Views 0 comment Print

High Court held that credit of duty paid by job-worker can be availed by the principal manufacturer, even if job-worker forgoes exemption and pay duty on semi-processed goods returned to the principal-manufacturer.

Prices charged by job-worker cannot be regarded as understated where principal manufacturer has given loan to job-worker

November 11, 2015 645 Views 0 comment Print

Supreme Court held that the advance of Rs. 4.5 Crores was given by Nestle to the Respondent for purchase of machinery and it was only a loan transaction independent of the trading relationship between the parties

Cenvat credit can be availed by manufacturer on strength of invoices issued by supplier of inputs showing manufacturer's name as consignee and name of dealer as buyer

November 11, 2015 2528 Views 0 comment Print

The Hon’ble CESTAT, Mumbai held that invoices, on the basis of which Cenvat credit was availed was issued by manufacturer-supplier and the Appellant’s name is clearly appearing as consignee, therefore the invoices in question are squarely covered by clause (a) of sub rule 1 of Rule 9 of the Credit Rules.

Provision of reversal of Cenvat credit under Rule 6 of Credit Rules not applicable on export of exempted goods under bond

November 11, 2015 2746 Views 0 comment Print

The Hon’ble CESTAT Mumbai held that since the exempted goods were brought back into the factory after testing and subsequently, exported under Bond, therefore, by virtue of Rule 6(6)(v) of the Credit Rules, the provisions of sub-rule (i), (ii), (iii) & (iv) of Rule 6 are inapplicable.

Customs Dept need not go deep into matter and by hair-splitting and semantic niceties deny benefit of Exemption Notification: SC

November 11, 2015 762 Views 0 comment Print

That at the time of import, the required Certificate was not produced is not a very strong ground for denying the benefit of Exemption Notification; There is a plethora of decisions in which various Courts and Tribunals have accepted the production of Certificate even after the importation for granting benefits;

'Flipkart' facilitating sale and purchase of goods through online portals is Not liable for VAT

November 11, 2015 3395 Views 0 comment Print

Online service providers like ‘Flipkart’ facilitating sale and purchase of goods through online portals cannot be considered as dealer of goods – Not liable for VAT. Flipkart Internet (P.) Ltd. Vs. State of Kerala [(2015) 62 taxmann.com 387 (Kerala)]

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