"05 November 2019" Archive

RBI enhances withdrawal limit for depositors of PMC Bank to ₹ 50000

Press Release: 2019-2020/1110 05/11/2019

Reserve Bank of India, after reviewing the Punjab and Maharashtra Cooperative Bank Limited's  liquidity position and its ability to pay its depositors has decided to further enhance the limit for withdrawal to ₹ 50,000/- (Rupees Fifty Thousand only), inclusive of ₹ 40,000 allowed earlier....

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CBIC mandates quoting of DIN in all communications from 08.11.2019

Circular No. 122/41/2019-GST 05/11/2019

CBIC directs that no search authorization, summons, arrest memo, inspection notices and letters issued in the course of any enquiry shall be issued by any officer under the Board to a taxpayer or any other person, on or after the 8th day of November, 2019...

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Late fee for delay in filing Bill of Entry not imposable if importer takes all efforts to clear goods within reasonable time

M/s. ECOM Gill Coffee Trading Pvt. Ltd. Vs Commissioner of Customs (CESTAT Chennai)

CESTAT Chennai has held that late fee imposed on the appellant for delay in filing of Bill of Entry was not proper, since the delay had occurred only because the original importer had failed to clear the goods....

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DFIA benefit available even if specific import product name not mentioned in licence

M/s Pace Ventures Pvt. Ltd Vs C.C.-Ahmedabad (CESTAT Ahmedabad)

Observing that there was no doubt that the green cardamom was used in making biscuits and pickles as flavouring agent and food additives, respectively, CESTAT Ahmedabad has rejected the department’s plea that since specific name of the product was not mentioned or ITC (HS) did not match in the DFIA licence, benefit thereunder was not av...

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Ship demurrage charges not includible in assessable value

M/s Jubilant Life Science Limited Vs Additional Director General (Adj) (CESTAT Delhi)

M/s Jubilant Life Science Limited Vs Additional Director General (Adj) (CESTAT Delhi) Following the decision of the High Court of Orissa in the case of Tata Steel v. Union of India & Ors. [W.P. (C) No. 7917 of 2009],wherein the Explanation to Rule 10(2) of the Customs Valuation (Determination of Value of Imported Goods) Rules, [&helli...

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Refund available even in absence of payment challan

Deep Exports Vs  Commissioner of Customs (CESTAT Ahmedabad)

claim of refund was denied on the ground that the duty payment challans were not been produced. CESTAT Ahmedabad however observed that the amount had been deposited, received by the department through banker’s cheque and had also been realized, and that no challan was  taken by the assessee. It was held that even in the absence of chal...

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Withdrawal of exemption from duty/tax – Principle of promissory estoppel not invokable if public interest so warrants

Union of India Vs Unicorn Industries (Supreme Court of India)

Union of India Vs Unicorn Industries (Supreme Court) 3 Judge Bench of Supreme Court has held that the inapplicability of doctrine of promissory estoppel is established when the larger public interest demands so. Observing that pan masala (with or without tobacco) was found to be one of the causes of oral cancer, the Court was […]...

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Confiscation of conveyance & goods – Hearing / passing of speaking order mandatory

Sitaram Roadways Vs State of Gujarat (Gujarat High Court)

Sitaram Roadways Vs State of Gujarat (Gujarat High Court) Observing that principles of natural justice were violated by the adjudicating authority, the Gujarat High Court has set aside the order of confiscation of conveyance and goods, earlier found to be not in possession of mandatory documents. The Court noted that petitioner was not af...

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HC allows transitional credit of EC / SHEC / KKC under GST

Sutherland Global Services Private Limited Vs Assistant Commissioner CGST and Central Excise (Madras High Court)

Revenue has not made out any bar for the transitioning of EC, SHEC and KKC into the GST regime and the petitioner satisfies all conditions both under sub-section (1) and (8) of section 140. The embargo placed by Rule 3(7)(b) is long gone with the introduction of GST. Certainly the powers-that-be are conscious of these factors in drafting ...

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HC allows revision of claim of Transitional Credit (Form TRAN-1)

Adfert Technologies Pvt. Ltd. Vs Union of India & Ors. (Punjab & Haryana High Court)

GST dept to permit the Assessee to file or revise where already filed incorrect TRAN-1 either electronically or manually statutory Form(s) TRAN-1 on or before 30th November 2019. The Respondents are at liberty to verify genuineness of claim of Petitioners but nobody shall be denied to carry forward legitimate claim of CENVAT/ITC on the gr...

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