The Hon’ble CESTAT, New Delhi relying upon the judgment of Hon’ble Gujarat High Court in the case of CCE, Vadodara-II Vs. Indeos ABS Ltd. [2010 (254) ELT 628 (Guj.)], which was further upheld by Hon’ble Supreme Court in [2011 (3) TMI 1575 – SUPREME COURT]
The Hon’ble Supreme Court held that no such writ petition to claim refund of duty, interest and penalty was maintainable when the proceedings in respect of the Respondent had attained finality and the amount was recovered.
Transaction value of identical goods can be taken as assessable value of imported goods in terms of Rule 4 of the Customs Valuation Rules only after making an adjustment of commercial and comparable effects- Richemont India Pvt. Ltd. Vs. CC, New Delhi [2015 (12) TMI 1043 (NEW DELHI – CESTAT)]
Hon’ble CESTAT, Chennai held that the charges of technical knowhow cannot be included in the value of imported goods in terms of Rule 9 of the Customs Valuation Rules where these expenses aren’t condition to sale of the imported goods.
The Hon’ble High Court of Bombay held that the Hon’ble Apex Court has emphasized time and again that the Orders pursuant to a Personal Hearing either by the Court or the Tribunal or any quasi-judicial body ought to be passed expeditiously and within a reasonable time.
Nagarjuna Construction Co. Ltd. was engaged in the business of Works contracts such as construction of bridges, flyovers, roads and multi-storied buildings across the India. Being a Works contractor, the Petitioner applied for registration under the CST Act and also claimed CST registration in respect of machinery, tools and equipment such as hydraulic mobile cranes,
Watch the video to enrich your knowledge regarding the present status and updates on GST. With the intention of throwing light on areas to be worked upon for the GST Laws – CGST, SGST and IGST, this presentation made by CA Bimal Jain on GST – Overview, RNR, Open Issues by CA Bimal Jain at the International Indirect Tax & GST Conference organised by the PHD Chambers of Commerce on December 17, 2015, focuses on following various suggestions/ issues.
The Government, on Monday, December 21, 2015, introduced the Insolvency and Bankruptcy Bill, 2015 (the Bankruptcy Bill), proposing to enact a single bankruptcy code setting deadlines for processing insolvency cases. Once enacted, not only will it improve the ease of doing business in India, it will also ensure better debt recovery for creditors.
Penalty is levied only when any Service tax has not been paid by reason of fraud, etc., hence, when assessee’s activity is held to be not liable to Service tax, question of imposition of penalty cannot arise- Jubilant Agri & Consumer Products Ltd. Vs. Customs, Excise & Service Tax Appellate Tribunal [2015 (64) taxmann.com 35 (Allahabad)]
GST has been missing several deadlines in the past. Perhaps, the only major reform both India and the World were looking at from the Parliament’s winter session was the passage of the 122ndConstitutional Amendment Bill, 2014 (122nd CAB or GST Bill), which promised to bring in the biggest indirect tax reform in the Country ever happened.
