The days have done when Company Secretaries (CS) was called up on to take minutes and due pure secretarial works. For layman knowledge, a CS means an individual who has qualified as a CS and enrolled as a Member of The Institute of Company Secretaries of India (ICSI).
Tractors having engine capacity less than 1800 CC are not liable to such cess. Appellants are engaged in manufacture of both type of tractors and were using common inputs without maintaining separate accounts for receipt and consumption of these inputs. Invoking the provisions of Rule 6 (3) (b) of Cenvat Credit Rules, 2004 proceedings were initiated against the appellant to recover 10% of value of the exempted tractors.
It was held that in case of clandestine clearance of goods, wherein the Revenue has discharged the burden of corroborating, establishing clandestine clearance of dutiable items from the appellant’s unit and wherein the appellant is merely contesting the duty demand and penalty on the ground that the detailed further investigation regarding raw materials procurement, transport of such raw materials etc.
It was held that the assessee should produce corroborative evidence to establish that the inputs/Capital goods are used in the process of manufacturing and accordingly the CENVAT credit should be allowed.
It was held that for claiming the exemption of excise duty on ayurvedic product, there is no condition that the product to be sold exclusively in the name mentioned in the textbooks. The mention of the house name/ brand-name cannot lead to the conclusion that these products are not sold in the name specified in Ayurvedic text and accordingly exemption is applicable.
It was held that the activity of placing various food items, prepared by the appellants as well as various bought out readymade items, in a tray either at the time of placing the tray in the trolley or at the time of serving the passengers on board does not amount to manufacture of a new commodity as contemplated under section 2 (f) of Central Excise Act, 1944 and accordingly the excise duty cannot be demanded on the total value of manufactured and bought products placed in the tray.
In order to increase the transparency in the dealings between the stock broker and the clients in commodity derivatives market, it has been decided to align the provisions relating to the proprietary trading carried out by the stock brokers of commodity derivatives exchanges in line with the securities market.
Central Government hereby introduces policy conditions on import of dogs under Chapter 01 of ITC (HS), 2012 – Schedule – 1 (Import Policy) as under: (7) Import of dogs is allowed only for the following specific purposes:-
All about 1) Changes in the rate of tax under the Maharashtra Value Added Tax Act (MVAT), 2002 2) Modifications in the Composition Schemes 3) Entry Tax on slabs of marbles and granite in a brief.
Q. What is Equity shares with differential voting Right? A. An Equity Shares with differential rights is an ordinary equity shares but it provides fewer voting rights to its shareholder. The difference in the Voting Rights can be achieved by reducing the degree of voting rights.
