Tiger Steel Engineering India Pvt. Ltd. („the assessee?) is registered with Central Excise Department for the manufacture of pre-fabricated steel buildings, falling under Chapter 94 of Central Excise Tariff Act, 1985. The assessee also avails of the CENVAT credit facility under CENVAT Credit Rules, 2004 („CENVAT Rules?). From 1 January 2007 to 30 June 2008, the assessee cleared its finished goods, namely, pre-fabricated building without payment of Central Excise duty to a unit located in Special Economic Zone („SEZ?) under a letter of undertaking. These goods so cleared to SEZ without payment of duty were regarded as exports and accordingly, the assessee filed six refund claims in respect of the unutilized CENVAT credit under Rule 5 of the CENVAT Rules. The refund claims filed by the assessee were rejected by the Original Adjudicating authority and on appeal to the Commissioner (Appeals), the order of the Adjudicating authority was set aside by concluding that the supplies to SEZ units amount to exports for the purpose of Rule 5 of CENVAT Rules. The Department has filed the present appeal against the said order to the Customs Excise & Service Tax Appellate Tribunal („CESTAT?).
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Cus (N. T.), dated, the 3rd August 2001, namely: –
The Honourable Punjab and Haryana High court has held in an important decision in the case of State of Punjab & others. Vs. M/s Malwa Cotton & Spinning Mills Ltd. (decided on 24/08/2010) reversing the decision of the Punjab VAT Tribunal that no input tax credit will be available on the purchase of Diesel used in generation of electric power for captive use in the factory under clause (i) of section 13(5).
Members of the Co-operative Housing Societies – please note – your entire exercise of redevelopment efforts will come to a naught, if your office bearers are not elected as per the provisions of Byelaws and the committee is lawfully formed. This incl
With the real estate prices touching a new high, residents in old buildings are now discovering that they have an opportunity to unlock immense value from their property by offering it to a builder/developer for redevelopment.
It is also confirmed that the appointed director (s) whose particulars are given above, has given a declaration to the company that he/she has not been declared as proclaimed offender by any Economic Offence Court or Judicial Magistrate Court or High Court or any other Court.
I am directed to invite attention to the Board circular No.43/2007-Cus dated 5th December, 2007 which clarified that the Specified Officer posted in an SEZ is the appropriate authority for granting drawback in respect of goods supplied from DTA units to Developers and units in SEZ except where the unit or Developer issues a disclaimer to the DTA
At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement. For this purpose, the listed companies shall obtain a certificate from its Registrar and Transfer Agent.
Banks are hereby advised to put in place appropriate systems and procedures to ensure compliance with the above prescriptions. The guidelines are issued under the powers vested with Reserve Bank of India under Section 10(2) of the Payment & Settlement Systems Act, 2007 and would come into effect from January 1, 2011. The instructions would be reviewed and suitable changes will be effected, if necessary, based on operational experience and general feedback.
In continuation of our letter DBOD.No.FID.FIC.5 /01.02.00/2008-09 dated February 26, 2009 on the captioned subject, please find enclosed Circular DBOD No.BP.No. 49/ 21.04.132/2010-11 dated October 7, 2010 on `Prudential Guidelines on Restructuring of Advances by Banks’ issued to scheduled commercial banks. In this connection, it is advised that these guidelines, shall apply mutatis mutandis to the select All-India Financial Institutions (AIFIs).
