Supermax Personal Care Pvt. Ltd. Vs Union of India (Bombay High Court) In the order in original dated 20.11.2019 the adjudicating authority had recorded a clear finding that the only presumption for the demand was that because the maximum retail price of the goods manufactured at Una, Himachal Pradesh and those manufactured elsewhere by the […]
Discover the implications of Section 1(2) of the Customs Act, 1962 in the case of Seville Products Ltd. vs Commissioner of Customs, Ludhiana. Uncover why the CESTAT Chandigarh sets aside the penalty imposed on an appellant located outside India.
Jayamma Xavier Vs Registrar of Firms (Kerala High Court) Section 4 of the Partnership Act permits Constitution of a firm or partnership between one or more persons. In this case the partnership deed was executed between an individual and an LLP which is a body corporate having a legal entity and coming within the definition […]
Venkatesh Soutoor Tirupati Vs ITO (ITAT Hyderabad) As regards the cash withdrawals and the marriage gifts from others and gift from his brother as sources for the balance of cash deposit is concerned, I find that the Assessing Officer has held the ATM withdrawals and also 2/3rd of the gifts at the time of marriage […]
In re Girish Rathod (GST AAAR Gujarat) We find that CBEC Circular No. 433/66/98-CX-6 dated 27/11/1998 is relevant even today and has got persuasive value as on date. Further, Chapter Note 2(a)(4) to Chapter 59 says that fabrics partially coated or partially covered with plastics and bearing designs resulting from these treatments are excluded from […]
The imported plastic item namely Plastic Mechanical Liquid Dispenser shall be classified under Chapter sub-heading 3923.50 of the Customs Tariff Act, 1975 (51 of 1975). The said product is liable to GST at the rate of 18% (9% CGST + 9% SGST)?
Baldeep Singh Vs Commissioner of Customs (CESTAT Delhi) In the present case inspite of opportunity given, Revenue failed to produce the proof of delivery of the show cause notice. Further, from perusal of the order-in-original, I find that the Adjudicating Authority have not recorded satisfaction of service of show cause notice and have proceeded to […]
Reserve Bank of India Date : Apr 07, 2021 Statement on Developmental and Regulatory Policies This Statement sets out various developmental and regulatory policy measures on (i) liquidity management and support to targeted sectors; (ii) regulation and supervision; (iii) debt management; (iv) payment and settlement systems; (v) financial Inclusion; and (vi) external commercial borrowings. I. Liquidity […]
International Tractors Ltd. Vs DCIT (Delhi High Court) Unless the Tribunal would have reached to a conclusion and expressed its clear view, in that respect, as to what was wrong or missing in the examination made by the CIT(A), a remand was not called for. We agree with Mr. Seth’s contention that the CIT(A) in […]
In the Union Budget 2021-22, presented on 1st February 2020, the Finance Minister announced an outlay of INR 1.97 Lakh Crores for the Production-Linked Incentive (PLI) Schemes for 13 key sectors, to create national manufacturing champions and generate employment opportunities for the country’s youth. This means that minimum production in India as a result of PLI Schemes is expected to be over US$ 500 billion in 5 years.
