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Axe Universal Oil is a Ayurvedic product classifiable under Chapter 30

September 9, 2022 2232 Views 0 comment Print

CESTAT held that Axe Brand Universal Oil classifiable under Chapter 30 as it is similar to Amrutanjan, Vicks, Tiger Balm which were held to be classifiable under Chapter 30 by Hon’ble Supreme Court in the case of Amrutanjan Ltd. Vs. Collector of Central Excise – 1995 (77) ELT 500 (SC).

CBIC prescribes export duty on specified Rice products

September 8, 2022 5970 Views 0 comment Print

CBIC amends Second Schedule to the Customs Tariff Act to prescribe export duty on specified Rice products vide Notification No. 49/2022-Customs | Dated:  8th September, 2022 GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 49/2022-Customs | Dated:  8th September, 2022 G.S.R. 689(E) – Whereas, the Central Government is satisfied that […]

Cenvat credit cannot be denied by stating that name of Original Importer is too Technical

September 8, 2022 789 Views 0 comment Print

CESTAT held that denial of credit alleging that invoices mention the name of the original importer is too technical and cannot be accepted.

Whether Losses sustained by 100% EOU can be set off against other business income of assessee?

September 8, 2022 738 Views 0 comment Print

PCIT Vs Sandvik Asia Pvt. Ltd (Bombay High Court) The other issue arises for consideration is whether the losses sustained by hundred per cent EOU could be set off against the other business income of the assessee. This issue, however, is no longer res integra. In Hindustan Lever Ltd. V/s. Dy. CIT This Court observed […]

GST not applicable on consideration received on sale of residential site

September 8, 2022 4158 Views 0 comment Print

In re Rabia Khanum (GST AAR Karnataka) The Applicant is an individual who owns land and planning to convert that land into residential sites and sell them to individuals and the applicant seeks advance ruling whether GST is applicable on sale of these sites. Thus CBIC has clarified that land may be sold either as […]

An activity between only 2 parties cannot be treated as intermediary service

September 8, 2022 1227 Views 0 comment Print

Intermediary arranges or facilitates supplies of goods or services or securities between two or more persons and an activity between only two parties cannot be considered as an intermediary service.

Forum of Regulators (Amendment) Rules, 2022 under Electricity Act

September 8, 2022 1278 Views 0 comment Print

MINISTRY OF POWER NOTIFICATION New Delhi, the 8th September, 2022 G.S.R. 691(E).—In exercise of the powers conferred by sub-section (1) of section 176 read with sub-sections (2) and (3) of section 166 of the Electricity Act, 2003 (36 of 2003), the Central Government hereby makes the following rules, to amend the Forum of Regulators Rules, […]

Creditor can Claim from Successful Resolution Applicant If its Suit Is Decreed

September 8, 2022 975 Views 0 comment Print

If suit of Appellant is decreed, the claim being contingent, Appellant shall be entitled to claim from Successful Resolution Applicant

18% GST payable on construction work contract services to UP Jal Nigam

September 8, 2022 3639 Views 0 comment Print

18% GST payable on non-commercial establishments construction work contract services provided to Uttar Pradesh Jal Nigam

Empanelment of Forensic Auditor for Jammu and Kashmir Bank

September 7, 2022 2163 Views 0 comment Print

Online Request for Quotation (e-RFQ) for Engagement of external Auditors for conducting Forensic Audit of 01 (One) borrower group of the bank covering the period from year 01.01.2002 to 31.03.2013 in Fund Based Working Capital account and Non-Fund Based facilities. The borrower company is having its operations at Jammu & Ludhiana and registered office(s) at Ludhiana, Punjab. […]

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