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CBDT condones delay in filing of Form-10 IC

Section 115BAA of Income Tax Act, 1961 was inserted by The Taxation Laws (Amendment) Act, 2019  w.e.f. April 01, 2020. By virtue of aforesaid section, the tax rate for domestic Companies has been reduced to 25.168 percent from the earlier 27.82 percent. As per subsection (5) of section 115BAA of the Act read with Rule 21AE of […...

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Posted Under: Service Tax |

Whether excise duty is payable on mixing of Ethanol with Petrol (under unjust enrichment concept)

Ethanol (primarily a by product from sugarcane and residue of rice and wheat) is mixed with Petrol in the range of 5% to 10% as of now and on world environment day (05.06.2021) PM announced to increase the same to 20% by 2025 for petrol and to mix the same upto 10% in case of […]...

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Posted Under: Excise Duty |

Completion of Investigation not a Condition Precedent for Eligibility under SVLDR Scheme 2019

M/s. UCN Cable Network (P) Ltd. Vs. Designated Committee under SVLDR Scheme, 2019 (Bombay High Court, Nagpur)

M/s. UCN Cable Network (P) Ltd. Vs. Designated Committee under SVLDR Scheme, 2019 (Bombay High Court, Nagpur) Completion Of Investigation Not a Condition Precedent For Eligibility Under ‘Sabka Vishwas’ (Legacy Dispute Resolution) Scheme 2019 The Hon’ble Bombay High Court while quashing the Designated Committee’s decision of reject...

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Changes in Excise Duty vide Budget 2022- Detailed Analysis

Memorandum Explaining the Provisions in Finance Bill, 2022 (Budget 2022-23) related to Amendments In The Fourth Schedule, Change In Effective Rate Of Additional Basic Excise Duty On Unblended Petrol And Diesel, Amendments In The Schedule VII Of The Finance Act, 2001 (NCCD SCHEDULE) an d other Changes [Including Certain Clarifications/Tech...

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Taking credit and then reversing the same entry is as good as not taking the credit at all

CESTAT held that in a case where the assessee is a manufacturer of dutiable goods as well as exempted goods and it is impractical to maintain separate accounts of common inputs used in manufacture of dutiable goods and exempted goods the only practical way of maintaining accounts is by corresponding credit and debit entries, reversing pro...

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Posted Under: Excise Duty |

Demand cannot be confirmed by relying on third-party evidence not cross-examined

CESTAT held that the department cannot confirm a demand solely on the basis of third-party evidence without any opportunity being afforded to the manufacturer to cross-examine such evidence....

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Posted Under: Excise Duty |

Application of Principal User Test is important to classify Relays under Railways Signaling Equipment

Current appeal has been filed discussing the taxability of 'Relays', which is used as a part of Railway Signalling System. Westinghouse Saxby Farmer Ltd (Appellant) has come in the Court aggrieved by the dismissal of appeal challenging the same by the Hon’ble CESTAT, Kolkata vide order dated March 26, 2008....

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Posted Under: Excise Duty |

Company entitled to refund of Cenvat credit lying in Cenvat credit account on closure of business

Nichiplast India Pvt. Ltd. v. Principal Commissioner CGST (CESTAT Delhi)

Appellant is entitled to refund of the amount of Cenvat Credit lying in their Cenvat Credit account on closure of business along with interest....

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Benefit of abatement can’t be withheld on failure on part of Superintendent to make proper recordings

Tripura High Court held that abatement of duty can’t be withheld solely on ground that Superintendent did not record that sealing was done in such a manner that machine could not be operated as it was not within the control of the Appellant in what manner the Superintendent passed an order after sealing the machine....

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Posted Under: Excise Duty |

Procedural delay in credit reversal not disentitles assessee from claiming refund

Chariot International Pvt. Ltd. Vs Commissioner of Central Tax (CESTAT Bengalore)

CESTAT set aside the order passed by the Commissioner (Appeals) disallowing the refund claims of the assessee on the ground that credit reversal in Form GSTR-3B pertains to GST credit and not CENVAT credit. Held that, procedural delay will not disentitle the assessee from claiming refund when credit had been reversed in Form GSTR-3B....

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