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In the case of M/s Galaxy Indo Fab. Limited Vs. Union of India and others since the appeal could not be decided within a period of 180 days, the M/s Galaxy Indo Fab. Limited (petitioner) moved a miscellaneous application for extension of the stay order. The Tribunal vide order dated 14.8.2008 extended the stay order, already granted, til...

Outright exemption from special additional duty provided to goods imported in a pre-packaged form for retail sale. This would also cover mobile phones, watches and ready-made garments even when they are not imported in pre-packaged form. The refund-based exemption is also being retained for cases not covered by the new dispensation. ...

Project import status at a concessional customs duty of 5 per cent with full exemption from service tax to the initial setting up and expansion of Cold storage, cold room including farm pre-coolers for preservation or storage of agriculture and related sectors produce; and Processing units for such produce;...

The Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, provides relief measures to promote clean environment. Clean energy cess on coal produced in India as well as on the imported, will be levied at a rate of Rs. 50 per tonne. The measure is aimed at building the corpus of the National Cl...

In the Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, the rate reduction in Central Excise duties has been partially rolled back and the standard rate on all non-petroleum products enhanced from 8 per cent to 10 per cent ad valorem....

Government proposes to come out with standard input and output norms for service tax and excise Official sources said such norms form the benchmark of costing, which helps in working out the price of inputs required for manufacturing or producing a certain quantity of output. This is important, since most business entities or companies cl...

“At the outset, let me congratulate the 33 officers, who have been selected for the Presidential Certificate of Appreciation for the year, 2009. An award such as this recognizes the exceptional diligence, dedication, and abiding faith of officers in their service to the nation....

Electronic payment of duty has been made mandatory for assessees whose total duty payment including utilization of CENVAT credit for the preceding financial year is Rs. 10 lakh or more as against the existing threshold of Rs. 50 lakh or more without considering the payment by utilizing CENVAT credit....

The Central Board of Excise and Customs (CBEC) has directed its field formations to expedite “non-duty-related measures” for augmenting revenue. To this effect, CBEC members held meetings last week. Officials said the priority was revenue maximisation to take care of the fiscal deficit. While duty cuts have dampened indirect tax colle...

THE CVC had disposed off 468 cases during December 2009 referred to it for advice. The Commission advised initiations of major penalty proceedings against 70 officers. Of these, 20 were from public sector banks, 17 from M/o Railways, 11 from Northern Coalfields Ltd., 4 from Western Coalfields Ltd., 3 from MCD, 2 each from Ministry of Home...