Goods and Services Tax : Discover the GST place of supply for custodial services provided by Indian banks to Foreign Portfolio Investors (FPIs), clarified ...
Custom Duty : AEO is a Trade Facilitation Scheme for ease of doing business in light of international development. Holder of this Certificate is...
Service Tax : The point (s) of dispute pertains to levy of ‘service tax’ in respect of a transaction of sale and purchase of Flat in a build...
Custom Duty : Rajiv Gupta The moot question is what the worth of the laws in this country is! Are they even worth the paper on which they are pr...
Excise Duty : Central Board of Excise and Customs has issued circular No.1063/2/2018-CX dated 16.02.2018, wherein this compiles sixty three orde...
Goods and Services Tax : Shri S. Ramesh takes over as Chairman, Central Board of Indirect Taxes and Customs Shri S. Ramesh, IRS(C&CE:1981) has taken ov...
Custom Duty : With the enactment of the Finance Act, 2018, CBEC is renamed as the Central Board of Indirect Taxes and Customs (CBIC). The change...
Custom Duty : The Special Judge, CBI cases, Chennai has sentenced Shri D.Ramani, then Appraiser, Air Customs Department, Chennai to undergo two ...
Goods and Services Tax : Article explains Process flow and steps involved for Updating Mobile Number & Email of Authorized Signatory on GST portal www.gst...
Custom Duty : Government has decided to impose 30% import duty on Chana (Chickpeas) and Masoor (Lentils), with immediate effect.Production of Ch...
Service Tax : CESTAT Bangalore held that that service tax on commission paid to foreign commission agents is payable under reverse charge only ...
Custom Duty : CESTAT Ahmedabad held that waste and scrap, even if exceeding SION norms, are exempt from customs duty provided they are cleared w...
Service Tax : Explore the CESTAT Delhi ruling on Weldon Tours & Travels Pvt. Ltd. vs Commissioner of Service Tax, revealing no service tax liabi...
Custom Duty : Once a export benefit under which shipping bill was filed has been availed, the conversion to any other scheme cannot be allowed a...
Custom Duty : CESTAT Mumbai rules in favor of Ganesh Benzoplast Ltd., stating no confiscation if prior permission taken for storage of non-bonde...
Goods and Services Tax : Manner of processing and sanction of IGST refunds, withheld in terms of clause (c) of sub-rule (4) of rule 96, transmitted to the ...
Excise Duty : Audit para no. 5.1 to 5.18 of chapter V of Audit report no. 01 of 2021 on Show Cause Notices and adjudication process in CBIC has ...
Goods and Services Tax : Standard Operating Procedure (SOP) for implementation of the provision of suspension of registrations under sub-rule (2A) of rule ...
Goods and Services Tax : Greetings to all of you on the first GST Day celebrations! Today is an important milestone, when the momentous journey from the GS...
Goods and Services Tax : As we near the end of the Financial Year 2017-18, I would once again like to reiterate our need to focus on the recovery of arrear...
Being ready with the required IT infrastructure to usher in goods and services tax (GST) is high on the government’s agenda. The Nandan Nilekani-led seven-member Technology Advisory Group for Unique Projects (TAGUP) will meet here for the first time on June 28 to review IT preparedness for the proposed indirect tax regime.
In exercise of the powers conferred by clause (aa) of sub-section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 12/97-Customs (N.T.), namely:-
Former Infosys co-chair Nandan Nilekani will head a committee that will recommend to the finance ministry on how best to tap information technology for an effective tax administration and financial governance system. Called the technical advisory group for unique projects, the panel has been given a time frame of six months to make its suggestions, a finance ministry communique said Monday.
Companies managing to evade taxes on services received from abroad, such as management consultancy and banking, now may not be able to to do so as the government is all set to plug the loopholes in the system which helped flourish the practice till now.
Notification No. 42/2010 – Customs (N.T.), DATED THE 26th May, 2010 Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 1st June, 2010 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.
In a relief to insurance companies, the finance ministry has revoked its demand asking insurers to pay service tax on commission they receive from reinsurance companies. The Central Board of Excise and Customs (CBEC) has clarified that service tax cannot be levied on the reinsurance commission because an insurance company does not provide any service to a reinsurance company.
It was realised that defining goods (and even artificially) would solve problems. It did. But now the trend has become too often to give artificial definition by incorporating deeming clause through the word ‘includes’. The concept of ‘manufacture’ which is fundamental in central excise is inclusive. Section 2(f) of the Excise Act says manufacture includes any process, – (i), (ii), (iii). In Chapter 39 for plastics in the sub-heading note-2 plasticiser includes secondary plasticiser. There are umpteen such inclusive definitions in excise.
Exporters’ body FIEO said on Friday it will approach the government for withdrawal of an order which sought recovery of duty drawback credits from those who failed to realise payments from their buyers.Reversing a concession given by the commerce ministry to the embattled exporters in the midst of recession in the West last year, the Central Board of Excise and Customs has directed chief commissioners of customs and excise to recover the drawbacks from exporters who have not realised their proceeds.
Norms for issuing export licences should be tightened, the Central Board of Excise and Customs (CBEC) has told the Directorate-General of Foreign Trade (DGFT). The directive is believed to have come immediately after a probe by the Directorate of Revenue Intelligence (DRI) showed up inconsistencies in exports of textiles, gems and jewellery, to W Asian destinations.
Section 35A(3) of the Central Excise Act, 1944 / Section 128A(3) of the Customs Act, 1962 as it existed before 11.5.2001 provided that Commissioner (Appeals) shall, after making such further enquiry as may be necessary, pass such order, as he thinks just and proper, confirming, modifying or annulling decision or order appealed against or may refer the case back to the adjudicating authority with such direction as he may think fit for a fresh adjudication or decision as the case may be, after taking additional evidence, if necessary.
