CA, CS, CMA : Stay updated with key notifications and circulars on Income Tax, GST, Central Excise, Customs, DGFT, and SEBI issued between 29th ...
CA, CS, CMA : Stay updated with the latest income tax exemptions, GST advisories, customs amendments, and more from the week of 22nd-28th July 2...
Goods and Services Tax : Directorate of Legal Affairs, Central Board of Indirect Taxes and Customs is entrusted with defending all indirect taxes matters (...
Income Tax : CBDT has vide notification No. 21/2017 released ITR forms for Assessment Year 2017-18 / Financial Year 2016-17. The number of ITR ...
Income Tax : Application for allotment of Permanent Account Number(PAN) will be filed in SPICe (INC-32) form using Digital Signature of the app...
Custom Duty : Article contains Explanatory Memorandum to Notification Nos. 02 to 12-Customs, dated the 1st February, 2023 and Explanatory Memora...
Custom Duty : Articles explains Explanatory Memorandum To Notification Nos. 02 To 15-Customs Dated 1st February, 2022, Notification Nos. 07/2022...
Excise Duty : Finance Minister has introduced the Finance Bill, 2022 in Lok Sabha today, that is 1st February, 2022. Changes in Customs, Central...
Custom Duty : Govt has issued following notifications related to Excise and Custom duty to give effect to Provisions of Union Budget 2021- ̵...
Excise Duty : Comments/Suggestions invited to make the CESTAT appeal forms more simple, user friendly and useful for creation of data base. Repl...
Excise Duty : CESTAT Hyderabad held that rule 7 of Cenvat Credit Rules, 2004 is just a procedure and procedural lapse cannot be ground to deny t...
Income Tax : Office Order No. 125/2024: Immediate transfers and postings of Principal Commissioners and Commissioners in Customs and Indirect T...
Excise Duty : Notification 19/2024 reduces Special Additional Excise Duty on petroleum crude. Effective from August 1, 2024. Read the full detai...
Excise Duty : Explore the latest changes under Notification No. 18/2024-Central Excise by the Ministry of Finance, affecting excise duties effec...
Excise Duty : CBIC revises monetary limits for adjudicating show cause notices in Central Excise for commodities under Chapter 24 of Schedule IV...
Excise Duty : Explore Notification No. 17/2024-Central Excise by the Ministry of Finance, Government of India. Detailed amendments, effective fr...
Circular No. 225/59/96-CX I am directed to invite your kind attention to Circular No. 23/89 F.No. 139/7/88-CX.4) dated 28th July, 1989 wherein it was clarified that castings as they emerge from the mould or after fettling etc. would be appropriately regarded as semi-finished articles if having the essential character of the finished machine parts or as a blank for machine parts which be classified under Chapter 84, 85, 86, 87 etc.
Circular No. 224/58/96-CX I am directed to say that Confederation of Indian Industry has pointed about divergence in practice of classification of power driven pump sets for handling water. A.P.D. pump set may be a pump having an inbuilt prime mover designed and built as a complete unit, called a monoblock pump-set, or a pimp and a prime mover being two separable units whether complied or not put/ intended to be put on a common platform.
Circular No. 223/57/96-CX I am directed to say that clarifications have been sought regarding com-putation of assessbed value (AV) on petroleum products attracting ad valorem rate. In the budget for 1994-95. excise duty on petroleum products was prescribed on ad valorem basis as against specific rates of duty existing prior to budget. As far as pricing of petroleum products is concerned, they can be divided into two categories
Circular No. 221/55/96-CX Consolidated maintenance of RG-23A Part II is permitted where the inputs used are common in the manufacture of dutiable and exempted final product. However, the assessee is required to submit a statement giving details of the inputs used and the quantity of the exempted and dutiable final product manufactured, thereof alongwith credit availment/ reversal particulars at the end of the every month.
Circular No. 220/54/96-CX It has been represented that the Central Excise authorities are not sanctioning cash refunds of the accumulated Modvat credit under the provisions of rules 57F (4) of the Central Excise Rules, 1944. As a consequence, large sums of money are lying tied-up in the accumulated Modvat credit account with exporters running into crores of Rupee.
Circular No. 219/53/96-CX Under the provisions of rule 57G of the Central Excise Rules, 1944 any manufacturer of the excisable goods intending to avail of the credit of duty paid on inputs of the excisable goods intending to avail of the credit of duty paid on inputs in required to file a declaration in the prescribed form giving complete description of the inputs and the final product that he intends to manufacture
Circular No. 218/52/96-CX The Board vide its Circular No. 96/7/96- CX dated 13.2.1996 clarified that under the heading “Transit sale” movement of goods could take place directly on a Rule 52 A invoice from the manufacturer”s premises to the user”s premises on an order being placed by the dealer of excisable goods without being brought to the latter”s premises. The duplicate copy of the manufacturer”s invoice issued under the provisions of Rule 52A will serve as a cover for transport and for availment of Modvat credit.
Transit Sale – Movement of goods under rule 52A invoice- Regarding. The Board vide its Circular No. 96/7/96- CX dated 13.2.1996 clarified that under the heading ‘Transit sale’ movement of goods could take place directly on a Rule 52 A invoice from the manufacturer’s premises to the user’s premises on an order being placed by the dealer of excisable goods without being brought to the latter’s premises.
Circular No. 215/49/96-CX The matter regarding inclusion of notional interest on advances/ deposits in the assessable value of excisable goods have been re-examined in the light of the decision of the Supreme Court in the case of Metal Box India Ltd. v. CCE Madras (1995(75) ELT 49 (SC) and the Madras High Court decision in the case of UOI & Others – V. Lakshmi machines Works Ltd. (1996(62) ECR 265 (Mad)).
Circular No. 214/48/96-CX Representations have been received from the Trade that Central Excise Field formations have been collecting cess on tea waste. Cess is leviable on all tea produced in the country under the provisions of Tea Act, 1953 and no cess is leviable on tea waste or sweepings collected in tea factories.
