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Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme court
Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme courtYour final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme court
CBEC CIRCULAR - Implementation of the provisions of COTP Act, 2003 and The Cigarettes and Other Tobacco Products (Packaging and Labelling) Rules, 2008”- Empowering the Customs & Central Excise Officers-CBEC issues clarification | 2010-ITS-480-CESTAT - Even though it can be said that ignorance of law cannot be an excuse, but it can be only one of the factors while considering imposition of penalty. | 2010-ITS-471-CESTAT - The word "inputs" covers only the input goods, not the input services. | SEZ UPDATES - Procurement, Import and Export of Prohibited and Restricted Goods -clarification issued | DGFT PUBLIC NOTICE NO - 48 - Indo – China Border Trade- Import/Export of the specified commodities by residents of border districts who are issued trade passes, as per the prevailing customary practice will be allowed freely | CBEC CIRCULAR NO -916 - CBEC clarified that tractors are chargeable to tractor cess in terms of the Tractor Cess Rules, 1992 read with the IDRA Act, 1951. | CBEC CIRCULAR NO -917 - Export warehousing –Extension of facility at Gautam Budh Nagar in the state of Utter Pradesh and Nagpur in the state of Maharashtra | CBEC CIRCULAR NO -916 - CBEC clarified that tractors are chargeable to tractor cess in terms of the Tractor Cess Rules, 1992 read with the IDRA Act, 1951. | DGFT NOTIFICATION NO -33 - Prohibition on Export of Non-basmati Rice – Ban on export of Non-basmati rice not to be applicable to export of 20,000 MT of rice (Ponni Samba) to Sri Lanka through PEC and to to export of 25,000 MT of Non-basmati rice to Nepal through MMTC | 2010-ITS-430-CESTAT - Doctrine of unjust enrichment is not applicable to a claim for refund of fine and penalty. | 2010-ITS-422-CESTAT - Conversion of straight grade bitumen into blown grade bitumen through oxidation known as blowing process does not amount to manufacture | 2010-ITS-417-CESTAT - Clearance of goods manufactured prior to levy of duty not being the excisable goods, cannot be called upon to pay duty at the time of clearances of the goods, after levy of duty. | DGFT NOTIFICATION NO-32 - Duty Credit Scrips can also be used / debited towards payment of Customs Duties in case of EO defaults under Authorizations issued under Chapters 4 and 5 of the Policy | CBDT CIRCULAR NO -03 - CBDT CIRCULAR NO -3/2010, Dt: March 2, 2010 | 2010-ITS-443-SC - Roll over charges not relating to fixed assets should be charged to the Profit & Loss Account. |
Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme courtYour final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme court
Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme court

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Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme court

 

New Changes in Service Tax As Proposed in Finance Bill 2010

Service Tax is the key area which invites  maximum public attention and media coverage during Budget every year and in every in last few services are brought under the tax domain . This year is also no exemption to the  trend .The new service that have been brought under service tax net are as follows :-

 1) The promotion, marketing or organizing of games of chance, including lottery, is being introduced as a separate service. Consequently, the Explanation in provision relating to Business Auxiliary Service is being deleted.  It is proposed to insert clause (zzzzn)in Section 65(105) of the Finance Act,1994 so as to define taxable service as “any service provided or to be provided to any person, by any other person, for promotion, marketing, organizing or in any other manner assisting in organising games of ch ...
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Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme court
 

Daily updates in Excise ,Custom ,Income Tax, DGFT,Service Tax ,vat & RBI

CBEC CIRCULAR NO -918/08/2010 Dt : March 4, 2010
Implementation of the provisions of COTP Act, 2003 and ...

Service Tax Notification No-18/2010 Dt: March 2, 2010
CORRIGENDUM ......

Income Tax Notification No. 14/2010, dated 5-3-2010
Petroleum Conservation Research Association notified un...
 

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Income Tax Notification No. 13/2010, dated 5-3-2010
Public Health Foundation of India notified under section 35(1)(ii)  ...

SEZ Instruction No. 47, dated 4-3-2010
Procurement, Import and Export of Prohibited and Restricted Goods  ...

A.P. (DIR Series) CIRCULAR NO -41/RBI., Dated: March 5, 2010
Exim Bank's Line of Credit of USD 15 million to the Government of the Republic of Benin ...

PUBLIC NOTICE NO-48/2009-2014, Dt: March 5, 2010
Indo – China Border Trade- Import/Export of the specified commodities by residents of border distri ...

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CESTAT, Mumbai: withering Justice

Justice needs to prevail at any cost but when it comes to implementation, the state of affairs is deplorable. If this continues then it will simply result in the destruction of the institution. The people will have no faith in the administration of justice. In India, the problem starts with the law making in itself. The law is laid out in the first place in such a manner that it will provide leverage for interpretation for rent seeking. Therefore, the authorities in the implemen ... Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme courtRead Full Story
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Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme court
 
Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme court

Highlights
Economic Survey 2009-10
Foreign Trade Policy 2009-2014
Order for payment of second installment of arrears on account of implementation of Sixth Central Pay Commission's recommendations issued
FM unveiled new Direct Tax Code
FINANCE MINISTER'S REPLY TO THE DEBATE ON FINANCE (N0.2) BILL 2009

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Should You Apply For Life Assurance Plans?
Pension tips for women
Home Insurance and What It Entails
What You Should Know About Buildings and Contents Insurance
Choosing Between Term and Permanent Life Insurance

 

 Spot Light (Read All)

Once it was considered as manufacturing and excise duty was paid in that status, the CENVAT Credit available could not be reversed.
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Where valuation of goods for the purpose of leviable duty is concerned, jurisdiction of the High Court is specifically excluded under Section 35G of the Central Excise Act.
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Wherever the legislature desires to provide for condonation of delay, a specific provision has been made in the Act
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Refund of excise duty received during the relevant assessment year, would be taxable in that year
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It is well settled that the decision of High Court has a binding force as compared to the decision of Tribunal.
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Central Excise returns filing made mandatory since March 2010 for Assessee who paid duty of Rs 10/- and more in last Financial Year
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Appellant cannot be permitted to dissect the Settlement Commission's order

Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme court

Facts of the case of M/s Sanghvi reconditioners pvt. versus Union of India & ors. decided on  dt .5-02-2010 as follows:-  The appellant is an importer and ship repair unit registered with the Director General of Shipping, Government of India. On the basis of the intelligence gathered, premises of the appellant were searched by the officers of the Customs Commissionerate, Mumbai in December, 1997, resulting in the recovery of incriminating documents. The investigations revealed that the appellant had clandestinely availed of benefit of import duty Exemption ...

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With Effect From 1st March '10
Currency Import Export
Euro 63.75

62.05
Pound 72.65
 70.75
US 46.65 45.70
Japanese Yen 51.45
 50.00

FINANCE (NO. 2) ACT, 2009
Special Economic Zones (Third Amendment) Rules, 2009
Income-tax (Appellate Tribunal) Amendment Rules, 2009
Special Economic Zones (Second Amendment) Rules, 2009 - Amendment in rule 2, 5 and 19

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Your final destination -Indian tax law, Rules,acts ,notification, circular of customs, excise , vat ,fema, dgft, cbdt,cbec,case law of cestat,itat ,high court and supreme court

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