Leaf No: 60 Month : March Year : 2015

SA Times celebrates 5th Anniversary!

FTP (2015 - 2020) 

 

 

 Kerala Finance Minister K.M.Mani is nominated as new chairman of GST Empowered Committee. The new chairman exudes confidence of getting all States on board and meeting the roll-out deadline for the new indirect taxes regime from April 1,2016.

 Constitutional Amendment Bill for the introduction of the goods and services tax (GST) to be passed by the Parliament during the second half of the Budget session starting from April 20, 2015.

 Union Urban Development Minister urges for sharing GST revenue with Municipalities across country to enable them take up urban reconstruction initiatives.

 Plea for textiles to be kept at lowest slab of GST due to crisis prevailing in Textile sector.

 State Of Maharashtra voices intention to let BMC continue collection of Octroi even after GST levied, as revenue recovered through GST may not compensate octroi collections.

 IMF opines structure of Indian GST as complex.

 LTU companies expresses apprehension about continuance of LTU scheme under GST.

 Centre to seek Parliament’s approval for additional expenditure on compensation to States and will table a Supplementary Demands for Grants to enable payment of the first installment of Rs.11,000 crore this fiscal year.

 Malaysia shifts to GST from 01.04.2015.

 Prime Minister Mr. Narendra Modi launched his ambitious multi-purpose and multi-modal platform PRAGATI (Pro-Active Governance And Timely Implementation).

 Mr Indrajit Dasgupta, Chief Commissioner of Central Excise & Service Tax in Ahmedabad, received the prestigious Global Indian Music Award in Mumbai.

 ISRO gets Gandhi Peace Price for 2014.

 The International Monetary Fund (IMF) has forecast India will grow 7.5 per cent in 2015-16, up from 7.2 per cent in the current year.

 Instructions regarding adjudication of Central Excise and Service Tax Cases booked by DGCEI.

 D.O. letter regarding timely disposal of registration applications.

 Import of Steel and Steel Products in contravention of the Steel and Steel Products (Quality Control) Order, 2012 and Steel and Steel Products (Quality Control) Second Order, 2012, shall not be allowed.

 Vessel Amendment in Shipping Bill.

 New Determination of Origin Rules notified.

 Customs Tariff (Determination of Origin of Products under the Duty Free Tariff Preference Scheme for Least Developed Countries) Rules, 2015 notified.

 Tariff Value of Gold, Silver Increased.

 Exchange Rates notified.

 New laboratory is added for purpose of certification/ grading of diamonds of 0.25 carats.

 Mandatory documents required for export of goods from India and import of goods into India.

 Amendments/additions to Categories 2, 3, 5 & 7 of SCOMET list [Appendix 3 to Schedule 2 of ITC(HS) Classification of Export & Import Items] have been notified.

 Two new Customs Ports, Kattupalli Port and APM Terminals, Pipavav Port are being added  for importing new vehicles.

 Removal of M/s. Siddhartha Testing and Consulting Services, Nepal from the list of Inspection and Certification Agencies.

 Input Tax Credit reversal imposed at the rate of 3 per cent on the inter-state sale of goods as per proviso to section 19(2) (v) of Tamil Nadu Value Added Tax Act 2006, which was introduced with effect from 11.11.2013 has been withdrawn and (c) under Section 19(5) of TNVAT Act, 2006 will henceforth be withdrawn to enable the dealers to claim Input Tax Credit on the inter-State sale of goods without ‘C’ form.

 Dealers manufacturing tiles and using them in contract - Materials purchased for manufacture of tiles not used in contract as such- Dealer not entitled to deduction - State of Tamilnadu V Raj Floorings - 2015 78 VST 48 0 (Mad).

 Turnover of exempted goods not to be reckoned for determination of taxable turnover and levy of composition fee - Commercial Taxes Officer, Ajmer V Krishna Trading Company - 2015 78 VST 514 (Raj).

 Sale of Assets of company in liquidation by Official liquidator-Purchaser offering bid amount inclusive of all statutory levies cannot be made liable to pay tax - Hindustan Urban Infrastructure Ltd V Assistant Commissioner, Ernakulam & Ors - 2015 79 VST 1 (SC).

 Official liquidator selling goods in winding up proceedings of company-is a dealer liable to pay tax-Purchaser not liable to pay tax on its purchase - Assistant Commissioner, Ernakulam V Hindustan Urban Infrastructure Ltd & Ors  - 2015 79 VST 5 (SC).

 Once an article is classified and put under a specific entry, the basis of such classification is not open to question - Ms Raman Boards Ltd V State of Karnataka - 2015 TIOL 756 HC KAR VAT.

 ED coating to bumpers to extend shelf life does not amount to manufacture and hence value addition on account of such process is not chargeable to excise duty - Maruti Suzuki India Ltd vs CCE - 2015-TIOL-30-SC-CX.

 Petition challenging Rule 9 of Customs Appeal Rules, 1982 regarding appointment of Ex-Government Officers as Authorised Representatives before CESTAT dismissed - Dilip Kumar vs UOI - 2015-TIOL-703-HC-KAR-CX.

 Pre-deposit of 7.5% is not required in cases where lis commenced before date of amendment requiring deposit of 7.5% of disputed amount - Muthoot Finance Ltd vs UOI 2015-TIOL-632-HC-KERALA-ST.

 There is no violation of Article 14 when Entry 16/Notification 25/2012-ST does not extend exemption to services provided by performing artist to film actors - Siddharth Suryanarayan vs UOI - 2015-TIOL-561-HC-MAD-ST.

 By virtue of subsection (2A) of Section 86 tribunal is competent to entertain appeal on rebate claim filed by Central Excise Officer as per direction of Committee of Commissioners - CST vs Ambe International - 2015-TIOL-577-HC-MUM-ST.

 Issue whether services consumed within the SEZ are exempt or taxable, would be having a relation to the rate of duty and hence appeal is not maintainable in Highcourt - CCE vs Credit Suisse Services (I) Pvt Ltd - 2015-TIOL-552-HC-MUM-ST.

 Power to issue summons under Section 14 is not curtailed by fact that assesee had produced all relevant documents when called for by Department - Kunj Power Projects Pvt Ltd vs Commr of Customs - 2015-TIOL-645-HC-ALL-ST.

 Application filed under VCES having effect of declaring a different value than what is disclosed in ST 3 is to be entertained by designated authority as made in accordance with scheme - Indokem Ltd vs UOI - 2015-TIOL-633-HC-MUM-ST.

 Service components of composite transaction under works contract service is taxable under Commercial/Residential construction service & Erection commissioning service prior to 01.06.07 - Larsen & Toubro Ltd vs CST - 2015-TIOL-527-CESTAT-DEL-LB.

 Agreement prescribing all inclusive price for goods does not invoke provisions of Section 11D when such goods are exempted from excise duty - Indian Hume Pipe Company Ltd vs CCE - 2015-TIOL-387-CESTAT-DEL.

 Trade discounts passed on subsequently through credit notes is an allowable deduction - Insecticides India Ltd vs CCE - 2015-TIOL-573-CESTAT-DEL.

 No provision for refund of interest paid on credit wrongly reversed - Hindalco Industries Ltd vs CCE - 2015-TIOL-309-CESTAT-BANG.

 Excise duty is payable on additional amounts collected from the buyers over and above the selling price towards handling, transportation or facilitation - Indian Oil Corporation Ltd vs CCE - 2015-TIOL-539-CESTAT-MUM.

 There is no provision to set off short payments for particular period with excess payments - Car Pune Pvt Ltd vs CCE - 2015-TIOL-412-CESTAT-MUM.

 Associated Enterprise transactions brought with in ambit of service tax vide Explanation (c) appearing under sub-section (4) of Section 67 applies prospectively from 10.05.2008 - Sify Technologies Ltd vs CCE - 2015-TIOL-525-CESTAT-MAD.

 EPCG obligation fulfilled by exporting goods manufactured in factorty where the imported machinery is not installed is violation of para 4.1 of the EXIM 1992-97 policy - Beetel Teletech Ltd vs Commr of Customs - 2015-TIOL-530-CESTAT-DEL.

 

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