Home Highlights August 2014 Year 2014 This

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1. Levy of penalty CFS / Customs Cargo Service Provider (CCSP) = Loss of revenue - on Smuggling - Red Sanders - Recovery of value of the lost goods from the Appellant -...

2. Clandestine Removal - in the absence of evidence in the form of to Manufacture of such huge quantity, the consumption of electricity, additional packing material payment...

3. Clandestine removal of goods - Shortage of raw materials i.e. Ferro manganese and Ferro Molybdemum – assessee failed to prove burning loss or moisture loss - the...

4. Correctness of erasure of credit already availed by prospective invalidation of eligibility for retention of credit that would subject those services already procured...

5. Clandestine removal - MS Ingots - the findings of clandestine removal cannot be upheld based upon the third party documents, unless there is clinching evidence of...

6. Income accrued in India - section 9(1)(i) - Explanation 5 has been given retrospective effect and Explanations 6 and 7 have been inserted in furtherance of the object of...

7. 100% EOU - burning loss - difference between the permissible burning loss of 7.5% and actual burning loss of 15% - Therefore there is always difference between the input...

8. Scope of exemption notification - Absolute exemption or conditional exemption - In the present case, the goods were supplied under notification No. 108/1995-CE depending...

9. Re-assessment - Time limitation for notices issued - period of limitation enhanced from 5 years to 6 years - Prospective or retrospective amendment - 5 year period...

10. CENVAT Credit - common input services for trading goods - Rule 6(5) starts of non-obstante clause ‘notwithstanding’, which would indicate that the provisions of Rule...

11. Clandestine removal - CENVAT credit Demand - Penalty - shortage of goods - Mere signing of the chart alleging removal of finished goods cannot be treated as clear...

12. FEMA (Transfer or Issue Of Security By A Person Resident Outside India) - Sixth Amendment – Amendment In Regulations 2, 5, 10, 12 And Schedules 1, 2, 5, 6 & 7 - Notification

13. Refund claim of service tax paid on cancelled transactions - Post GST era - Rejection of refund under Rule 6(3) of Service Tax Rules read with Sec 142(5) of CGST Act -...

14. Reversal of Cenvat Credit - Whether the appellant is liable to pay 5% / 6% / 7% of the value of exempted services (trading) as they failed to maintain separate accounts...

15. Clandestine Removal - Loss of quantity due to temperature variation - petroleum products - The demand is raised only because of the difference in quantity when the...