Home Highlights November 2014 Year 2014 This

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

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

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

4. 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...

5. 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 -...

6. 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

7. 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 -...

8. 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...

9. 100% EOU - Refund of the accumulated CENVAT Credit - The Tribunal has rightly interpreted the words used in Rules 5 and 6 by pointing out that the words used in Rule 6...

10. Delay in deposit made to the employees Provident fund and ESIC - such sums were not credited by the respective assessee to the employees 'accounts in the relevant fund...

11. Schedule VII in the Companies Act, 2013 amended - Contribution to incubators funded by various authorities.

12. Reversal of CENVAT Credit - the appellant have complied with the condition prescribed under Rule 6(3)(ii) read with sub-rule (3A) of Rule 6 of Cenvat Credit Rules,...

13. Net profit @ 6% on bank deposits made - authorities below shall apply profit rate of 5% for the purpose of computing part addition as was directed in assessment year 2008-09 - AT

14. Short term capital gain - sale of units of mutual funds - Article 13(4)/13(5) of DTAA of India-UAE - the gains arising from transfer of units of mutual funds should not...

15. Exemption u/s 10(23AAA) - Once the fund is approved by the Commissioner in accordance with the Rules made in this behalf, the contribution made by the employees to the...