Home Highlights October 2017 Year 2017 This

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1. Marketibility/excisability - Milk Crumb - There is no dispute with regard to the shelf life of the product. Shelf life of the product is one of the determinant of the...

2. Short shelf-life cannot be equated with no shelf-life. Shelf-life of 2 to 3 days – Product is marketable and excisable - SC

3. Excisability/marketibility - radioactive isotope - isotope does not have any shelf-life and the moment it comes into existence, its start decaying and reduces to half of...

4. Exemption u/s 11 - Charitable activity - running pharmacy store in the hospital and was selling drugs and medicines to the patients through this pharmacy store - AO was...

5. Expenses on cast reusable iron moulds – The short shelf life of the cast iron ingot moulds, which is to be purchased on regular basis as if it is a part of the stores...

6. Offence under FEMA - Levy of penalty post compounding orders - We cannot hold petitioners responsible for contravention once the compounding orders have been passed. We...

7. Compounding of offences - KVAT Act - For compounding an offence, which of the compounding fees should be paid by the assessee: the one prevailing when the evasion took...

8. CBEC issues clarification regarding transitional provisions relating to Duty Free Shops/ Ship stores /Airline Stores/ Diplomatic Stores

9. Exemption from Service Tax - Services by way of Renting the Warehouse to store Fruits & Vegetables - the applicant has rented the warehouse to the Lessee for storing...

10. Transshipment of ship stores - Merely because as on the date of transfer of ship stores to the newly built vessel SV Shivam, which was not ready for voyage, the transfer...

11. Key Man Insurance Policy - once it has been sold as a life insurance policy on the keyman to the business, as long as it is in the nature of life insurance policy,...

12. Disllowances towards premium of keyman insurance policies - once it has been sold as a life insurance policy on the keyman to the business, as long as it is in the...

13. Inter-mediate product - captive consumption - the sugar syrup in the present case has indeed shelf life therefore, it is marketable - sugar syrup is dutiable - AT

14. Classification of goods intended to be imported - Compounded Rubber - Compounded rubber formulation 1 (with less than 5 parts of Carbon Black) mentioned in para 5.1...

15. Compounding of offence(s) - determination of compounding fee - first occasion - 5% or 3% of the amount of tax in default - Since a common application had been filed for...