Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Shyama Builders Versus Commissioner of Central Excise, Pune-I

Levy of penalty - appellant has discharged 25% of the amount of service tax on 05/03/2014, while they received the order-in-original on 28/01/2014 - advance payment for construction work - appellant has already discharged service tax liability before issuance of the show cause notice and also discharged interest liability on issuance of the show cause notice. - Held that:- the period for discharging service tax and penalty has been extended to 90 days if the value of the service tax is less than .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ainst Order-in-Appeal No: PUN-EXCUS-001-APP-245-14-15 dated 19/03/2015 passed by the Commissioner of Central Excise (Appeals), Pune-I. 2. Heard both the sides and perused the records. The issue involved in this case is regarding setting aside of penalties imposed by the adjudicating authority and upheld by the first appellate authority. 3. The relevant facts that arise for consideration are, the appellant is a builder and for the period 2010-11 and 2011-12 they received some advance payment for .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ntion for setting aside the penalty, he submits that the explanation to the definition of 'residential complex' was inserted on 01/07/2010 and the said definition which created liability for service tax on advances received was taken up by the Association of Builders before the Hon'ble High Court of Bombay and Hon'ble High Court decided the issue against the Association and held that the said explanation will be applicable and tax liability needs to be discharged and the said jud .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the amount of service tax as penalty in accordance with the provisions of Section 78, more, more specifically 4 th proviso of Section 78(1) of the Finance Act, 1994, as the appellant has paid 25% of the amount as penalty on 05/03/2014, which is within 90 days of receipt of the order-in-original. On a specific query from the bench, the learned counsel submits that he is not contesting the grounds of appeal relating to cum-tax benefit to be extended to the appellant. 5. On other hand, learned Depa .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

se of Bharat Cam Industries vs. Commissioner of Central Excise in appeal No. ST/85409/2015, Order No. A/3220/15/SMB dated 11/09/2015 will be applicable in the facts of this case as 25% of the amount has been discharged as penalty and, therefore, provisions of Section 80 need not be invoked. 6. I have considered the submissions and perused the records. Since the appellant is not contesting the issue on cum-tax benefit, I take up the appeal for disposal only on the issue of penalties imposed. I fi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ically 2 nd and 4 th proviso to Section 78 (1) of the Finance Act, 1994 would be applicable in this case as the appellant has discharged 25% of the amount of service tax on 05/03/2014, while they received the order-in-original on 28/01/2014. Section 78 of the Finance Act, 1994, during the relevant period is reproduced. "78. Penalty for suppressing value of taxable service:- (1) Where any service tax has not been levied or paid or has been short-levied or short-paid or erroneously refunded, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     Latest Happenings     ↓  

News: Notification Issued For GST Actionable Claim On Branded Food Products

News: GST Refund - Blockage of Working Capital of Exporters - earlier also there was a normal blockage of funds for a period of 5-6 months at least

News: Clarification about Transition Credit - ₹ 1.27 lakh crore of credit of Central Excise and Service Tax was lying as closing balance as on 30th June, 2017 - claim of credit of ₹ 65,000 crore is not unexpected

Article: 20 Things You must know about E Way Bills in GST Law

Article: MISTAKES IN DRAFTING

Forum: Duty Drawback- Urgent

Highlight: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg. - Circular

Highlight: The definition of "subsidiary company" or "subsidiary" u/s 2(87) of the Companies Act, 2013 shall come into force w.e.f. 20-9-2017

Highlight: Central Government notified the All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017 - Notification

Notification: All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017

Circular: Investment by Foreign Portfolio Investors in Corporate Debt Securities Review

Notification: Exemptions on supply of services under UTGST Act

Notification: Rates for supply of services under UTGST Act

Notification: Exemptions on supply of services under IGST Act

Notification: Rates for supply of services under IGST Act

Notification: List of Exempted supply of services under the CGST Act

Notification: Rates for supply of services under CGST Act

Highlight: Acceptance of deposits by companies from its members - conditions relaxed in case of Specified IFSC Public company and a private company - Rule 3 amended

Notification: Rate of exchange of conversion of the foreign currency with effect from 8th September, 2017

News: Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities

Notification: Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items 2012

Forum: GST Invoice

Notification: The Customs and Central Excise Duties Drawback Rules, 2017

Circular: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg.

News: GST implementation smoother than expected: Jaitley

Forum: GST - TRAN1 - filed - Data uploaded with Remarks Processed with Error - Not coming in Electronic credit ledger - need suggession guidance

Forum: 3B mistake

Forum: Input tax credit

Forum: Excise duty credit on finished stock at additional place of business.

Forum: Due date of Filing TRAN-1

Highlight: Diversion of income at source - Joint venture agreement - 97% of the receipt transfer to M/s TRG Industries (P) Ltd. - scope of the agreement - it is diversion by overriding title - not taxable in the hands of assessee - HC

Highlight: Expenditure on eligible projects or schemes u/s 35AC - After 01.04.2017 the legislature desired to withdraw such deduction. - The Union legislature was competent to introduce such amendment - HC

Highlight: Transfer of trading assets at cost price, the profit component also stood transferred to the outgoing Directors, which otherwise belonged to the Company - the fact that AO has made the addition in the hands of the Directors would not make any difference - additions confirmed - HC

Highlight: The interest u/s 234B of the Act cannot go beyond the stage of S.245D(I) before the Settlement Commission - HC

Highlight: Galvanized iron pipe is a different commercial commodity than a iron pipe, therefore the activity of galvanization in our considered opinion amounts to manufacture - Deduction u/s 80-IB allowed - HC

Highlight: Penalty u/s 271C - non deduction of TDS on interest paid to sister concerns in terms of Section 194A - Levy of penalty confirmed - HC

Highlight: Disallowance of interest - reference to section 179 - The legislature has also recognised, that the doctrine of lifting of veil in the matter of tax dues is to be applied to prevent fraud etc. and not where the company has suffered despite its normal bona fide function. - HC

News: RBI Reference Rate for US $

Notification: Amendment in Notification No. S.O. 3118(E), dated the 3rd October, 2016

Highlight: Discount on ESOP to be allowed as business expenditure u/s 37(1), during the years of vesting on the basis of percentage of vesting during such period, subject to upward or downward adjustment at the time of exercise of option.

Notification: Central Government appoints the 20th September, 2017 as the date on which proviso to clause (87) of section 2 of the Companies Act 2013, shall come into force

Notification: Companies (Restriction on number of layers) Rules, 2017

Highlight: Penalty u/s 271(1)(c) - additional income disclosure - surrender of income post survey u/s 133A - he disclosure made by the assessee is voluntary in nature, in the revised return - no penalty

Highlight: Reopening of assessment - notice u/s 148 issued on the directions of JCIT / CIT - a perusal of reasons for initiating reassessment proceedings clearly show that they are against the sprit of provisions u/s 147

Highlight: MAT - Adjustment to book profit - computation u/clause (f) of Explanation-1 to section 115JB(2) is to be made without resorting to the computation as contemplated u/s 14A r.w.Rule 8D of I.T. Rules.

Highlight: Addition on account of alleged suppression of service value received - the addition made simply believing the Form 26AS will be an arbitrary exercise of power which cannot be sustained

Notification: Exempts intra state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 12/2017-UTT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 11/2017- UTT(R) to reduce CGST rate on specified supplies of Works Contract Services

Highlight: Liability to pay duty on import of software - Though no authorization was given by the appellant to DHL, it is an undisputed position that the software has, in fact, been ordered by the appellant and have been delivered to them by DHL - the appellant is to be considered as the importer



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version