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 →

Commissioner Of Central Excise & Customs, Mumbai Versus M/s LSR Speciality Oils Pvt Ltd. And Vice-Versa

Valuation - MRP based value or transaction value - whether 50 Ltrs package of Lubricating oil should be valued as per Section 4 or 4A? - Held that:- The fact emerges is that the goods in question are not sold to industry and are is not used as raw material by any industry, it is admitted position that 50 Ltrs. Package is sold to the truck owners who consumed themselves. In such situation, it cannot be said that 50 Ltrs package is covered under the exemption provided under Rule 34 of Standards of .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

y, we find that all the show cause notices were issued within the normal period of one year, no suppression of mis-statement exists in the present case. Moreover, issue involved in the present case is purely of interpretation of valuation provisions. In view of this undisputed fact we are of the view that penalty of equal amount is not warranted in the facts and circumstances of the case. We therefore reduce the penalty from ₹ 9,28,432/- to ₹ 2,00,000/- - While confirming the de .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

/411/Bel/2006 dated 30/6/2006 passed by the Commissioner of Central Excise (Appeals), Mumbai, wherein Ld. Commissioner (Appeals) has dismissed the appeal of the appellants. 2. The fact of the present case is that assessees are engaged in the manufacture of excisable goods i.e. Lubricating Oil falling under chapter sub-heading No. 2710.90 of the First Schedule to Central Excise Tariff Act, 1985 on job work basis for M/s. Esso Petroleum India Pvt Ltd up to 31/7/2002 and from 1/8/2002 M/s. Exxon Mo .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

basis under Central Excise valuation Rules, 2000. However, prior to 1/7/2001 the assessee were clearing the goods packed in 50 Ltrs containers on payment of Central Excise duty on assessable value based on MRP under Section 4A of the Central Excise Act, 1944 and with effect from 1/7/2001 they have started paying duty on assessable value based on cost construction under Central Excise Valuation Rules, 2000. After 1/8/2002 i.e. after taking over the business of M/s. Esso Petroleum India Pvt Ltd by .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

r-in-original assessee filed appeal before the Commissioner (Appeals) who upheld the order in originals and rejected the appeal of the assessee. Aggrieved by the impugned orders assesee filed Appeals No.E/2970/06, E/1067/07 and Revenue filed Appeal No. E/55/07-MUM for setting aside Order-in-Appeal No. AT/717/Bel/2006 dated 27/11/2006 seeking enhancing the penalty imposed to the maximum penalty specified under Rule 25 of the Central Excise Rules, 2002. 3. Shri. Sushant Murthy, Ld. Counsel for the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

equired to be affixed accordingly the said goods will not be covered under Section 4A in terms of provisions of Standards of Weights and Measures Act. He further submits that even MRP is affixed though it is not required as per the provisions of relevant Act the duty cannot be charged on the value as per Section 4A in terms of CBEC Circular No. 411/44/98-CX dated 7/1/1998. He also relied upon the CBEC Circular No. 625/16/202 dated 28/2/2002 wherein it was clarified that in respect of goods which .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

in clandestine removal or has intention to evade excise duty. In support of his submission, he placed reliance on following judgments: (a) India Cements Ltd. vs. CCE [2002 (150) ELT 1344 (Tri)] (b) Kshetriya Shree Gandhi Ashram, vs. CCE [2002 (150) ELT 834 (Tri)] (c) BPL Sanyo Utilities vs. CCE [2002 (149) ELT 1416 (Tri.)] 3.2 As regards department's appeal for enhancement of penalty imposed in one of the order in Original No. JC/27/VP/05-06 dated 29/10/2005 and upheld by the Order-in-Appeal .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

de the excise duty which is proved on the fact that prior 1/7/2001 the assessee was paying excise duty under Section 4A on the same 50 Ltrs pack therefore they have knowingly stopped paying duty. In these circumstances, they are liable for penalty equivalent to the duty. He further submits that Ld. Commissioner has wrongly held that once the order was passed on the party's appeal which includes penalty, order of the penalty was merged in the order-in-appeal and applying the doctrine of merge .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

] (b) Commisioner of C. Ex, Mumbai II vs. Godrej & Boyce Mfg. Co. Ltd [2009(233) ELT 446 (Bom)] (c) Maxim Adhesive Tapes Pvt Ltd. Vs. Commissioner of Central Excise, Daman - 2013-TIOL-837-CESTAT-AHM 5. We have carefully considered the submissions made by both sides. 6. We find that the issue on merit involved is whether 50 Ltrs package of Lubricating oil should be valued as per Section 4 or 4A. As per the facts of the case, we find that the 50 Ltrs package is sold in the market through distr .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ackages Nothing contained in these rules shall apply to any package containing commodity if, - (a) the marking on the package unambiguously indicates that it has been specially packed for the exclusive use of any industry as a raw material or for the purpose of servicing any industry, mine or quarry: PROVIDED that this exemption shall not be available in respect of- (i) any yarn which is sold in hanks to handloom weavers; (ii) any component, part or material used in any workshop, service station .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

, if sold by weight or measure.] (c) - (d) - (e) - (f) - From the above Rule, it is clear that if the goods are used as raw material by the industrial user then it will not be treated as retail sale and MRP is not required to be affixed. In the circumstances of the case, the fact emerges is that the goods in question are not sold to industry and are is not used as raw material by any industry, it is admitted position that 50 Ltrs. Package is sold to the truck owners who consumed themselves. In s .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ant for the reason that in the said Board circular it is clarified that as per standards of Weights and Measures Rules, if MRP is not required to be affixed then goods should be assessee in terms of Section 4. In the present case as discussed above, 50 Ltrs package is required to be affixed with MRP and no exemption is available. The Board Circulars have no relevance in the facts of the present case. 6.2 Regarding the judgment of Castrol India Ltd (supra) relied upon the assessee, we find that i .....

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     ↓  

Highlight: National Advisory Committee on Accounting Standards - Tenure of the NACAS extended from one year to two years

Notification: National Advisory Committee on Accounting Standards

Forum: Duty Drawback- Urgent

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 - "subsidiary company" or "subsidiary"

Highlight: Restriction on number of layers for certain classes of holding companies - More than two layers of subsidiaries not allowed subject to certain exceptions.

Forum: GST on RCM on rent in a unregistered state

Forum: COMPOSITION SCHEME

Forum: Input Tax Credit - Reg

Forum: GST Invoice

Article: Websites of Government Departments need lot of improvement. We are noticing detoriations in them for example, case of website of ITAT.

Highlight: Levy of additions tax u/s 115O on distribution of dividend - shares of its profits declared as distributable among the shareholders is not impressed with the character of the profit from which it reaches the hands of the shareholder - not to be bifurcated as agriculture and non-agriculture dividend - SC

Highlight: Rate of GST on old and scrap buses - 28% or 18% - at such initial tender process initiated by the Respondents-KSRTC, the present petitions filed by the petitioners are premature and misconceived and do not require any interference by this Court at this stage. - HC

Forum: Rent a cab operator

Highlight: In view of amendment made u/s 132A of the Income Tax Act, 1961 by Finance Act of 2017, the 'reason to believe' or 'reason to suspect', as the case may be, shall not be disclosed to any person or any authority or the Appellate Tribunal, SC dismissed the appeal of the assessee

Highlight: Validity of Assessment Order - period of limitation u/s 153 (2A) is applicable even if the entire order was not set aside but matter was remanded back for for limited aspects with directions - HC

News: Note ban was a shake-up, achieved its main objectives

Notification: Amendments in the notification No.5/2017- Integrated Tax (Rate) dated the 28th June, 2017.

Highlight: Levying interest u/s 234C - interest is to be charged on the returned income and not on assessed income.

Highlight: Accrual of income - sale of right to develop and sell incentive FSI under LOI - till the conditions of LOI are fulfilled transfer is not complete and income does not accrue to the assessee

Highlight: TPA - determination of ALP - TP adjustment by applying Bright Line Test (BLT) is not sustainable on protective basis having no statutory mandate.

Highlight: Safeguard Duty - Advance License Scheme - as there is no exemption from safeguard duty leviable under Section 8C, which is imposed on the goods imported from China, the importer has to pay safeguard duty

Highlight: Manufacture - process of cutting of waste plastic container - Such plastic containers before and after cutting are nothing but waste / scrap - Not a manufacturing activity as no new product emerges.

News: NITI Aayog and Govt. of Assam organizes workshop on health sector reforms in Guwahati; launches SATH- Sustainable Action for Transforming Human Capital

Notification: Seeks to amend notification no. 5/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding restriction of refund on corduroy fabrics

Notification: Seeks to amend notification no. 2/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst exemptions

Notification: seeks to exempt Skimmed milk powder, or concentrated milk

Notification: Seeks to amend notification no. 2/2017- integrated tax(rate) dated 28.06.2017 to give effect to GST council decisions regarding GST exemptions.

Notification: Seeks to amend notification no. 1/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates

Notification: Seeks to amend notification no. 1/2017- integrated tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates.

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

Highlight: Classification printed computer stationary/manifold Business Forms - to be classified under Chapter Heading 4820.00 or under Chapter Heading 4901.90 - items like A4 sheets, advertisement and job card to be classified under Chapter 49

Article: RCM Applicability to persons not liable to get registered us 23(1)

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

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

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



|| 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