Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Indirect tax Digest May 9 2016

Other Topics - By: - Bimal jain - Dated:- 10-5-2016 - Indirect tax Digest - May 9, 2016 Sanskrit word Akshaya means one that never diminishes. May this day of Akshaya Tritiya bring you good luck and success which never diminishes. Particulars Notification/Circular/Citation SERVICE TAX If the services provided outside India and the consideration is actually received in the convertible foreign exchange, benefit of export of services cannot be denied even if the contract contains the amount of cons .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

AD ] SEZ turnover should also be included in the export turnover in the numerator and also, in the total turnover in the denominator, while computing the refund of unutilized Cenvat credit on Inputs and Input Services pertaining to export of services. Cognizant Technology Solutions Vs. Commissioner of Central Excise & Service Tax (LTU), Chennai [ 2016 (2) TMI 580 - CESTAT CHENNAI ] If the assessee pays the amount of tax along with interest before issuance of show cause notice and the matter .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

16 (3) TMI 299 - CESTAT AHMEDABAD ] When the assessee is showing the availment of Cenvat credit in the statutory records like in register RG23A (Part II), TR-6 challan and ER-1 return, then it cannot be alleged by the Department that the assessee has suppressed facts from the Department, hence the extended period for issuance of show cause notice cannot be invoked. R.R. Paints (P.) Ltd. Vs. Commissioner of Central Excise, Mumbai-III [ 2016 (3) TMI 950 - CESTAT MUMBAI ] When the assessee has reve .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ner of Central Excise, Jaipur-I [ 2016 (3) TMI 99 - CESTAT NEW DELHI ] The Hon ble Punjab & Haryana High Court set aside the ex-parte order passed by the Tribunal in favour of revenue, since the assessee did not receive the notice for hearing, further the condonation for delay in filing application for recalling the ex-parte order is also allowed. Mittal Construction Co. Vs. Commissioner of Central Excise, Ludhiana [ 2016 (4) TMI 1113 - PUNJAB AND HARYANA HIGH COURT ] Amendments made in Noti .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Excise dated May 5, 2016 Amendment made in Notification No. 12/2012-CE dated March 17, 2012 which prescribes the effective rate of Excise duty on goods falling under Chapter 1 to 96:- Amendment made in the existing entries and new entries inserted relating to goods like Populated printed circuit board of- Lithium-ion battery other than battery for mobile handset, Broadband Modem, Router, Set-top box for gaining access to internet, Digital Video Recorder (DVR)/Network Video Recorder, (NVR), CCTV .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ication No. 26/2016 - Central Excise (N.T) dated May 5, 2016 Routers with an abatement rate of 20% on retail sale price specified by amendment made in the Notification No. 49/2008-CE (N.T.) dated December 24, 2008. Notification No. 25/2016 - Central Excise (N.T) dated May 5, 2016 CUSTOMS Even if assessee paid the amount under protest, but not appealed against the adjudication of demand by the assessing authority regarding the said amount, then demand will continue to be in force and the assessee .....

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 impugned order has no leg to stand and the same accordingly set aside. Orbit Jewellers, Omkar Jewellers, Bharat Jamnadas Jagda, Sh. Mahesh Kumar Mool Chand Kothari And C.C., Air Cargo (Exports) , New Delhi Vs. C.C., Air Cargo (Exports) , New Delhi, Omkar Jewellers, Orbit Gold, Mahesh Kumar Mool Chand Kothari And Komal Jain, Director [2016 (5) TMI 80 - CESTAT NEW DELHI] Assessee can waive the Show Cause Notice under Section 124(a) of the Customs Act, however the Department has to pass an adju .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e Department may issue notice under Section 110 of the Act. Shiv Shakti Trading Company Vs. Commissioner of Customs (Preventive) [ 2016 (4) TMI 408 - DELHI HIGH COURT ] The special CVD paid by the assessee using the balance lying in the DEPB scrips, the said duty is refundable in cash and the Circulars No. 6/2008 dated April 28, 2008, 10/2012 dated March 29, 2012 and 18/2013 dated April 29, 2013 issued by the CBEC could not impose additional restriction in relation to refund, which are not given .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

l goods at destination); Section 95 (Master of a coastal vessel to carry an advice book)etc. Notification No. 56/2016-Customs (N. T.) dated April 27, 2016 The provisions of Section 30 (Delivery of import manifest or import report) and Section 41 (Delivery of export manifest or export report) of the Customs Act is applicable to vessels carrying exclusively Coastal goods operating from those berth which are used by vessels carrying imported goods/exported goods. Notification No. 57/2016 - Customs .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ds like Preform of silica for use in the manufacture of telecommunication grade optical fibres or optical fibre cables, Charger or adapter, battery, wired headsets for use in manufacture of mobile handsets including cellular phones etc. Notification No. 30/2016-Customs dated May 5, 2016 The mobile phone parts like charger or adapter, battery, wired headsets and speakers of mobile handsets including cellular phones, has been exempted from whole of the duty of Customs including additional Customs .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

two financial years, which is now increased to current and previous three financial years. Form ANF 3C (Application for on line filing of grant of Status Certificate of Appendices and Aayat Niryat Form of FTP 2015-20) is notified to include the current and previous three years to give effect to the above amendment. Notification No. 04/2015-2020 dated April 29, 2016 Public Notice No. 05/2015-2020 dated May 3, 2016 A new Appendix 5D has been notified containing list of services, payments for whic .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rates under Merchandise Exports from Indian Scheme (MEIS)] of Appendix 3B. Earlier these 2787 lines required submission of proof of landing as reward was not available for all markets, hence after making addition in the said table, Landing Certificate shall not be required under MEIS on these markets also. Public Notice No. 06/2015-2020 dated May 4, 2016 Appendix 3E has been notified containing list of services where payment received in Indian Rupees, can be treated as receipt in Deemed Foreign .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

FTP-2015-20. Public Notice No. 08/2015-2020 dated May 6, 2016 CENVAT CREDIT Changes in Cenvat Credit Rules, 2004: Rule 6(3)(i) of the Credit Rules has been amended to restrict the reversal of 6% on exempted goods and 7% on exempted services to a maximum of the sum total of opening balance of the credit of input and input services available at the beginning of the period to which the payment relates and the credit of input and input services taken during that period. In Rule 7B(1) of the Credit R .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

was earlier over the period of right to use. Further, in case of further assignment of such rights to another person against consideration, then the balanced Cenvat credit shall be allowed in the same financial year maximum upto the Service tax payable on the consideration charged by him for further assignment. [Notification no. 24/2016-C.E.(N.T.) dated April 13, 2016.] VAT Additional Commissioner of Delhi VAT has no power to reject the application submitted by the assessee to seek the immunity .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

89/CA.74/56/S.8/95 dated September 4, 1995 issued by the Haryana Government, will be allowed even to the dealers who purchase goods from the units eligible for exemption under the said Notification and subsequently made inter-state sale, then, in such cases, CST will be exempt on the said goods also. CASIO India Co. (P.) Ltd. Vs. State of Haryana [ 2016 (4) TMI 7 - SUPREME COURT ] The application for seeking waiver of pre-deposit of assessed tax cannot be rejected by the first appellate authorit .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

VAT/ 2016/ 113-125 dated April 28, 2016 The registered dealers under DVAT, who have opted to pay composition tax @ 5% under a new composition Scheme, are not required to pay tax on opening stock, if such assessee w.e.f April 1, 2016 intend to shift from composition scheme under Section 16(1) of the DVAT Act to new composition scheme given by stated notification in exercise of powers conferred under Section 16(12) of the DVAT Act. Further the registered dealers who intend to shift to new composi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

turn Verification Form). Circular No. 02 of 2016-17dated April 28, 2016 DVAT returns is to be furnished with digital signatures in Form DVAT 16 or Form DVAT 17 for the tax period commencing from April 1, 2016 Notification No. F3(643)/ Policy/ VAT/ 2016/ 157-169 dated May 3, 2016 GST CORNER Experts worry about price rise post GST RSS does not want government to pass GST bill: Congress GST important reform that could further strengthen India s economy: 2016 ESCAP survey Kerala will gain from GST, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ity of Krishi Kalyan Cess Amended rule 7 of Point of Taxation Rules, 2011 ( the POTR ) provide for Point of Taxation where there is change in the liability or extent of liability of Service tax to be paid by Service Receiver under Reverse Charge because of changes in abatement rate, composition rate, change in rate of Service tax, applicability of any new levy like Krishi Kalyan Cess w.e.f June 1, 2016 etc. For detailed discussion please watch at: https://www.youtube.com/watch?v=NU5_2iAMy3g Any .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| 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