Home Highlights July 2017 Year 2017 This

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1. Levy of excise duty @1% or 5% on exempted goods vide Finance Act, 2011 - petition by the traders - levy on purchase of coal - decided against the purchasers / traders - HC

2. Denial of input tax credit - cancellation of the few traders with retrospective effect - failure to prove the actual purchase of the goods - credit was rightly denied - HC

3. Classification of services - running website through which the interested steel manufacturer/trader are making trade - it merits classification as e-commerce service and...

4. Bogus Purchase - determinitation of income - Merely, it is pointed out that the assessee was a trader and ITAT retained 12.5% of the purchase towards its possible profit...

5. Central Government notifies special procedure by a registered person engaged in manufacturing of the goods - Notification

6. Cenvat credit on purchase of raw material - sponge iron being the raw material/inputs purchased from registered dealer - goods received on endorsed invoices - goods were...

7. Fraudulent availment of CENVAT Credit - grey fabrics - Enough material was placed on record by the petitioner to suggest that the invoices were issued by duly registered...

8. MODVAT / Cenvat Credit – Capital Goods - Manufacturer versus trader - The appellant had only acted as a trader or as an exporter in relation to the machinery purchased...

9. Levy of entry tax - If a dealer registered within the same local area, purchases goods from the local manufacturer with intent to sell goods within the same local area,...

10. Records maintained by a registered Central Excise Manufacturer / Dealer - Article