Home Highlights January 2013 Year 2013 This

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1. Expenses on purchase on new items - Acquisition of new assets for replacement of existing assets as current repairs - 10% of items listed by the AO are held to be of capital - AT

2. Revenue or capital expenditure - current repairs u/s 31 - overhead expenditure on construction - deductionallowed - AT

3. Valuation - inclusion of value of bought out items - it is found that the bought out items have not been attached with the weigh bridge. Even after installation of the...

4. CENVAT Credit - Capital goods - Inputs - Cement and Steel items - There is no blanket or absolute bar in claiming credit on the disputed items, unless used for the...

5. CENVAT Credit - inputs/capital goods - all the items in question has been used by the appellant for fabrication of capital goods - the items in question has been used by...

6. Availment of CENVAT Credit - input credit on the items which were used for repairs and maintenance of the capital goods is eligible to the assessee - AT

7. Nature of expenditure - purchase of tools and spares - revenue or capital expenditure - The test of enduring benefit is not the only criteria for concluding an item to...

8. Import of food items - List of “Out of Scope” items as received from FSSAI

9. The notification introduces amendments to Para 10.08 of Chapter 10 of FTP 2023, outlining two significant provisions: (1) General Authorization for Export of...

10. Valuation - non-inclusion of value of Bought Out items received at site - If there was any undervaluation of these items then the demand of duty should have been made on...

11. Duty drawback - Classification of goods exported - sanitary ware - Ultimately, it is the end use of the product that is decisive and in the instant case, the items are...

12. Input Tax Credit - Inputs - Promotional Products/Materials & Marketing items used by the Appellant in promoting their brand & marketing their products - The goods...

13. CENVAT Credit - Capital goods - it is clearly evident from the records that these items were used as components of Match Plates, Moulding Boxes, Sand Mixers, Conveyor...

14. Classification of imported vehicle/ car - misdeclaration - Violations of certain conditions with reference to freely importable items cannot make the items as a prohibited item.

15. CENVAT credit - MS items such as plates, angles, channels and sheets - items not excluded by the Rule 2(k)(f) - definition of inputs u/r 2(k) of CCR, 2004 include all...