Home Highlights February 2013 Year 2013 This

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1. National Manufacturing Policy in Few Weeks, Cabinet Paper Moved Anand Sharma Addresses Export Summit-2011.

2. Claim of deduction u/s 80IC - Packaging of Horlics, Boost for Glaxo Smithkline Consumer Healthcare Ltd. amounts to manufacture or not u/s 2(29BA) – deduction allowed - AT

3. Anushka Sharma - Wedding Ring – Customs Law on Import of Jewellery - Duty & Penalty

4. Major impetus to job creation and infrastructure: Radical changes in FDI policy regime; Most sectors on automatic route for FDI

5. Valuation - Job work - the value of scrap cleared need not be included for discharging the duty liability on the job worked item

6. Classification - Dry fruits – Roasting or salting does not result in the creation of a new article, or a significantly altered one as to amount to “manufacture” - HC

7. Extension of time for filing refund claim under Rule 5 of CENVAT Credit Rules, 2004 - question needs to be factually addressed only by the adjudicating authority - AT

8. Levy of GST - job work charges charged for manufacturing of Cattle Feed / Poultry Feed on job work basis - scope of supply - the activity is liable to GST @5%

9. Cenvat credit - job work - input services used in the manufacture of job worked goods exempted under Notification No.214/86-CE is admissible. - AT

10. Denial of CENVAT Credit - Job work - assessee utilized Cenvat credit on capital goods and inputs which were used in the manufacture of the job-worked goods - credit allowed - HC