Tax
DGFT Notifies Export Quota Of Broken Rice For LCs Prior To September 08, 2022
The Director General of Foreign Trade (DGFT) has notified the export quota of broken rice for Letters of Credit (LCs) prior to September 8, 2022, for the Financial Year 2022–23.The DGFT notified a quota of 3,97,267 MT for the export of broken rice only for the LCs opened before the notification dated September 8, 2022. For the export during the Fiscal Year 2022-23, the message exchange...
CESTAT Allows Cenvat credit To Satyam Computer For Service Tax Paid On Medical Insurance Premium Of Employees And Their Family
The Hyderabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), comprised of two members Anil Choudhary (Judicial Member) and P. Venkata Subba Rao (Technical Member), has granted Satyam Computer a cenvat credit for service tax paid on insurance premiums for employees and their families.The appellant/assessee assailed the order passed by the Commissioner of Central...
Combined Wire Rope Not Integral Part Of Fishing Vessel, Attracts 18% GST: Gujarat AAR
The Gujarat Authority of Advance Ruling (AAR) has ruled that combined wire rope is not a part of a fishing vessel but it is used to tie the fishing net with the vessel and 18% GST is applicable.The two-member bench of Amit Kumar Mishra and Milind Kavatkar has observed that goods whenever used as a part of a fishing vessel or vessel attract 5% GST, otherwise, they attract the applicable GST...
Activity Of Printing Advertisement Content On PVC Material Amount to "Manufacturing", No Service Tax Payable: CESTAT
The Hyderabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the service tax is not payable on the activity of printing advertisement content on PVC material.The two-member bench headed by Justice Dilip Gupta (President) and P.V. Subba Rao (Technical Member) has observed that the activity of printing advertisement content on PVC material which results...
Advertisers And Target Audience Are Outside India - Equalisation Levy Not Applicable On Google Ads: ITAT
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) has held that an equalisation levy is not payable on advertising payments where advertisers or the target audience are located outside India.The two-member bench of Dr. S. Seethalakshmi (Judicial Member) and Rathod Kamlesh Jayantbhai (Accountant Member) have observed that when the intention of the levy is related to the...
Detention Order not Passed based on Statutory Timelines: Madras High Court Directs Release of Vehicle
The Madras High Court has ordered the release of the vehicle as the department has failed to pass the detention order within the period as provided for under Section 129 of the Tamil Nadu Goods and Services Tax Act, 2017 (TNGST Act) and no show cause notice has been issued within the period of 7 days as set out under Section 129(3) of the TNGST Act.The single bench of Justice Anitha Sumanth...
Allegations Of Clandestine Removal Of Goods Merely Based On Entries In Diaries Not Sustainable: CESTAT
The Allahabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the allegation of clandestine removal is merely based on the entries in diaries, etc. is not sustainable.The bench of P. Anjani Kumar (Technical Member) has observed that the department has not adduced any additional evidence, even on a sample basis, to substantiate the allegation of...
Parathas Different from Plain Chapatti, Attracts 18% GST: Gujarat AAAR
The Gujarat Appellate Authority of Advance Ruling (AAAR), while upholding the ruling of AAR, has held that 18% GST is applicable on parathas.The two-member bench of Vivek Ranjan and Milind Torawane has observed that the parathas are different from plain chapatti or roti and cannot be treated as or covered under the category of plain chapatti or roti. The appropriate classification of...
CENVAT Credit Eligible On Service Tax Paid By Registered Premises Even If Invoices Raised In The Name Of Unregistered Branch Office: CESTAT
The Mumbai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the assessee is eligible for CENVAT Credit on service tax paid by registered premises even if invoices raised are in the name of an unregistered branch office.The single bench of Suvendu Kumar Pati (Judicial Member) has observed that in the event of centralised billing and centralised...
Income Tax On Interest Income From FD, Ownership Need To Te Determined By Arbitral Tribunal: Delhi High Court
The Delhi High Court has held that income tax cannot be levied on the interest income from fixed deposits till the ownership is determined by the arbitral tribunal.The division bench of Justice Manmohan and Justice Manmeet Pritam Singh Arora has agreed with the finding of the two Appellate Authorities below that till the final award was passed by the Arbitral Tribunal determining the ownership...
CESTAT Allows Refund Of Amount Reversed In CENVAT Credit Account To Reliance Industries
The Mumbai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that Reliance Industries Ltd. was ineligible for a refund of amounts that had, inadvertently, been reversed in the CENVAT credit account under rule 6(3A) of the CENVAT Credit Rules, 2004 between April 2010 and March 2011.The two-member bench of Ajay Sharma (Judicial Member) and C.J. Mathew...
Preventing Docket Explosion - Pre-SCN Consultation Should Be Held : Delhi High Court
The Delhi High Court has held that it is obligatory on the part of the concerned officer to ensure that prior to the issuance of the show-cause notice (SCN), a pre-notice consultation is held with the person chargeable with customs duty or interest.The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has observed that the person chargeable with duty or interest was...