Tax
'Anardana' Be Classified Under Heading 1209 Of Tariff Entries Under Customs Tariff Act, 1975 & Attract 5% Custom Duty Till Revenue Takes Policy Decision Regarding The Same: Supreme Court
The Supreme Court, on Monday, held that 'anardana' or dried pomegranate seeds would fall under Heading 1209 of the Tariff entries issued under the Customs Tariff Act, 1975, as classified by the Customs Excise and Service Tax Appellate Tribunal, attracting a custom duty at the rate of 5%, till the Revenue takes a considered policy decision regarding its classification. The issue before...
Amount Lying After Wrong Invocation Of The Bank Guarantee: CESTAT Directs Payment of Interest
The Delhi Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the amount was lying in the nature of the pre-deposit with the department from the date of encashment of the bank guarantee. The bench of Anil Choudhary (Judicial Member) has observed that the appellant is entitled to 12% interest from the date of encashment of the bank guarantee under Section 129EE of...
Devices For Track-And-Trace To Be Affixed In Suspected Consignment During Controlled Delivery Operation: CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has notified the Controlled Delivery (Customs) Regulations, 2022.The Controlled Delivery (Customs) Regulations, 2022 prescribe the manner in which to undertake controlled delivery. If the proper officer has a reasonable belief that a suspect consignment is being imported into or exported out of India, he must file a report in...
CESTAT Allows Cenvat Credit On The Capital Goods
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), consisting of Anil Choudhary (Judicial Member), has allowed the cenvat credit on the capital goods, as their finished goods falling under CTH 68109990 are dutiable under the Central Excise Tariff Act.The appellant is engaged in the manufacturing of RCC pipes, taxable under chapter heading no. 68109990 of the CETA. The...
Telangana High Court Holds Telangana Value Added Tax (Second Amendment) Act, 2017 To Be Unconstitutional
The Telangana High Court has held that the Telangana Value Added Tax (Second Amendment) Act, 2017 is unconstitutional.The division bench of Chief Justice Ujjal Bhuyan and Justice P. Madhavi Devi has observed that the intention of Parliament in ushering in the GST regime through the Constitution Amendment Act, enactment of the CGST Act and simultaneous enactment of various State GST Acts...
Sufficiency Or Inadequacy Of Reasons To Believe Cannot Be Looked Into While Considering Validity Of Search & Seizure U/Sec 132 Income Tax Act: Supreme Court
The Supreme Court, in a judgment delivered on Wednesday, restated the principles in exercising the writ jurisdiction in the matter of search and seizure under Section 132 of the Income Tax Act."The sufficiency or inadequacy of the reasons to believe recorded cannot be gone into while considering the validity of an act of authorization to conduct search and seizure", the bench comprising...
Section 11 Application Barred By Limitation; Parties Cannot Be Referred To Arbitration: Punjab and Haryana High Court
The Punjab and Haryana High Court has reiterated that if the application for appointment of arbitrator under Section 11 of the Arbitration and Conciliation Act, 1996 (A&C Act) is hopelessly time-barred, no arbitrator can be appointed by the High Court. The Single Bench of Chief Justice Ravi Shanker Jha was dealing with an application filed under Section 11 of the A&C Act...
Cash Deposits Related To 'Shroff Business' Is Not An Undisclosed Income: ITAT
The Rajkot Income Tax Appellate Tribunal (ITAT), consisting of TR Senthil Kumar (Judicial Member) and Annapurna Gupta (Accountant Member), has ruled that the cash deposits related to the Shroff business are not an undisclosed income. The assessee/respondent is in a Shroff business and derives income from commission. The AO had information that there was a cash deposit...
CESTAT Allows Credit Of CVD And SAD Paid For Imports Made Prior To The GST Regime
The Chennai Bench of CESTAT has allowed credit of CVD and SAD paid after 30.06.2017 for the imports made prior to 30.06.2017, i.e., prior to the GST regime, under the advance authorisation scheme. The Single Bench of Judicial Member Ms. Sulekha Beevi held that credit of CVD and SAD paid by the importer could not be denied on the ground that the duties were paid by the appellant only...
Mandatory Pre-Deposit U/S 129E of the Customs Act Is Constitutional: Bombay High Court
The Bombay High Court has ruled that by virtue of section 129E of the Customs Act, the right to appeal is a conditional right. The legislature, in its wisdom, has imposed a condition of deposit of a percentage of duty demanded or penalty levied or both. The three-judge bench of Justice R.D. Dhanuka, Justice Nitin W. Sambre, and Justice Abhay Ahuja has observed that the...
"Tobacco & Tobacco Products" In Schedule To Odisha Entry Tax Act Include 'Bidi': Orissa High Court
The Orissa High Court has held that 'bidi' comes under the purview of "tobacco and tobacco products" as provided under Entry 16, Part I of the Schedule to the Odisha Entry Tax Act, 1999 ('OET Act'). A Division Bench of Chief Justice Dr. S. Muralidhar and Justice Radha Krishna Pattanaik observed, "Although learned counsel for the Petitioner sought to contend that under...
Renting Land For Fish/Prawn Farming Attracts 18% GST : AAR
The Andhra Pradesh Authority of Advance Ruling (AAR), consisting of D. Ramesh and RV Pradhamesh Bhanu, has ruled that 18% GST is payable on the rental of land for fish or prawn farming as the purpose of use of land was not mentioned in the lease agreement. The applicant had executed an agreement with Grobest Feeds Corporation (India) Private Limited for the purpose of taking a...