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Thursday , February 11, 2016 | Updated : Feb 11, 09:20 IST
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ST - Notification 12/2005 does not indicate that an assessee has to export services on or after 19.04.2005 to avail benefit of rebate of CENVAT credit - in absence of specific embargo substantial benefit should not be denied: CESTAT (See 'Breaking News') SICA & SARFAESI Act - Whether reference pending before Board for Industrial & Financial Reconstruction can be revived once secured creditors of company have initiated steps u/s 13 of SARFAESI Act - NO: SC (See 'Breaking News') I-T - Whether sum received by assessee at time of retirement can be treated as 'non-compete fee' even if he has continued to serve his employer for nine months after retirement and his age was about 83 at time of retirement - NO: HC (See 'Breaking News') CX - Quantum of deemed credit revised by amending notification but appellant availed credit as per earlier notification - credit reversed upon being pointed out - no malafide can be attributed to impose penalty - interest, however, payable: CESTAT (See 'Breaking News') Cus - Classification - 'Paddle Wheel Aerators' used in aqua farming are classifiable as agricultural equipment under CTH 84368090 - aqua farming is an integral part of agricultural activity: CESTAT (See 'Breaking News') CII calls for tax holiday for SEZ units for five years (See 'Mixed Buzz') Ban welcomes proposal for first binding limits on airlines' carbon emissions (See 'Mixed Buzz') Mumbai Airport Customs nabs pax + receiver of smuggled gold worth Rs 74 lakhs + lady employees of ground handling agency assisting them + also seizes gold worth Rs 80 lakhs in another case DGFT clarifies on issues relating to Minimum Import Price on Iron & Steel (See Trade Notice in 'DGFT') Budget should throw fresh light on GAAR and BEPS (See 'Editorial Column') Surplus in indirect tax mop-up to even out deficit in direct taxes: Revenue Secretary (See 'Mixed Buzz') Commerce Ministry hopes for SEZ tax benefits in Budget Govt to provide affordable housing in less than Rs 5 lakh: Gadkari MCA amends CAs Procedures of Meetings of Quality Review Board Rules (See 'TIOL Library') IGI Airport Customs seizes 10 kg gold worth Rs 2.8 Crore from pax coming from Singapore ST - Notification 12/2005 does not indicate that an assessee has to export services on or after 19.04.2005 to avail benefit of rebate of CENVAT credit - in absence of specific embargo substantial benefit should not be denied: CESTAT (See 'Breaking News') SICA & SARFAESI Act - Whether reference pending before Board for Industrial & Financial Reconstruction can be revived once secured creditors of company have initiated steps u/s 13 of SARFAESI Act - NO: SC (See 'Breaking News') I-T - Whether sum received by assessee at time of retirement can be treated as 'non-compete fee' even if he has continued to serve his employer for nine months after retirement and his age was about 83 at time of retirement - NO: HC (See 'Breaking News') CX - Quantum of deemed credit revised by amending notification but appellant availed credit as per earlier notification - credit reversed upon being pointed out - no malafide can be attributed to impose penalty - interest, however, payable: CESTAT (See 'Breaking News') Cus - Classification - 'Paddle Wheel Aerators' used in aqua farming are classifiable as agricultural equipment under CTH 84368090 - aqua farming is an integral part of agricultural activity: CESTAT (See 'Breaking News') CII calls for tax holiday for SEZ units for five years (See 'Mixed Buzz') Ban welcomes proposal for first binding limits on airlines' carbon emissions (See 'Mixed Buzz') Mumbai Airport Customs nabs pax + receiver of smuggled gold worth Rs 74 lakhs + lady employees of ground handling agency assisting them + also seizes gold worth Rs 80 lakhs in another case DGFT clarifies on issues relating to Minimum Import Price on Iron & Steel (See Trade Notice in 'DGFT') Budget should throw fresh light on GAAR and BEPS (See 'Editorial Column') Surplus in indirect tax mop-up to even out deficit in direct taxes: Revenue Secretary (See 'Mixed Buzz') Commerce Ministry hopes for SEZ tax benefits in Budget Govt to provide affordable housing in less than Rs 5 lakh: Gadkari MCA amends CAs Procedures of Meetings of Quality Review Board Rules (See 'TIOL Library') IGI Airport Customs seizes 10 kg gold worth Rs 2.8 Crore from pax coming from Singapore
 
   
BUDGET RUN-UP
budget_runup2016
Readying for GST - some suggestions
by R MANIMOHAN
Published: February 11, 2016
Looking through Section 32AC of Income Tax Act
by ASHIT KR CHATTERJI
Published: February 09, 2016
Reversal of CENVAT credit on Input Services, capital goods by Developers - exemption needed
by JAIPRAKASH H SHETHIYA
Published: February 10, 2016
India comes with a big bang- startup India standup India!
by SHEETAL BHATIA
Published: February 09, 2016
 
DDT (Daily Dose of Taxation)

Effect of 'in limine' dismissal of SLP by Supreme Court and Filing of Review Petition in Supreme Court - CBEC Clarifies

With VIJAY KUMAR

Effect of 'in limine' dismissal of SLP by Supreme Court and Filing of Review Petition in Supreme Court - CBEC Clarifies
Published: February 10, 2016

View previous DDTs »

WHAT'S NEW
CUS
:
Not 08 NT 22,23 Cir 06
ADD
:
Not 04 SG: 02 CVD 01
EX
:
Not 04 NT 03-02 Cir 1015
S.TAX
:
Not 1-3 Cir 190 Inst 
I-T
:
Not 03 Cir 24-25  
DGFT
:
Not 38 PN 60 Cir04
RBI
:
Cir 41-49    
BREAKING NEWS

Mumbai, February 11
ST - Notification 12/2005 does not indicate that an assessee has to export services on or after 19.04.2005 to avail benefit of rebate of CENVAT credit - in absence of specific embargo substantial benefit should not be denied: CESTAT

New Delhi, February 11
SICA & SARFAESI Act - Whether reference pending before Board for Industrial & Financial Reconstruction can be revived once secured creditors of company have initiated steps u/s 13 of SARFAESI Act - NO: SC

Mumbai, February 11
I-T - Whether sum received by assessee at time of retirement can be treated as 'non-compete fee' even if he has continued to serve his employer for nine months after retirement and his age was about 83 at time of retirement - NO: HC

Mumbai, February 11
CX - Quantum of deemed credit revised by amending notification but appellant availed credit as per earlier notification - credit reversed upon being pointed out - no malafide can be attributed to impose penalty - interest, however, payable: CESTAT

Chennai, February 11
Cus - Classification - 'Paddle Wheel Aerators' used in aqua farming are classifiable as agricultural equipment under CTH 84368090 - aqua farming is an integral part of agricultural activity: CESTAT

MIXED BUZZ
TIOL E-lite
TIOL TUBE SNIPPETS
Replies to these questions can be found by clicking on the text of these questions.
THE COB (WEB)

Creation of TPRU & Tax Policy Council - Govt favours Generalists at cost of Specialists!

by SHAILENDRA KUMAR

Creation of TPRU & Tax Policy Council - Govt favours Generalists at cost of Specialists!
Published: February 04, 2016

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Budget should fresh light on GAAR and BEPS by TIOL EDIT TEAM

Budget should throw fresh light on GAAR and BEPS
Published: February 10, 2016

View previous Editorials»

ICE CUBES
by NARESH MINOCHA Ponder over Megatrends unleashed by PPP fad

Time for PM to Unveil Model Code of Governance
Published: January 31, 2016

View previous ICE CUBEs »

GUEST COLUMN

Withdrawal of exemption of CVD on import of certain Drugs, Medicines, Diagnostic kits and Life Saving Drugs - An Analysis
Published: February 11, 2016
by S SURYANARAYANA

Withdrawal of exemption - a lopsided policy decision
Published:
February 11, 2016
by VINOD CHANDRA B VYAS

View previous Guest Column(s);

ST se GST tak

Service tax on works contract - Is rule laid by CESTAT on issue of free supplies a good law?
Published: February 11, 2016
by SUJIT KUMAR SINHA

When good intentions go badů
Published:
February 11, 2016
by P G JAMES

View previous ST se GST tak(s)»

View 'ST - New Law +VE or -VE' Articles»

 
 
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    Legal Wrangle - Episode 36 (International Taxation & Income Tax)