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TDSAT asks TRAI to look into MSOs' demand for greater share in CAS System; Govt to put Rehabilitation Policy in place soon for industrial use of land : PM; PM's two-fold message : tax exemptions to be scrapped to prevent misuse + India Inc be ready for fast track economic integration in South Asia; |
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| Dear Member, Sending you the following files: |
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CBDT issues zonal charge order for Members; CBDT issues yet another transfer order of 9 CCITs; CBDT allows Nagpur Municipal Corporation to issue tax-free municipal bonds; 2007-TIOL-02-ARA-IT.doc + ara story.doc Amounts received by the International Hotel Licensing Company from the Indian Hotel owner in connection with the marketing and business promotion activities conducted outside India to be taxable in India; Applicant is an American citizen - proposes to settle in India and withdraw money from Individual Retirement Account (IRA) periodically - will such income be taxed in India? - Since the applicant is neither earning any income nor undertaking any transaction with any other person in India nor belongs to the notified class of persons, his questions about taxability are beyond the purview of advance ruling; Short deduction of tax on meal allowance and conveyance allowance - penalty on the former not called for but the penalty issue on the latter remanded to tribunal; |
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2007-TIOL-13-HC-P&H-CX.doc + hc story.doc Even by omission of section 3A of the CEA'44, liability of the assessee incurred there under is not wiped out; Quantity discount - the timing of granting quantity discount is not relevant - if its availability was known to the trade at the time of sale and also the Revenue through price list it is is good enough to allow deduction; Shortage is to the extent of 0.2 % of the total raw material consumed - no evidence on record to show that the raw material in question has either been cleared by the appellants clandestinely or has been consumed in the manufacture of the final products, cleared without payment of duty - no justification for seeking reversal of modvat credit - Tribunal decision in Maruti Udyog followed. Cost Audit report indicating a shortage of raw materials of Rs.33 lakhs is in the form of a Management Information System (MIS) oriented towards improving the overall performance and efficiency in the operations of the company. It does not necessarily reflect either the value of material excess or shortage exclusively on item to item basis; SSI unit - Use of brand name not declared - However, brand name always mentioned in the invoice - Invocation of longer period - Limitation cannot be invoked merely on the basis of misstatment; misdeclartaion with an intention to evade duty is important;
SERVICE TAX SECTION 2007-TIOL-37-CESTAT-DEL.doc + st story.doc Licensing "know how" is not service but technical assistance connected with the know how is consulting Engineer service;
CUSTOMS SECTION 26/2000 amended to substitute entries in List 2 & 3; Import under FTA with Lanka - Rules of origin tightened for many products; 69/2004 amended to align 8-digit classification; Customs - Imports - Valuation - The value as prevailing in the country of origin during the time and place of import is the criteria and not the retail price as prevalent in India for enhancing the value; |
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ddt 8 jan.doc + tradenotice.doc + dgad notification.doc Anti dumping - Trimethoprim originating in or exported from China – sunset review – DA invites information; Clinical testing of drugs and formulations : Is DGCEI above the Finance Act?; BASIC requirements for e-government; Reforms from within needed; RBI further liberalises procedures in project and services exports; Financial Technologies gets GAFTA membership; BenQ phones to come with Mundu facility; Infosys BPO joins hands with HVS International; Dollex gets 'free sale quota'; EPIC Energy granted ISO 9001:2000 certificate; Dabur
ready to venture in foreign lands; Dubai World to invest in Bengal; |
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| Regards
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