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P V Reddi takes over as Chirman of Advance Ruling Authority (Income Tax) with additional charge of Authority for Customs, Excise and Service Tax; CII to participate at IPR Summit in China; Russia likely to ban Indian rice and oil seeds import from May; Indian Newspaper Society to launch its own readership survey in four months; BHEL may foray into defence sector; |
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| Dear Member, Sending you the following files: |
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CBDT issues posting order for three deputationists returning to Revenue; Formation of Group companies to meet land ceiling requirement - Credit of TDS - Since Revenue did not appeal in the previous years when one of the Group companies took credit of TDS certificates issued in the name of another company, the case does not call for interference; |
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2007-TIOL-383-CESTAT-MAD.doc + steel story.doc Central Excise – Valuation – There being no sale of goods by the assessee to the raw material supplier, the assessable value should be determined on the cost of raw material, cost of manufacture, profit – Changed valuation not intimated to department – extended period of limitation invokable; Central Excise- Section 3A - in view of the omission of this provision from the statue, the demands held to be not determinable and confirmable;
SERVICE TAX SECTION ST - Tour Operator - Demand raised and penalty imposed for taking no registarion and paying no tax - Tax with interest paid - Since Amnestry Scheme was in force during this period, penaly is not called for;
CUSTOMS SECTION Sodium nitrite extended upto March 2008; Anti-dumping duty on caustic soda; Customs - Imports - In the absence of end use conditions is the relevant notifications the benefit of Concessional rate of duty cannot be denied; |
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Functional classification of Budget projects major leap in govt expenditure EPF Scheme amended - 'Inoperative Account' to substitute 'unclaimed deposits account'; Qatar companies blacklisted for ill-treatment of Indian workers; Glaxo moves to Apex court for marketing rights; PNB reduces interest rates on education loans; FIPB gives green signal to JM Finacials beside others; Sick HPL gets Government medications; Kindergarten kids to have IBM technology; |
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| Regards
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