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Attack on Delhi Chief Secretary turning into street fights & legal battlesDAE Health Scheme notified for Sec 80D benefitsIssuance of Certificate of origin retroactively - period enhanced to twelve months from the date of shipment - Customs Tariff (Determination of Origin of Goods under the Comprehensive Economic Partnership Agreement between the Republic of India and Japan) Rules, 2011 amendedSummons in GST (See 'JEST GST on GST Home Page')I-T - When Revenue had accepted assessee as investor in previous year, it cannot change his status to trader merely because he made some profit on shares: ITATEmployee Benefits - An OverviewST - Transport of goods by air – Tax payable during period 10.09.2004 to 16.09.2004 and 16.6.2005 to 14.07.2005 as there was no exemption from payment of such tax during said period: CESTATComposition scheme eligibility, process and benefitsCX - There is no provision under CCR, 2004 for denial of credit on ground that assessee has admittedly deployed inputs in excess of ideal for achieving desired output level: CESTATIAS Association condemns attack on Delhi Chief Secretary; demands immediate actionICAI removes name of O P Tulsyan from register of Members for five years in compliance with Allahabad HC orderST - Supreme Court agrees with Larger Bench CESTAT decision in Bhayana Builders - Revenue appeals dismissedCabinet clears bills on illicit deposit & chit funds regulations (See 'TIOLCorplaws')Cabinet nod for Tribunal on river disputeCabinet nod for bus bay near Indian Defence UniversityCabinet nod for coal mining methodologyCabinet okays Indo-Moroccan railway pactFive IRS officers appointed as CESTAT Members - Sanjiv Srivastava (Mumbai) + P Anjani Kr (Mumbai) + P Venkata Subba Rao (Hyderabad) + Bijay Kr (Delhi) + C L Mahar (Delhi)CBDT issues transfer order of four CITsI-T - Incriminating evidences obtained prior to date of search, cannot be roped in to make additions in case of unabated assessments: ITATPNB scam should pave road for financial transparencyBurdensome registration requirement under GST law be done away withST – World Bank and International Finance Corporation are part of United Nations, therefore, there is no need to resort to definition of International Organization for extending benefit of notification 16/2002-ST: CESTATAnti Profiteering Application - An analysisCX - Merely on basis of statement given by one employee to police that raw materials worth Rs.2 crore were destroyed in fire, same cannot be taken as gospel truth: CESTATGovt keen to make agri schemes 'income-centric' rather than 'production-centric': MinisterKolkata DRI seizes 12.4 kg elephant tusk being smuggled from Assam to NepalDigital India successing becoz of people's pull: PMFish eats plastic & humans eat fish - serious health hazard: MinisterI-T - When assessee was only a licensee, not having exclusive rights over a property, vide unregistered document, it cannot claim to be owner of property for purpose of Sec 22: HCRailways relaxes upper age limit for Group C postsNo GST is leviable on goods sold/transferred while remaining in Customs bonded warehouseLeviability of IGST and as well as Compensation cess under Customs ActAG expresses concern over CBEC cases being dismissed by SC on ground of delayTime to shift focus from acronyms to gaps in performanceGST - Industry reports cumbersome procedures & high cost of compliance
 
Service Tax on GTA : DG withdraws clarification

TIOL-DDT 94
13 04 2005
Wednesday

Service Tax on GTA – DG withdraws clarification

WE are happy to report that the DG Service Tax has withdrawn the controversial clarification we reported yesterday. On behalf of thousands of assessees spread across this large country, we express our deep feelings of gratitude to the DG Service Tax for the courage in withdrawing the clarification which we pointed out was patently illegal. Any one can make a mistake; it takes real strength to correct a mistake. A responsible and responsive tax administration ready to admit a mistake and that too promptly before much damage could be done is the greatest happening. Now the consignors/consignees can continue to pay Service Tax on 25% of the value. Yesterday’s storm was only one in the tea cup and it has blown over. All’s well that end well. Your Taxindiaonline promises to humbly continue with its mission to constantly watch and report such aberrations and this kind of prompt corrections boost our morale. Thank you DG!

Cenvat Credit Rules amended

As per Rule 6, if inputs are used in dutiable and exempted goods, either separate accounts are to be maintained or 10% on the final products are to be paid. However there is a third option as per Rule 6(3) in respect of certain goods like LSHS, Naphta, Newsprint, textiles etc,. In these cases proportionate credit can be reversed. Now the Government has added LPG for domestic consumption and Kerosene for public distribution to the list.

Notification No. 18 /2005-Central Excise (N.T.) dated 12.04.05

Duty paid on exempted goods eligible for credit

That is what the Madras High Court ruled in a recent case. Remember the proposed amendment to Section 5A of the Central Excise Act which bars the assessees from paying duty on exempted goods. But if they still do? Allow credit? If that is the law, what is the purpose of the amendment? – See our story and the case in today’s ”breaking News”

Sale to Government/Industrial Consumers/hotels for own consumption – retail or wholesale?

There are conflicting views of the Tribunal benches on this issue. Now the Bangalore bench of the CESTAT has referred the matter to a Larger Bench. – SEE
2005-TIOL-292-CESTAT-BANG

PMT for Revenue officials?

I am sure you know what PMT means, but I am not referring to that. This is about a more damaging trauma called PRE MARCH TENSION for Revenue officers to hit that much elusive target and however difficult it is, most of them manage to do it – by hook or crook – or statistics! An ingenious way employed by an enterprising Income Tax officer was to attach the Bank Accounts of an assessee a day after the Commissioner (Appeals) passed an order. The Tribunal was not amused and ordered refund. Refund comes only in April or later but target has to be reached in March. See our ITAT case today.

God! Grant me

The strength to change the things I can

The courage to accept the things I cannot

And the serenity to know the difference

Until Tomorrow with more of DDT

Have a Nice Time

Mail your comments to
vijaywrite@taxindiaonline.com


 RECENT DISCUSSION(S) POST YOUR COMMENTS
   
 
Sub: Proporationate credit reversed in textiles

we are textile processor had avialed option for dutiable as well as exempted goods can v allowed under rule reversed credit proporationately if yes then when this rule come in to force our email id is ashoksalecha@rediffmail.com

please reply as early as possible.

Posted by ashokkumar ashokkumar
 
Sub: Pull downs and praise

Only a day before your reported Article has condemned the DGST and termed it as eligible for museum. Now the said Circular on GTA has been withdrawn, you shower with him all praise and what not.
ANY WAY THANKS FOR SAVING LAKHS OF ASSESSES FROM CONFUSION AND UN WANTED SCNs.
by,
M.RAM KUMAR,
INSPECTOR OF CE,
BANGALORE

Posted by ramkumar ramkumar