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TIOL-DDT 1160 CBEC has appointed adjudicating authorities for adjudication of specific DRI cases. Instead of issuing a notification, whenever DRI books a multi- jurisdictional case, why can't the Board appoint a few adjudicating officers in the DRI who can adjudicate all DRI cases? Similar arrangement can be made for DGCEI cases also. The present system of DRI booking cases and issuing Show Cause Notices and then making the jurisdictional officers to adjudicate them, is a cumbersome process. In any case, Commissioners and below who adjudicate DRI cases routinely confirm the demand, not that they don't in other cases. There seems to be lurking fear within the Department that DRI will be very angry if their cases are dropped. The first stage of Departmental adjudication has become a real farce and waste of time and money and is helpful only to consultants. Customs NT Notifications 92 ,93, 94 ,95 ,96,97,98,99 – 100/2009 Dated July 20, 2009 FBT Collections down – wise tax payers! The Fringe Benefit Tax collections for the first quarter of 2009-10, showed a negative growth of 7.56 percent (Rs.1,031 crore as against Rs.1,115 crore) compared to the corresponding period last fiscal. Maybe many of the taxpayers were aware of the fact that FBT would be abolished and so they did not pay the tax that was payable. Now it is doubtful, whether the Department would refund the FBT collected. Please see our Budget Analysis - FBT: Controversial in birth and controversial in death too! Cash Withdrawal at Point-of-Sale – RBI Instructions At present, cash withdrawal facility using plastic cards is available only at Automatic Teller Machines (ATMs). As on May 31, 2009, number of ATMs and POS terminals in the country stood at 44,857 and 4,70,237 respectively. The use of debit cards at Point-of-Sale (POS) terminals at different merchant establishments has been steadily increasing. As a further step towards enhancing the customer convenience in using the plastic money, it has been decided to permit cash withdrawals at POS terminals. To start with, this facility will be available for all debit cards issued in India, up to Rs. 1000/- per day. Now you can go to the mall and use your Bank Debit Card, to buy all the goodies you need and more – you can withdraw cash up to Rs. 1000/- . But this thousand rupees is too small – they should make it ten thousands! – okay a small beginning! RBI/2009-10/105 DPSS.CO.PD.No. 147/02.14.003/ 2009-10 Dated July 22, 2009 Want to do Business in India – Go to Ludhiana or Hyderabad A World Bank Study, Doing Business in India 2009 compared business regulations across 17 Indian cities. The report focuses on local regulations that affect 7 stages in the life of a small or mid-sized domestic enterprise:
The report shows that differences in city- and state-level regulations and practices in the implementation of national-level regulations can enhance or constrain local business activity. The report suggests that cities in India can learn from each other and adopt good practices that are already working within the country.
Doing Business in India – Where is it easiest?
The Solar Eclipse – The Diamond Ring – DWARF eclipses GIANT
A diamond ring forms during the total solar eclipse on July 22, 2009. Photo taken from an Indian Air Force AN-32 at the height of 25,000 ft. The dwarf sized Moon can eclipse the Giant Sun – we should realise that a small legislative mistake can eclipse the whole reasonable base of taxation. Jurisprudentiol–Friday's cases
The Tribunal cannot give a go-bye to a patent error found in the orders of the lower authorities. – Even if not challenged - CESTAT SECTION 76 provides for a penalty on a service tax assessee who commits default simplicter in payment of the tax. Section 78, on the other hand, is a more stringent penalty provision, which provides for a harsher penalty on a service tax assessee who commits default with mens rea . Fraud, suppression, misstatement, contravention of provisions of law with intent to evade payment of duty etc. are the various elements of mens rea mentioned in the text of section 78. The lower authorities ought to have applied their mind to these features of the penal provisions. Income Tax Depreciation - Union Govt grants waiver of loan and interest - actual cost of capital assets may change prospectively - cost of assets to be reduced by sum of loan waived off for allowance of depreciation u/s 32: ITAT DEPRECIATION of capital assets is a common thread which runs through all kinds of businesses. It is significantly large in case of capital-intensive manufacturing sector. To compensate a business entity for depreciation the Income Tax Act has Sec 32. But sometimes a dispute crops up when the cost of capital assets changes. In other words, the 'actual cost' of capital assets undergoes an alteration because of subsequent developments in the business. The matching provision in the I-T Act for this head is Sec 43(1). The actual cost may change when a loan taken or granted against creation of such capital is waived off or there may be cessation of other types of liabilities linked to a block of capitals. Central Excise Appeal not filed against Assistant Commissioner's order – High Court cannot entertain writ: High Court Admittedly, as against the order impugned in this Writ Petition, the petitioner has an appeal remedy before the Commissioner of Customs and Central Excise (Appeals), which is not availed of by it. Nothing also prevented the petitioner from availing such remedy. Without availing the said remedy, the petitioner has directly approached this Court under Article 226 of the Constitution of India by way of this Writ Petition, which is not maintainable. See our columns Tomorrow for the judgements Until Tomorrow with more DDT Have a nice day. Mail your comments to vijaywrite@taxindiaonline.com |
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Service Tax