Articles

Provisions of time bar under section 11B not applicable to service tax paid under a mistaken understanding of facts.

Corporations in UAE may be taxed soon. VAT to be introduced too.

Whether the Tribunal can dismiss an appeal for non appearance?

Will the Government grab the opportunity and implement a perfect GST?

World watches Greece with bated breath.

Greece to hold a referendum on 5th July reg bail-out proposal.

Government porposes tax cuts for use of credit/debit cards.

US Official say British Government not helpful in clampdown on tax avoidance

Will Greece meet it €1.5 bn obligation to IMF by 30th June 2015 

European Commission launches "Common Consolidated Corporate Tax Base"

California Labor Commission rules Uber drivers are employees

CBDT to pursue Rs 20K Cr Cairn India tax demand

Amway Distributors get off lightly in service tax case before the CESTAT Delhi Bench

Measuring Tax Performance

The Supreme Court of India on the exceptions to "principles of natural justice"

Tribunal (Delhi) : No duty on replacement spare parts when exiting EOU Scheme even if they are "capitalized". No case of suppression here.

Supreme Court upholds validity of retroactive amendment of 1993 to s 143(1A) but says, this will apply only to evasion cases.  

Supreme Court rules that in Gujarat sales tax, if the works order is for "fabrication & installation" composition tax @ 5% under entry 5 will apply not 15% under entry 2.

Supreme Court says "interpretative notes" have no application to exemption notifications. Exemptions will apply only if conditions of the notification are fulfilled.

Will SAD exemption u/n 45/2005 apply to stock transfers from a SEZ to a DTA unit of same manufacturer? Yes, says the Authority for Advance Ruling?

Tranfer Pricing  relief for MNCs from Delhi High Court - 16th March 2015 judgement. 

Mumbai CESTAT rules that where any amount is debited for Cenvat erroneously availed, it is not covered by time-limitation u/s 11B

RBI Giovernor, Raghuram Rajan warns, don't railroad India's interest just to attract FDI.

Allahabad High Court rules that an appellate authority cannot ignore the existence of a prima facie case when considering a stay application? : 18.12.2014 Allahabad High Court : Food Corporation Of India Vs CCT Lucknow UP

Merely by affixing any price as "MRP" on the packages, it will not entitle assessment under section 4A.   

Improperly Constituted “Committee of Chief Commissioners of Central Excise” Costs Revenue its Appeal.  CCE Ahmedabad-II Vs M/s Ankit Textiles Click here to read Tribunal decision

Extented period or interest will not apply where even if excess cenvat credit was availed, the error goes unnoticed by 1st Audit but noticed by 2nd Audit. The credit is reversed. Urja Engineers Limited Vs Commissioner of Central Excise & S.T., Vadodara - Read text of CESTAT Ahd decision

Order imposes a penalty on an individual not named in show cause notice.  Tribunal drops the penalty but confirms the duty demand, interest and penalty on all except the one not named in the notice. Apparently the department has erred even in a case where the department alleges fraudulent  diversion of inputs meant for use by 100% EOU. The person preparing the documents was not been named in the notice. Can a fresh SCN be issued now? Click to read the article.

Tribunal Reverses Commr Appeals Order of 2007 which allowed retraction of a Statement 4 years later in a case involving clandestine behaviour

Cenvat Credit available even on the basis of documents which do not actually cover or accompany consignments

Can a Commissioner (Appeals) increase the penalty without notice? Commissioner (A) Delhi thinks he can! Flouts  cardinal principle of natural justice to issue a notice before enhancing the penalty.

In CIT New Delhi Vs Vatika Township Pvt. Ltd. A five judge Supreme Court Constitutional Bench dismissed IT appeals answering the questions raised in reference in an income tax case and dismissed the revenue's appeals

What are the Tax Risks Which Affect Tax Authorities? How do they deal with them?

Not furnishing the documents puts revenue in a tight spot - Matter drags on for 7 years

When clandestine removal is proved. It's likely that the evasion is not limited to the assessee alone.Vendors and buyers too may be compromised. Also other taxes like income tax, VAT, CST, service tax may also have been evaded. Does the tax  administration have a specific strategy to deal with such clandestine cases?

Shouldn't a Commissioner Appeals know what is the last date for filing appeals?: The Commissioner (Appeal-III), Kolkata dismissed the appeal as filed late. It was filed on Monday 10th January, 2011 instead of 8th January which was a Saturday. Under General Clauses Act, the next working day is considered within time. CESTAT, Kolkata allowed the appeal in Star Battery Ltd. Vs. Commissioner of Central Excise, Kolkata-IV on 11th August 2014.

When will the Department stop disputing everything?: The credit on common inputs was reversed. There was no dispute about the credit quantum reversed. The exemption was available and claimed on portable water pumps correctly. The Commissioner held in favour of Honda Siel Power Products Ltd (HSPPL) and dropped the demand notice following Hon’ble Supreme Court in Chandrapur Magnet Wires (P) Ltd. Despite all this the Revenue prefers appeal to Tribunal and loses.

Why we still don't have a GST?

Affixing any price as MRP will not entitle assessment under section 4A.  Bajaj Food Products P Ltd., Arvind Maheshwari, AD Bajaj Vs CCE, Rohtak

RBI sets out its vision in Annual Report for year ended June 2014. Report includes planned initiatives such as introduction of a pan-India 'any-time, any-where' bill payment system, plastic currency notes etc.

In an order dated 22nd August, 2014 SEBI holds PACL a "Collective Investment Scheme" (CIS).  Orders refund of Rs 49 K Crores within 3 months by PACL. Download SEBI Order

A four Judge Bench of the Supreme Court presided by Chief Justice R.M. Lodha dismissed on 23rd July 2014 a criminal contempt petition filed by Dr. Subramanian Swamy against Mr Arun Shourie for his editorial dated 13th August 1990 titled “If shame had survived” in the Indian Express.