April 2017 Newsletter

CENTRAL EXCISE  Rule 5, CCR 2004, provides for refund of unutilized accumulated CENVAT credit against export of goods and the rule does not discriminate between physical exports out of India and deemed exports made within Indian territory. Therefore, deemed exports are also eligible for refund – CCE V. Benzo Chem Industries Pvt. Ltd – 2017 Read More

March 2017 Newsletter

SERVICE TAX Exemption - The ST exemption under Entry 9(b) of MEN for services provided to educational institution is applicable only to Pre-school education institution and higher secondary schools w.e.f from 1st April 2017 –Notification No. 10/2017-Service Tax, dated 8th March 2017 Exemption – Exemption available to service provider on Online Information Data Access and Read More

February 2017 Newsletter

CENTRAL EXCISE  Where the goods were manufactured and sent for test. In terms of Rule 16(2) of Central Excise Rules, 2002, the process carried out  on the return of goods to premises does not amount to manufacture – Skoda Auto India Pvt Ltd Vs CCE – 2017 (2) TMI 259. Even though there is a Read More

January 2017 Newsletter

CENTRAL EXCISE Transfer of ownership of captive power plant installed within the factory shall not be deemed as removal. The term “removal” contemplates physical removal. Precedent referred J.K. cotton and spinning weaving mills Ltd. 1987(10) TMI 51 SC – CCE Vs Bhilai Steel Plant – 2017 (1) TMI 293 CESTAT New Delhi. In case of Read More

Finance Bill 2017 – Budget Updates

Disclaimer:  The views and opinions expressed in this article are those of the authors. All data and information provided on this site is for informational purposes only. sapaa.in makes no representations as to accuracy, completeness, correctness or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

December 2016 Newsletter

FOREIGN TRADE POLICY CASES Installation of Capital Goods under EPCG Scheme Beetal Teletech Limited V. CC, New Delhi – 2016 (12) TMI 633 Issue: In this case, the petitioner holds the letter from DGFT for EO fulfilment. The Revenue denies the benefit under Notification no.110/95 contending that the goods exported are not manufactured in a Read More

November 2016 Newsletter

FOREIGN TRADE POLICY CIRCULARS Circular No. 50/2016-Customs   All industry rate of Duty Drawback The revised AIR Rate of Duty Drawback is notified which came into force from 15th Nov 2016. (Refer: Article) CASES Duty Drawback Toyo Ink India Pvt. Ltd. Vs CC New Delhi 2016 (11) TMI 138 Issue: Benefit of Duty Drawback under All Industry Read More

Is Sec 270A efficient to replace Sec 271(1)(c)?

-by Advocates – K. Senguttuvan and SubathraManoharan Introduction: It is not a new fact that Sec 270A and Sec 270AA has been inserted to the Income Tax Act thereby replacing Sec 271. The motive behind bringing these new Sections into force was to reduce the litigation between the tax payer and the revenue authorities, as Read More

Disclaimer:  The views and opinions expressed in this article are those of the authors. All data and information provided on this site is for informational purposes only. sapaa.in makes no representations as to accuracy, completeness, correctness or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

Uncertainty in Beneficiary provisions in the absence of proper definitions

-by Advocates  – K. Senguttuvan and SubathraManoharan Introduction: 80JJAA was introduced with the sole object of encouraging employers to widen the pool of job opportunities by giving deduction in respect of additional employee cost incurred in the course of such business in the previous year, for three assessment years including the assessment year relevant to Read More

Disclaimer:  The views and opinions expressed in this article are those of the authors. All data and information provided on this site is for informational purposes only. sapaa.in makes no representations as to accuracy, completeness, correctness or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.