Duty Drawback w.r.t Brand Rate Fixation

Author: Sachin Bajpai – Advocate Associate, B.A. LL.B.   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 Read More

GST Implementation & Enrollment Procedure

Author: Ankita Vashistha – Advocate Associate, B.Com.(Hons.), LL.B   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 Read More

October 2016 Newsletter

FOREIGN TRADE POLICY CIRCULAR F.No.605/71/2015-DBK dated 14th Oct 2016 Rationalization of procedure in handling EO under EPCG Authorisations i) The Customs authorities are directed not to replicate verification of EO when it is already done by RA’s except in random 5% cases. ii) In case of endorsement of shipping bill or BoE or in case of non-EDI Shipping Read More

AMORTISATION COST ON MOULDS SENT THROUGH JOB WORK CHALLAN

WHAT IS MOULD? A mould is a hollowed-out block that is filled with a liquid or pliable material such as plastic, glass, metal or ceramic raw material. The liquid hardens or sets inside the mould, adopting its shape, which is called cast.   WHAT IS AMORTISATION COST? Amortized cost is that accumulated portion of the 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.

Taxability of compensation on compulsory acquisition of non-agricultural land – CBDT clears the air!

 S 2(14) of the ITA, 1961 defines Capital Asset by exempting only the Agricultural Land, that too located not in the specified urban area without any reference to the compulsory acquisition u/s 96 of RFCTLAAR Act. However, vide Circular No 36/2016 date 25th Oct 2016 the CBDT has extended the exemption by including compulsorily acquired land without any 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.

“Penalty provisions under Service Tax: Stringent or Simplified”

The Service sector being the dominant sector contributes to over 60% of India’s GDP presently. Commensurate to this, there is an increase in expansion of taxability of services with the advent of Negative List under the Service Tax regime. In tantamount to this, penalty provisions under service tax have been revamped to ensure non-discriminatory form 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.

September 2016 Newsletter

LEX TAXARE – SAPAA’s Insights FOREIGN TRADE POLICY NOTIFICATION Public Notice No.32/2015- 2020 Addition & Enhancement in MEIS Eligibility with immediate effect. Export of various goods which were not notified earlier are now eligible for MEIS Duty Reward Scrips. Reward Rates are enhanced for certain goods. CIRCULAR Policy Circular no.2/2015- 2020 Merchant exporter is eligible Read More

GST: Compensation scheme without cess: A Wayout

Introduction Goods and service tax, the major restructuring ofindirect tax system, is all set to come into effect from 1st April,2017. It will subsume various Central taxes like excise duty, service tax, countervailing duty, etc. and State taxes like Value-Added tax, octroi& entry tax, etc. Also, it will subsume all the cesses.The Presidenthas given his 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.

SVB APPEAL: A LEGAL CONUNDRUM

Special Valuation Branch (hereinafter referred as SVB) has been established by the Board for investigating the exact price of importing of goods. It was brought into picture in the year 1998 and then in 2001 certain amendments were made. On 9th Feb, 2016 the board came up with a new circular amending the previous one. 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.

August 2016 Newsletter

LEX TAXARE – SAPAA’s Insights Greetings from SAPAA! A journey of a thousand miles begins with a single step. We at SAPAA thought it’s time to start something new and trust the magic of beginnings. Here we are presenting our first Publication- Lex Taxare which brings to you the latest updates and other prominent cases. Read More