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Vol. XIII Issue no.55
Chennai, Jul 23 , 2017
Bar coding on Mono-carton to be effective from April 2015• ADD on Sodium Nitrite from EU imposed•Exports to Iran eligible for incentives• Rates of exchange notified effective August 8•Tariff values notified•ADD on PTA imposed
New advisory to end 'inspector raj'
New Delhi, July 8:   To usher in greater ease of doing business, the government has taken steps to rein in the notorious "inspector raj". In an advisory to all ministries which is aimed to check fishing expeditions by inspectors, the department of industrial policy and promotion (DIPP) has
India imposes anti-dumping duty on solar cell imports
New Delhi, May 24:   India has imposed dumping duty on solar gear imported from the US, China, Malaysia and Taiwan. The Directorate General of Anti-Dumping (DGAD) in its final findings recommended that anti-dumping duties of up to $0.48 per watt on solar cells coming from the US and $0.81
ADD mooted on alloy wheels import
New Delhi, January 23;   Government is likely to impose anti-dumping duty on a certain type of aluminium alloy auto wheels imported from China, Thailand and Korea, to protect domestic players from below-cost imports.  In its preliminary findings, the Directorate General of Anti-dumpi
Service tax applicable on transport and storage of rice and cotton
Mumbai, January 20:  The prices of rice and cotton that's ginned and baled are likely to rise as their transport and storage have been deemed ineligible for exemption from service tax by the finance ministry. They are not on the negative list of items on which 12.36% service tax doesn't have t
Import duty on edible oil raised to 10 per cent
New Delhi, January 10: : India, the world's leading buyer of edible oils, has increased the import duty on refined edible oil. On Thursday, the Cabinet Committee on Economic Affairs (CCEA) considered the proposal to raise duty to 10 per cent giving support to the domestic industry and farmers. The
Govt may delay exporters' duty refunds
New Delhi, December 31:   With the finance ministry being relentless about keeping tax revenues on course so that the fiscal deficit is contained at budgeted levels, exporters could be the next to feel the pinch after oil marketing and fertiliser companies.  Exporters are unlikely to
Government okays 18000 additional posts in indirect tax wing
New Delhi, December 23:   Over 18,000 additional posts have been sanctioned in the Central Board of Excise and Customs (CBEC), the government wing tasked with the collection of service tax, excise and customs duty, as part of a cadre restructuring plan. The Union Cabinet recently gave its
Note on excise treatment of goods sold at discount by Jan 15
New Delhi, December 17:   Encouraged by the decision by the Supreme Court, tax authorities will come out with a circular on excise duty treatment for goods sold on discount next month. In a case of Chief Commission of Excise (Mumbai) versus Fiat India, the apex court held that where produ
Filing of appeal: Department permitted to agitate on reduced monetary limit
New Delhi, December 17:   The Central Board of Excise and Customs has issued instructions to the field formations in cases where a judgment accepted for reasons of low amount should not be relied upon by the appellate forum and that the Department is at liberty to agitate the issue in subs
E-payment must for excise and service tax of Rs 1 lakh
New Delhi, November 27:   Assessees paying excise duty and service tax of Rs 1 lakh will have to mandatorily pay the levies electronically with effect from January. The earlier ceiling for mandatory e-filing was Rs 10 lakh. "From January 1, 2014, a manufacturer or a Service Tax payer who
Thailand agrees to levy import duty on gold jewellery
New Delhi, October 24:   Thailand has agreed to pay import taxes on gold and gold jewellery being shipped to India. This puts an end to acrimony between the two countries over third country gold coming into India at concessional duties through Thailand under the bilateral free trade agreem
Cabinet approves setting up of six new CESTAT benches
New Delhi, October 17:  After six cities, Chandigarh, Allahabad and Hyderabad will also now have CESTAT benches, a move aimed at speedy disposal of cases related to Customs, Excise and Service Tax. The Union Cabinet today gave its approval for setting up six additional benches of the Customs,
Finance Ministry detects about Rs 1000 cr duty evasion
New Delhi, October 14:   The Finance Ministry has detected customs and excise duty evasion of at least Rs 1,000 crore between January and July. As many as 229 cases of customs duty evasion and 255 cases of excise duty evasion were detected by economic intelligence officials during the per
April-September 2013 Service Tax Return is ready
New Delhi, Oct.1:  Service Tax Return (ST-3) for the period April -September' 13 is now available in ACES for e-filing by the assesses in both offline and online version. The last date of filing the ST-3 return for the said period is 25th October, 2013. The assesses can file return either onlin
Hike in duty on refined edible oil on the anvil
Mumbai, Sept.21:   The government will take a call on whether to increase import duty on refined edible oil or not in the next 10-15 days, Food and Consumer Affairs Minister K V Thomas said.  "We are looking at the representation submitted by the Solvent Extractors Association on incr
Correction in Exchange rate of Kenya Shilling
New Delhi, Sept.24:   The CBEC has corrected an entry in the exchange rate pertaining to Kenya Shilling, vide Corrigendum dated September 23, 2013.  The entry under imported goods may be read as “0.7440” and for export goods “0.7225” in the Notification No. 10/
Anti-dumping probe on electrical insulators
New Delhi, Sept. 13:   The Designated Authority in the Commerce Ministry has initiated an anti-dumping probe on imports of ‘electrical insulators’ from China. These insulators are typically used in bushings, circuit breakers, transformers, power transmissions and distribution l
Services by NSDC exempted from service tax
New Delhi, Sept.11:   The Ministry of Finance has granted exemption to any services provided by the National Skill Development Corporation (NSDC) from levy of service tax, vide Notification No. 13/2013-Service Tax dated September 10, 2013. Ministry of Finance (Department of Revenue)No
ADD on import of bulk drug from EU on the anvil
New Delhi, Sep.4:   The government may impose anti-dumping duty of up to USD 9.03 per kg on a raw material that is imported from a few European countries and is used in manufacture of drugs, to protect domestic players. In its findings, the Directorate General of Anti-dumping and Allied D
FinMin to publicise amnesty scheme for Service tax defaulters
New Delhi, Sept.1:   Buoyed by initial response from service tax defaulters declaring to pay Rs 650 crore to the government, the Finance Ministry has decided to publicise its first-of-its-kind amnesty scheme more on various visual and print media platforms to encourage others. It has star
Customs moves to blunt gold imports
Kolkata, August 26:   After the Reserve Bank's 20-80 principle , customs is set to make life tougher for gold jewellers. In a draft notification, which has been circulated to the gold trade, the customs department is insisting that fresh consignments of gold will be imported only after the
Tax Administration Commission to be set up
New Delhi, August 13:   The Union Cabinet today approved the proposal for setting up of the Tax Administration Reform Commission (TARC).  The Commission will consist of a Chairman, two full-time members and four part-time members, of which at least will be from the private sector. Fi
Import duty on precious metals hiked to 10%
New Delhi, August 13:   The Government raised the import duty on gold, silver and platinum to 10 per cent on Tuesday.  The import duty on gold and platinum was earlier 8 per cent and on silver, 6 per cent. The Government expects to earn Rs 4,830 crore from the duty hike in the remain
Ministry bats for doubling BCD on imported power gear
New Delhi, August 9:   The Heavy Industries Ministry has sought doubling of basic customs duty on power generation equipment, as advised by the Arun Maira Committee. Last year, the Government had decided to impose import duty on generation equipment for mega power projects and ultra mega
Salary earners upto Rs 5 lakh need to file I-T return: CBDT
New Delhi, July 22:   Unlike the past two years, salaried persons earning up to Rs 5 lakh annually will have to file income tax returns, CBDT said today. The Central Board of Direct Taxes (CBDT) had exempted salaried employees having total income of upto Rs 5 lakh including income from ot
HC quashes notification to collect Service Tax from Aircraft Engg Institutes
New Delhi, May 21:   The Delhi High Court today held that Service Tax cannot be levied from Aircraft Engineering Institutes which award aircraft maintenance engineering licences. A bench comprising Chief Justice D Murugesan and Justice Rajiv Sahai Endlaw also quashed show cause notices is
Indirect tax collection up 3.3% in April
New Delhi, May 15:   Indirect tax collection in April, the first month of the 2013-14 fiscal, grew by a meagre 3.3 per cent to Rs 33,684 crore with excise duty collection declining 14.7 per cent year-on-year. Customs duty collection grew by 12.8 per cent to Rs 13,083, while service tax co
Excise duty collections dips 14% in April
New Delhi, May 14:   Excise duty collections have taken a big knock in the first month of the new fiscal, as companies took credit for higher tax paid in the last month of 2012-13 to help government meet fiscal deficit target for the year. While the overall indirect taxes grew by a meager
Govt imposes import duty on steel and aluminium
New Delhi, May 11:  The government has imposed 2.5 per cent import duty on various types of scraps - melting steel, stainless steel and aluminium scraps, and has withdrawn exemption of special additional customs duty on brass scrap. The measures were taken through two different notifications i
CBEC extends date of e-filing of ST return
New Delhi, April 30:   CBEC extends the last date of e-filing of Service Tax Return (ST 3) for the period October, 2012 to March, 2013 from 25th April to 31st August, 2013 vide CBEC’s Order No 3/2013-ServiceTax dated 23-4-2013. The return utility for this period is expected to be ma
Import tariff value of gold hiked to $472/10 grams
New Delhi, April 28:   The Government has raised the tariff value of gold to $472 per 10 grams on account of a volatile price trend in global markets. Tariff value is the base price on which the Customs duty is determined to prevent under—invoicing. It was only 10 days back that tar
Import duty on rubber to be increased soon: Anand Sharma
Thiruvananthapuram, April 26:   Accepting the long- pending demand of Kerala government and cultivators in the state, the Centre has decided to increase the import duty on rubber from Rs 20 to Rs 34 per kg considering the 'volatility' in the price of the commodity in the domestic market.
2% excise duty hike to rake in Rs 40k crore
New Delhi, February 13:  Be prepared for a price hike of all manufactured goods from cars to refrigerators as the government is weighing the option of hiking excise duty on manufactured goods and services from 12 to 14 per cent. The move, as part of Budget proposals for 2013-14, is expected to
HC stays Board Circular on recovery of dues beyond 30 days of appeal
New Delhi, February 8:   The Bombay High Court has put on hold implementation of a directive of the Central Board of Excise and Customs that allowed immediate recovery of tax dues in cases where an assessee's appeal has not been heard within 30 days of the demand being raised. "The stay a
Govt to re-impose Customs duty on crude edible oil
New Delhi, January 17:   Buckling under pressure from the domestic edible oil sector, the Government has decided to impose a 2.5 per cent duty on imports of crude edible oils. The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved the levy of import duty, which has been don
Govt imposes 2.5% import duty on crude edible oil
New Delhi, January 17:   The Government today imposed a 2.5 per cent import duty on crude edible oil to protect domestic farmers, but kept the duties unchanged on refined cooking oil fearing a hike in retail prices. The decision was taken at the Cabinet Committee on Economic Affairs (CCEA
Excise duty on DVDs quashed
New Delhi, January 15:   A division bench of the Delhi High Court last week quashed the showcause notice issued by excise authorities to Siddharth Optical Disc Ltd. The case against the company was that during the process of manufacturing of pre-recorded audio compact discs, video compact
International Customs Day to be celebrated on Feb.5
New Delhi, December 27:  The official inauguration session of the Council was held in Brussels on 26th January 1953 with the participation of representatives of 17 countries. In 1994 the Customs Co-operation Council adopted a new name - World Customs Organization (WCO). On 26th January every ye
Larger bench to decide on Cenvat
New Delhi, December 17:  A two-judge bench of the Supreme Court last week referred to a larger bench a question involving cenvat credit, as there was difference in the views of two benches. In this case, Commissioner of Central Excise vs Gujarat Narmada Valley Fertilisers Co Ltd, the company us
Decision on import duty of sugar soon: Thomas
New Delhi, December 14:    "We are on our way towards framing policies which can help export surplus produce. We should benchmark a certain quantity every year to create an image in the global market that we are a consistent and reliable supplier," Food and Consumer Affairs Minister K
Rs 69465 crore service tax collected in April-Oct 2012
New Delhi, November 29:   Service tax collection during the first seven months of this fiscal stood at Rs 69,465 crore, Finance Minister P Chidambaram said in a written reply to the Rajya Sabha. "With effect from April 4, 2011, failure to pay the amount collected as service tax has been m
Handling of cargo Resolution modified
New Delhi, November 19:   The Ministry of Finance has announced certain modifications in the Handling of Cargo in Customs Areas Regulations, 2009, vide Notification No. 104/2012-Cus.(NT) dated November 16, 2012.  It is relevant to mention that the Board has issued fresh guidelines fo
Modified ST Returns updated
New Delhi, November 14:  The Ministry of Finance has stated that the modified version of the Service Tax Return (ST3) for the quarter Apr-Jun,2012 is now available for uploading to ACES . It is available in 'DOWNLOADS' section in offline version only and not online version. In view of the imple
Withdrawal of duty drawback amounts to new levy: Delhi HC
New Delhi, November 9:  In a competitive bidding, when the winner of a contract quotes low taking into account the comforting fact that it is eligible for duty drawback and on the assurance that any new levy imposed during the course of execution of the contract would be to the contractee&rsquo
Excise relief for garment designers
New Delhi, October 22:  The Delhi High Court last week dismissed the appeal of Commissioner of Central Excise and accepted the argument of Diwan Sahib Fashions Ltd and other readymade garment manufacturers ruling that they were not liable to pay excise duty in respect of garments stitched by th
Govt extends service tax returns deadline by a month
New Delhi, October 21:   The Revenue Department has extended the deadline by one month to November 25 for filing of service tax returns for the April-June quarter, as it has not been able to provide electronic return form in time. The earlier last date to file the return was October 25.
Service tax increased in AC and freight on Railways
New Delhi, September 27:   With the exit of Trinamool Congress from UPA, Finance Ministry has decided to levy service tax on AC and freight services fares, which are set to increase by 3.7 per cent from October 1. Passengers traveling in AC classes were brought under service tax from July
Definitive ADD imposed on Resin import
New Delhi, September 24:   The Ministry of Finance has imposed definitive anti-dumping duty (ADD) on import of Resin or other organic substances bonded wood or ligneous fibre boards of thickness below 6mm, except insulation boards, laminated fibre boards and boards which are not bonded eit
FM announces further reforms
New Delhi, September 21:   In an attempt to lighten the burden on aam aadmi (common man), cheer corporates and boost the markets, Finance Minister P Chidambaram announced a slew of measures offering tax breaks on Friday. Chidambaram’s first announcement related to waiver of import a
Excise demand on cars set aside
New Delhi, September 17:  A division bench of the Bombay high court has set aside two circulars of the excise authorities issued in July, 2002 and December, 2012 to the extent they state that cost of pre-delivery inspection (PDI) and free after sales services incurred by the dealers are includa
Excise duty leviable on television parts
New Delhi, September 17:   The Supreme Court last week dismissed the appeal of Salora International Ltd, manufacturer of various components of television sets, and ruled that it was liable to pay excise duty on the units sent to its branches in other parts of the country. The company manuf
Indirect tax mop up rises 27% in April-Aug
New Delhi, September 14:   Indirect tax collection during the first five months of this fiscal rose 27 per cent to Rs 1.81 lakh crore compared to the corresponding period last fiscal. In the April-August period last year, the total indirect tax collection stood at Rs 1.43 lakh crore. The
Rs 86k crore indirect tax revenue locked up in litigation: Govt.
New Delhi, September 5:   The government today informed Parliament that Rs 86,000 crore in indirect taxes is locked up in litigation.  "An amount of Rs 86,000 crore indirect tax revenue of Central Board of Excise and Customs has been locked up in litigation," Minister of State for Fin
Safeguard duty recommended on carbon black imports
New Delhi, August 6:   The Director-General (Safeguards) has recommended imposition of specific safeguard duty on carbon black imports into the country on the basis of a petition filed by the Association of Carbon Black Manufacturers along with two of its member companies — Phillips
CBEC’s authorised economic operator programme takes wings
New Delhi, July 18:   The Central Board of Excise and Customs (CBEC) has awarded the first set of authorised economic operator (AEO) certificates to three different entities.  The AEO certificates were handed out to LG Electronics, Ennore Container Terminal and IBM by the CBEC Chairma
Indirect tax collection up 13.8 per cent in June quarter
New Delhi, July 18:   Indirect tax collections during the April-June period rose by 13.8 per cent to over Rs 1.07 lakh crore, slower than the targeted 27 per cent growth for the entire fiscal. "In the April-June quarter with a receipt of Rs 1,07,959 crore, we have achieved a growth of 13.
Indirect Tax collection spurts 13.8% in April-June
New Delhi, July 10:   Indirect tax collections during the April—June period rose by 13.8 per cent to over Rs 1.07 lakh crore, much slower than the targeted 27 per cent growth for this fiscal. “The overall indirect tax figure for April—June 2012 stood at Rs 1,07,959 crore
Postings of Commissioners (C&CE)
The Central Board of Excise and Customs has announced postings/transfers of officers in the cadre of Commissioner, vide its Order No.110/2012 dated June 25, 2012.  The following list covers such postings in Tamil Nadu, Kerala and Karnataka. Chennai Commissionerates: Avadesh K Sinsh , Comm
14 more services exempted from tax
New Delhi, June 20:   Advocates or law firms with an annual turnover up to Rs 10 lakh, and sale of companies will be exempted from service tax. These, along with 12 other services, figure in the new list of exemptions announced by the Finance Ministry. The Finance Minister, Mr Pranab Mukh
April-May excise collections up 16%
New Delhi, June 12:   The Central Board of Excise and Custom (CBEC) has said that excise collection has grown over 17 per cent during April-May 2012.  According to the board, “The growth in Central excise revenue for May 2012 is 16.2 per cent and the overall growth in Central Ex
Transfer / Postings of Commissioners in Chennai Commissionerates
Mr. Rajendran, Commissioner (Customs), Turicorin has been transferred  to take over the post of Commissioner, Chennai Port (Export), vice Alok Shukla, transferred as Joint CDR, CESTATMr. Naresh Penumaka, Commissioner, LTU, Chennai transferred as Addl. DG, NACEN RTI, Mumbai.Rajesh Sodhi, on retu
Presidential assent for Finance Bill
New Delhi, May 29:   The Finance Bill 2012 has received Presidential assent on Monday. With this move, the Finance Bill has now been enacted into law. This would imply that Government can go ahead and garner tax revenues from all indirect transfers of shares including a tidy pile from the
April indirect tax collection up 10.4%
New Delhi, May 17:   Collection of indirect taxes jumped by 10.4 per cent to Rs 33,045 crore in the first month of the current fiscal on the back of increase in excise duty and service tax rates. The indirect tax - excise duty, customs and service tax - collection had totalled Rs 29,936 c
Tax relief for imported & company-owned cars
Mumbai, May 17:   MUMBAI: In a relief for consumers, the cabinet on Wednesday decided to limit the tax rate on imported vehicles and company-owned cars to 20%. Following a decision to hike tax on petrol and diesel cars by 2% and 4%, respectively, the tax rate on the purchase of imported a
Finance Bill Amendments: FM announces some changes
New Delhi, May 7:  The Finance Minister Pranab Mukherjee on Monday announced various amendments in the Finance Bill proposed during the Union Budget 2012-13.Seeking to put to rest to both Indian and foreign investors Mukherjee delayed the application of GAAR by a year. Here are some o
Exemption granted to removal of energy from power projects modified
New Delhi, April 21:   The Ministry of Finance has announced modification in General Exemption Notification No.17/2012-Customs dated March 17, 2012 in respect of electrical energy removed from SEZ to DTA or non processing areas of Special Economic Zone, specified at Sl.No. 145 of the said
Finmin invites suggestions for common code for Excise and Service tax
New Delhi, April 21:   The Ministry of Finance has invited suggestions to develop a draft Common Code for central excise and service tax that can be implemented under the present Constitutional scheme, keeping however, in view the challenges in the context of the impending goods and Servic
GST may happen from April 1, 2013
New Delhi, April 17:   For the first time, the Empowered Committee of State Finance Ministers has indicated that the Goods and Services Tax (GST) may be implemented by April 1, 2013. This indication comes after the Centre said it is willing to consider States' demand on the issue of compen
Govt extends anti-dumping duty on tyres from China
New Delhi, April 10:  The government has extended the anti-dumping duty levied on imports of non-radial tyres from China and Thailand for another six months.  The finance ministry has extended the validity of the anti-dumping duty on such tyres and tubes which had lapsed on October 8 last
Excise Duty and service tax evasion detected
New Delhi, April 10:   Revenue department detected central excise and service tax evasion of over Rs 13,620 crore in the 11-month period till February of 2011-12 fiscal.    Besides, during the investigation, central excise duty and service tax amounting to Rs. 972.69 crore a
Exporters must pay additional duty in cash for refunds: CBEC
New Delhi, April 1:   The Central Board of Excise and Customs has said that exporters should pay their Special Additional Duty of customs in cash if they want a refund.  SAD is levied on imports by the Central Government to give a level playing field to domestic industry. The 4 per ce
CBI arrests customs official on bribery charge
Chennai, March 29:   The Central Bureau of Investigation, Chennai has registered a case against a Supdt. of Customs (presently Authorised Officer, ELCOT Special Economic Zone, Sholinganallur, Chennai) U/s 7 of Prevention of Corruption Act, 1988 on the allegation that he demanded a sum of R
Excise Duty exemption on polyester fabric upheld
New Delhi, April 2:   The Supreme Court has dismissed the appeal of the commissioner of central excise challenging the order of the Customs, Excise, Service Tax Tribunal, Surat, which had granted exemption to M/s Favourite Industries Co, engaged in manufacture of processed polyester grey m
CBEC hopeful of meeting indirect tax target for FY12
Mumbai, March 25:    The government has fixed a target of Rs 3.92 lakh crore for indirect tax collection for the outgoing fiscal.  According to the latest figures, indirect tax mop-up jumped 14.6% in the April-February period to Rs 3.49 lakh crore. Of this, Rs 1.29 lakh crore cam
Import tariff value of gold cut to $530/10g
New Delhi, March 23:   The Government today reduced the import tariff value of gold from $573 per 10 grams to $530 per 10 grams, while the value was kept unchanged at $1,036 a kg for silver imports. The tariff value, which is released fortnightly, is the base price on which the Customs du
CBEC invites inputs on reducing litigation
New Delhi, March 11:    In a communication posted on the CBEC’s website, the Board has said: “Rising litigation with taxpayers is matter of serious concern for the Government. A need for reducing the litigation has been emphasized by the Finance Minister on various occasio
CBEC to issue bio-metric cards to custom house agents
Mumbai, February 25:   The Central Board of Excise and Customs (CBEC) said it will issue bio-metric cards to custom house agents to check frauds and misuse of services. "Bio-metric smart cards will be issued first in Mumbai in all the three Customs zones. Once this is rolled out, a fraudu
Service tax disputes body mooted Service tax disputes body mooted Service tax disputes body mooted Service tax disputes body mooted
New Delhi, February 15:   Rising instances of disputes over service tax claims has prompted the government to consider setting up a settlement commission on the lines of the ones in existence for income-tax and excise & customs, according to a report in FE. An announcement to this effe
Govt may bring more services in tax net
New Delhi, February 6:   The government is likely to bring more services in the tax net to raise revenues and may introduce a negative list in the forthcoming Budget.The government is expected keep 22 services in the negative list and impose 10 per cent tax on the rest, sources said, add
Corruption issue returns to haunt Customs dept
New Delhi, February 3:   The issue of corruption charges has returned to haunt the Customs and central excise department on a day when finance minister Pranab Mukherjee told its officers to facilitate legitimate trade instead of creating administrative burden on them.The alleged graft ch
Excise duty and service tax may be hiked in this Budget
New Delhi, January 31:   General excise duty and service tax may be hiked to the 2008-level in the Budget. Also, the fiscal deficit target for 2012-13 expected to be kept around 5 per cent.  “The blueprint for the Budget is being prepared with the aim of fiscal consolidation.
DTC likely to be delayed by a year
New Delhi, January 26:  The Direct Taxes Code (DTC), which will replace the Income-Tax Act, 1961, will miss the April 2012 deadline and is now likely to be implemented from April next year. The new regime has been delayed as the DTC Bill is still with the Parliamentary standing committee on f
Import duty on thermal coal may go
New Delhi, January 27:   Its tight fiscal position notwithstanding, the government may withdraw import duty on thermal coal to soften the impact of the high global prices on electricity consumers. Sources said finance minister Pranab Mukherjee may propose withdrawal of the duty in the fo
ADD on CTF imports from China continued
New Delhi, January 14:   The Ministry of Finance has issued Notification No. 5/2012-Customs (ADD) dated January 13, 2012, enabling the Government to continue the imposition of anti-dumping duty on imports of Cellophane Transparent Film (CTF) from PR of China.   The decision has b
ADD on Phosphoric Acid from Israel and Taiwan levied
New Delhi, January 14:   Based on recommendation of the Designated Authority that imports Phosphoric Acid of all grades and all concentrations (excluding Agriculture/ Fertilizer Grade),  originating in, or exported from, Israel and Taiwan into India, have caused material injury to the
ADD on Nylon Filament Yarn continued
New Delhi, January 14:   The Ministry of Finance has decided to continue levy of anti-dumping duty (ADD) on Nylon Filament Yarn, originating in, or exported from, People’s Republic of China,  Chinese Taipei, Malaysia, Thailand and Korea RP, and imported into India, followin
ADD on Chinese Silk fabrics continued
New Delhi, January 14:   The Government has decided to continue imposition of anti-dumping duty (ADD) on Silk fabrics based on weight range from 20 to 100 gms per metre, originating in or exported from PR of China, and imported into India, vide Notification No. 2/2012-Customs (ADD) dated J
CBI registers case against 3 Customs officials
New Delhi  January 11:   The Central Bureau of Investigation has registered a case U/s 120 B r/w 409, 477A IPC and & Sec.13(2) r/w 13(1)(c) & (d) of PC Act, 1988 against Assistant Commissioner(Customs), Supdt. of Customs, Preventive Officer(Customs), all of Air Cargo Complex,
Indirect tax collection on target
New Delhi, January 11:   The government seems on course to achieve, or even exceed marginally, its indirect taxes collections target for the current financial year despite the economic slowdown. With a quarter to go, indirect tax collections have touched 72% of the budgeted Rs 3.97 lakh cr
Direct tax collection up 8.36%
New Delhi, January 7:  The net direct tax collection rose just 8.36% to R3.23 lakh crore in the first three quarters of the current financial year, confirming that overall estimate for 2011-12 is unlikely to be met. The Centre has targeted to raise R5.32 lakh crore in this fiscal through direct
Refund of e-payment of service tax to exporters
New Delhi, January 4:  The Ministry of Finance has issued Press Note on the introduction of  a simplified scheme for the refund of service tax paid on services used for export of goods on the lines of drawback of duties.  An announcement to this effect was made by Hon’ble Financ
Refund of SAD : Cost Accountant authorized to issue certificate
New Delhi, January 5:  As a measure to facilitate the trade, the Central Board of Excise and Customs has  approved the amendment of the Circular No.18/2010 Customs dated 08.07.2010 so as to authorize Statutory Auditors/ Cost Accountants/ Chartered Accountants to issue a certificate, certif
Export duty on iron ore lumps, fines hiked to 30%
New Delhi, January 2:   The Finance Ministry on Monday hiked the export duty on iron ore lumps and fines to 30 per cent, effective December 30, 2011. In the 2011-12 Budget, the Government had increased the export duty on both iron ore fines and lumps to 20 per cent.Indian iron ore export
Chennai Customs implements UB clearance under EDI
Chennai, December 27:   In order to speed up clearance of passengers’ Unaccompanied Baggage at Chennai, Chennai Customs has decided to extend EDI to the clearance operation of Unaccompanied Baggage.  The system has started with effect from December 26, 2011, according to Chennai
New postings in Chennai Customs announced
New Delhi, December 23:  The Central Board of Excise and Customs has entrusted Shri Sanjay K. Agarwal, Commissioner (Airport & ACC), Customs, Chennai to hold additional charge of Port (Import), Chennai Customs, vide Office Order No. 253/2011 dated December 21, 2011.  Shri P. Ayyam Per
Imported wine, Scotch, cars set to cost less
New Delhi, December 23:   There is something to cheer in the New Year. The government appears set to slash import duty on wines and spirits imported from Europe to under 50% from 150% at present, in a move that will make French wine and Scotch whisky more attractive to tipplers. Sources t
DGS to investigate on carbon black import from China
New Delhi, December 18:   Following a request by the Association of Carbon Black Manufactures on behalf of two of its member companies Phillips Carbon Black Limited (Kolkata) and Hi-Tech Carbon (Sonebhadra), the government has decided to investigate whether the increased import of carbon b
Reallocation of Chennai Customs Commissioners
New Delhi, December 17:   Shri Alok Shukla, Commissioner, Customs, Port (Import), Chennai has been transferred to hold the post of Commissioner, Customs, Port (Export), Chennai.  Shri S. Kannan, Commissioner, Customs Port (Export), Chennai will hold the charge of Commissioner (Audit)
PowerMin for 14 pc import duty on power equipment
New Delhi, December 11:   The government has circulated a draft Cabinet note proposing imposition of 14 per cent duty on imports of power equipment, a proposal aimed at providing a level-playing field to domestic manufacturers like BHEL and Larsen & Toubro. "We sent the draft note to
Indirect tax collections record 16.8% increase in April-Nov
New Delhi, December 9:   The Centre's indirect tax collections continue to show a robust growth despite a big revenue sacrifice since late June this year due to significant duty reduction in crude and petroleum products. Total indirect tax receipts have registered 16.8 per cent increase i
Diesel cess proposed to help loss-laden motor insurers
New Delhi, December 7:   Officials of two ministries are contemplating a cess on diesel to cover the cost of third-party motor insurance for commercial vehicles, as a market-based solution is proving elusive. General insurance companies are unable to charge the premium to cover the claims
New Member, CBEC appointed
New Delhi, December 2:  Ms. Shanti Sundharam, 1977 batch of IRS, has been appointed as Member (L&J), Central Board of Excise and Customs against the vacancy arising out of the superannuation of Shri Rajesh Dhingra on November 30, 2011. The Ministry of Finance has issued Order No. 321/2011 d
Imported Pneumatic tyres to bear BIS Standard Mark
New Delhi, December 2:   The Central Board of Excise and Customs has instructed that the field formations may verify BIS Standard Mark to ensure before clearance that imported pneumatic tyres (which include pneumatic tubes) adhere to the specified standard in terms of t
Direct tax collection poor at 40%
New Delhi, November 22:   The government's fiscal deficit target seems to be in fresh danger, with direct tax collections which contribute more than half of the central government's revenue being only 40% of the set target in the last eight months. The Finance Ministry set annual direct t
Demand for excise duty on caps of collapsible tubes quashed
New Delhi, November 21:  If caps for collapsible tubes of a product are manufactured separately by a different firm, the value of the caps will not form part of the assessable value of the tubes manufactured for central excise purposes. In this case, Essel Propack Ltd vs Commissioner of Central
Fresh services likely to come under service tax net
New Delhi, November 18:   The Central Board of Excise and Customs has placed on its website a revised concept paper on taxation of services based on the negative list.  Any comments, suggestions or feedback may be given by December 15, 2011 to Shri Shobhit Jain, OSD (TRU) at shobhit.j
CBEC to hire 28k employees to improve operations
New Delhi, November 13:  With an aim to enhance its tax administration and prevent evasion, the Central Board of Excise and Customs (CBEC) has decided to hire 28,360 personnel, including officers. "The proposal is at an advanced stage of consideration by the government and it is expected to re
Indirect tax collections rise 18.5% during April-October
New Delhi, November 11:   The Finance Ministry announced an over 18 per cent increase in indirect taxes collections during April-October. More importantly, the collection of excise duty has once again turned positive. “We need 15 per cent growth for achieving the revised target of o
Refund of excess credit: CBEC proposes measures to tackle problems
New Delhi, October 30:  In order to streamline the process of sanctioning of refund claims, mainly arising on account of service tax borne on input services that have gone into exports of services in terms of notification no. 5/2006, the Central Board of Excise and Customs has posted in its web
Government ends safeguard probe on aluminium imports from China
New Delhi, October 30:   The Revenue Department has terminated review of safeguard duty on import of certain aluminium products from China, as the domestic industry did not press for continuation of the levy. "The review safeguard investigation...concerning imports of aluminium flat rolle
DRI unearths custom duty evasion of Rs 50 lakh
Jamnagar, October 27:   The Directorate of Revenue Intelligence (DRI) has unearthed a case of undervaluation through bogus billing at Sikka port in Gujarat, involving duty evasion of Rs 50 lakh.  "Customs duty of Rs 50 lakh has been realized from a Mumbai-based marine company, which,
Safeguard duty at 10% ad valorem on Phthalic Anhydride proposed
New Delhi, September 28:  The Director-General (Safeguards) has proposed an interim safeguard duty on the import of Phthalic Anhydride (PAN) from South Korea, Israel and Taiwan, widely used to manufacture synthetic resins which act as binders in paint products, media report says. In response t
Government hints at dumping duty on Chinese electrical goods
Mumbai, September 27:   The government is considering imposing some duty on electrical equipment imports from China to save domestic manufacturers from cheaper shipments, Heavy Industries & Public Enterprises Minister Praful Patel said on Monday. "The Ministry of Heavy Industries beli
ADD imposed imports of Morpholine
New Delhi, September 21:  The Ministry of Finance has imposed anti-dumping duty on imports of Morpholine, originating in, or exported from, China PR, European Union and the United States of America, vide Notification No. 91/2011-Customs dated September 20, 2011.  The notification has been
Automatic service tax refund for exporters on anvil: CBEC
New Delhi, September 20:  In a move that will bring cheers to exporters, the government today said it was working on a system to automatically transfer service tax refunds in their accounts. "We are at a very advanced stage of preparing a software which would provide refunds of service tax to
Exemption granted to packaged Biscuits of value up to Rs.100
New Delhi, September 19:  The Ministry of Finance has granted exemption from the levy of excise on goods for the manufacture of Biscuits cleared in packaged form with per kg retail sale price equivalent not exceeding Rs. 100, vide Notification No. 39/201-CX dated September 12, 2011.
‘Indirect tax target of Rs 3.98 lakh cr will be met’
New Delhi, September 19:   The slowdown in industrial activities notwithstanding, the government on Monday said it is confident of achieving its FY’12 indirect tax collection target of Rs 3.98 lakh crore, an 18 per cent increase year-on-year. “Our revenue collection is robust
Panel recommends zero customs duty on imported LNG
New Delhi, September 19:   A high-level government panel has called for slashing customs duty on imported liquefied natural gas (LNG) to zero, instead of cross-subsidising the high-priced imported fuel by making domestic natural gas users pay more. An inter-ministerial committee headed by
Govt unveils new duty drawback plan for exporters
New Delhi, September 17:  The Ministry of Finance has announced new duty drawback scheme, covering nearly 4,000 items, including 1,100 new ones.  Engineering goods (including automobiles), chemicals (including pharma) and synthetic yarn are the three sectors that have gained most from the
New duty drawback rate may be lower; panel for 5.5% cap
New Delhi, September 10:  The Finance Ministry can fix a rate of up to 3 per cent lower for the new duty drawback scheme that will replace the Duty Entitlement Pass book (DEPB) scheme from October 1. Sources told Business Line that the Ministry has already received recommendations from the Sa
Government plans green channel clearance facility for traders
New Delhi, September 8:  A new green-channel customs facility that will allow hassle-free and expeditious clearance of India's $600-billion trade will be in place soon, helping bring down transaction costs for traders.  Consignments will be cleared by customs officials based on self declar
Insulated cables for windmills to pay excise duty
New Delhi, August 29:  Specially insulated electrical cables designed for wind mills are not exempted from central excise, the Supreme Court ruled last week in the case of Uniflex Cables Ltd vs Commissioner of Central Excise. It upheld the ruling of the CESTAT against the manufacturer, but quas
Royalty to be included in excise on imported CDs
New Delhi, August 29:  The Supreme Court has declared that royalty shown in the invoice of a music or film recording imported for sale in India should be included while computing customs duty. In this batch of cases, the recording was of Indian artists and they were converted into digital audio
House mark and brand name need not be registered
New Delhi, August 22:  The Supreme Court has set aside the judgment of the excise appellate tribunal in the case, Commissioner of Central Excise vs Kalvert Foods India Ltd, stating that the tribunal had not considered the distinction between the expressions “house mark” and “b
Govt eyes TDS in service tax
Mumbai, August 18:  The Central Board of Excise and Customs (CBEC) has proposed to introduce a Tax Deducted at Source (TDS) mechanism in collecting service tax. TDS has been successfully used for direct taxes like the income tax. Although the proposal is at initial stage, the board has set up
Environment Strategy for CBEC Approved
New Delhi, August 17:  Finance minister Pranab Mukherjee has approved an ‘environment strategy’ for the apex indirect taxes body, the Central Board of Excise and Customs, to ensure that customs officials remain sensitive to environment concerns. The environment strategy, a first fo
Service tax evaders to lose assets: Finance ministry
New Delhi, August 17:  Alarmed by a possible large-scale evasion of service tax, the finance ministry has decided to use the toughest measure in its bouquet of options - seizing property of assesses not filing returns -to ensure compliance with the law. Out of 15 lakh registered service tax as
Give reasons for dismissing appeals, SC tells courts
New Delhi, August 16:  A court should give reasons for its decision and should not dismiss an appeal with a cryptic order, the Supreme Court stated in the case, Chandna Impex Ltd vs Commissioner of Customs. The Delhi high court had dismissed the appeal of the importer against the customs tribun
Excise tribunal cannot change the final order
New Delhi, August 16:  The Supreme Court stated last week that the Excise Appellate Tribunal cannot revise its final order on an application for rectification of errors in its order. It can only remove errors apparent on the record, the court stated in the case, Commissioner of Excise, Mumbai v
Packaging charges for vehicles included in excise
New Delhi, August 16:  The Supreme Court last week dismissed the appeal of Royal Enfield Ltd, rejecting its argument that the cost of packaging charges incurred by it should not be taken into account for computing excise duty on the motorcycles manufactured by it. The company filed price declar
New cess may be levied to fund free healthcare
New Delhi, August 16:   The government is considering a proposal to levy a surcharge to fund its ambitious plan of providing free healthcare to every citizen in the country.  The Planning Commission's expert panel has turned down the proposal for a securities transaction tax, and inst
Names of tax defaulters to be made public
New Delhi, August 1:   :Names of chronic income tax defaulters would be made public as part of government's crackdown ontax evasion and black money. Finance Minister Pranab Mukherjee disclosed yesterday that the government was working on a number of strategic initiatives to curb generatio
Imports of Poly Vinyl Chloride Paste Resin suffer ADD
New Delhi, July 27:   The Government has imposed an anti-dumping dutyon imports of Poly Vinyl Chloride Paste Resin, originating originating in, or exported from, People’s Republic of China, Japan, Republic of Korea, Malaysia, Russia, Taiwan and Thailand, at a rate  which is equi
Safeguard duty on key chemical to impact rubber industry
New Delhi, July 26:   Margins of tyre and rubber industry will take a hit after India has decided to impose steep safeguard duties on a key chemical used in processing despite protests from the European Union and the US. "The decision to impose safeguard duty (on PX-13) was taken as there
SC dismisses appeal of CC, Kolkata disallowing exemption
New Delhi, July 25:  The Supreme Court has dismissed the appeal of the commissioner of Customs, Kolkata, and ruled that butyl acrylate monomer used in leather industry is an adhesive entitled to customs benefits. In this case, Commissioner vs G C Jain, M/s Sanghvi Overseas imported 14 consignme
TDS likely to be extended to service tax
New Delhi, July 23:   The Central Board of Excise and Customs (CBEC) has formed an expert group to look into the feasibility of extending the concept of Tax Deducted at Source (TDS) to service tax. which will entail the user of a service to deduct service tax before making payments to the
‘Negative list’ not to apply for existing services
New Delhi, July 23:   There is no intention to bring this concept of ‘negative list’ for existing service tax, Mr S. Dutt Majumder, Chairman of the Central Board of Excise and Customs (CBEC), told a national conference on GST, organised by Assocham here on Friday. The Finance
Anti-dumping duty imposed on Japanese, Chinese gas
New Delhi, July 19:  India has imposed anti-dumping duty of up to $1.41 per kg on imports of a gas, used primarily for refrigeration purpose, to protect domestic players from cheap Chinese and Japanese shipments, based on the recommendation of the Designated Authority under the Commerce Ministr
FM asks CBDT and CBEC to raise tax targets by 10 pc
Kolkata, July 18:  Finance Minister Pranab Mukerjee today asked the CBDT and the CBEC to increase tax collection targets by 10 per cent for the current fiscal.  After a meeting with the CBDT and CBEC officials here a couple of days back, Mukherjee told reporters the tax collection targets
Concessional duty allowed for rubber imports
New Delhi, July 18:   The Centre has allowed imports of 40,000 tonnes of natural rubber at a concessional duty of 7.5 per cent for the current fiscal. This is similar to the one allowed last fiscal. Since April 1 this year, the Customs duty on natural rubber has been fixed at 20 per cent
Concessional duty allowed for rubber imports
New Delhi, July 18:   The Centre has allowed imports of 40,000 tonnes of natural rubber at a concessional duty of 7.5 per cent for the current fiscal. This is similar to the one allowed last fiscal. Since April 1 this year, the Customs duty on natural rubber has been fixed at 20 per cent
Govt to bring more services under tax net
Mumbai, July 17:  The Finance Ministry plans to bring more professions in the services sector under the tax net, a senior bureaucrat said here today. He was speaking at a service tax-related event organised by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). "More areas i
Centre's indirect tax kitty swells 30% in Q1
New Delhi, July 15:   Buoyed by a 30 per cent increase in indirect tax collections in the first quarter this fiscal, the Central Board of Excise and Customs (CBEC) today said that the overall collection target for 2011-12 would be comfortably met. For the April-June 2011 period, the Centr
Direct tax collection drops 17% in Q1
New Delhi, July 7:   Net direct tax collection drops 17 per cent to Rs 57,268 crore in April-June quarter.  This decline is being attributed to the significant jump in income-tax refunds during April-June. Tax refunds for the period under review trebled at Rs 46,868 crore (Rs 15,366
Service tax evasion rises to Rs 1651 cr in FY12 so far
New Delhi, July 5:   India's service tax evasion, aided mainly by sectors like telecom and industrial construction, has jumped by a mammoth 200 per cent in the first quarter of the current fiscal touching Rs 1,651 crore. The probe in many cases, according to sources, has led the enforceme
CBEC estimates GST rates at 16-20%
Kolkata, June 28:   The Central Board of Excise and Customs (CBEC) has said that tax rates under the proposed Goods and Services Tax (GST) regime in India are likely to be between 16 per cent and 20 per cent. “World-over, GST rates are typically between 16 per cent and 20 per cent.
Bombay HC quashes CBEC circular on claim of benefits under TPS
A division bench of the Bombay high court has quashed the circular issued by the Central Board of Excise and Customs which put a condition for claiming benefits under the Target Plus Scheme (TPS) in the Foreign Trade Policy (2004-09). Essel Mining Industries Ltd, a registered exporter and manufactur
New website of Chennai Customs (Airport & Air Cargo) launched
Chennai, June 23:    A new website for the office of the Commissioner of Customs (Airport & Air cargo), Chennai was launched on June 16 by Shri S.K. Goel, Member, CBEC.  Shri Goel said that this will be a big leap in the trade facilitation
GST regime unlikely from April 2012
New Delhi, June 22:   Introduction of indirect tax reforms through the common goods and services tax, or GST, from the next fiscal appears uncertain with fresh opposition pouring in from BJP-ruled states who claim that it would reduce their status to that of municipalities and corporations
Service Tax notifications amended
New Delhi, June 16:   The Ministry of Finance has issued three notifications, Nos. 38 to 40/2011-ST, all dated June 14, 2011. Transport of goods, such as military equipments, railway equipments, mail bags, passenger luggage in luggage van, parcels, low rate goods like kerosene, petro prod
DEPB scheme to be in force till Sept 30
New Delhi, June 14:   The Ministry of Finance has extended the Duty Entitlement Passbook (DEPB) till September 30.  However, the duty neutralisation scheme would not be continued any further than that. The 14-year-old scheme was to end by June 30, the Finance Secretary, Mr Sunil Mitra
Preferential Agreement with ASEAN nations superseded
New Delhi, June 2:   The Ministry of Finance has notified the revised concessional tariff applicable to imports from Member countries of the South East Nations, vide Notification No. 46/2011-Customs dated June 1, 2011. This supersedes the earlier notification No. 153/2009-Customs dated De
Amendments notified in Service Tax Act
New Delhi, April 26:   The Ministry of Finance has notified certain amendments relating levy of Service tax pertaining to several services as proposed in the Finance Act, 2011, vide Notification Nos. 29.2011-ST to 37/2011-ST, all dated April 25, 2011.  These provisions have been summa
Tax collections at Rs 7.92-lakh cr exceed revised estimates
New Delhi, April 16:   Thanks to the high GDP growth of 8.6 per cent in 2010-11, the Government collected more revenue than it expected to. The actual tax collections till March-end stood at Rs 7.92 lakh crore, higher than the revised target of Rs 7.8 lakh crore. This was stated by the Fi
Food inflation touches year's low at 8.28 pc
New Delhi, April 15:   Food inflation fell to a year's low of 8.28 per cent for the week ended April 2 as prices of certain essential items, like pulses and wheat, declined. This is the third consecutive week of decline in food inflation. The figure was 9.18 per cent in the preceding week
Creation of seven posts of Indirect Tax Ombudsman
The Union Cabinet today approved creation of seven posts of Indirect Tax Ombudsman to be located at Delhi, Mumbai, Chennai, Calcutta, Bangalore, Ahmedabad and Lucknow in the HAG + scale of Rs.75,500-80,000/- and the supporting staff. The Indirect Tax Ombudsman Guidelines, 2011 has also been approved
Claim of firms using HSD in captive units rejected
Bangalore, March 28:   The Supreme Court (SC) has dismissed a batch of appeals by various companies claiming credit of duty paid on high speed diesel oil used in their captive electricity generating plants. The Rajasthan high court had earlier rejected their contention in the case, Sangam
Fuel products contribute 60 pc of central excise revenue
New Delhi, March 27:   Fuel and petroleum products have contributed about 60 per cent of the government's total revenue from excise in 2009-10, a report by CAG has said. The Centre's total collection of excise duties was Rs 1.02 lakh crore in 2009-10. As per the CAG report, while motor s
SAD waiver on IT items keeps off computer price hike
New Delhi, March 24:   The cost hike for locally manufactured computers, which was on the cards after the 2010-11 Budget proposed to levy an excise duty of five per cent on specific IT items, seems unlikely now. The Budget announcement of five per cent excise levy on items such as micropr
DGFT’s power to amend licences upheld
Mumbai, March 22:  The Bombay HC last week quashed the decision of the Customs, Excise, Service Tax Appellate Tribunal which held the Director General of Foreign Trade (DGFT), the licensing authority under the Foreign Trade (Development & Regulation) Act, did not have the powers to amend li
Commin bats for sops to exporters gifting aid material to Japan
New Delhi, March 18:  The Commerce Ministry has asked the Finance Ministry to consider a proposal from exporters seeking tax benefits for gifting aid material including blankets and medicines to Japan, official sources said.  Mr Ramu S. Deora, President, Federation of Indian Export Organis
Appeal against excise appellate tribunal dismissed
New Delhi, March 14:  The SC last week dismissed the appeal of Hans Steel Rolling Mill against the ruling of the excise appellate tribunal and stated that “importing of elements of one scheme of tax administration to a different scheme of tax administration would be wholly inappropriate a
CBI registers three cases against Seven Customs Officials
New Delhi, March 8:   The Central Bureau of Investigation have registered three separate cases against seven officials in the rank of Superintendent and Inspectors of Customs posted at various places in Gujarat and Authorized Signatory and two other employees of Ahmedabad based Freight For
Branded garment cos to get cenvat credit
New Delhi, March 9:   In a relief to the branded garments industry, which has been slapped a 10% excise levy in the budget, the government has decided that the sector will be eligible for taxes paid on inputs.  A clarification to this effect is expected to issue soon, reports ET. 
GST could miss April 2012 date: Revenue Secy
New Delhi, March 3:  The eagerly awaited Goods and Services Tax (GST) might not be implemented by April 2012, even as the Government gets set to introduce the Constitutional Amendment Bill required for GST during the current session of Parliament.   “The GST legislation cannot b
Service tax provisions to be used sparingly: Finmin
New Delhi, March 2:   Allaying fears of the industry over introduction of harsh provisions in the service tax rules, a senior Finance Ministry official has said they will be used sparingly against willful defaulters.  "Prosecution is not something that is necessarily going to be lodge
Firm not eligible for two simultaneous excise benefits
New Delhi, February 28:  The Supreme Court last week dismissed the appeal of Uttam Industries, manufacturers of aluminum circles, holding that it was not entitled to claim two benefits on central excise simultaneously. Under two notifications issued by the Haryana government, exe
Commissioner is not ‘proper officer’ under the law
New Delhi, February 21:  The Supreme Court last week dismissed the appeal of the Commissioner of Customs against the ruling of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) on the question of ‘proper officer’ who had the power to issue show cause notice. In this ba
Govt mulls tighter international tax norms
New Delhi, February 13:   The government is considering tightening taxation norms for Indian companies having intermediary holding entities in overseas locations, as part of its efforts to increase its tax revenues.  "With very limited scope left on domestic front to widen tax collect
States to get Rs 7,029 cr to offset CST losses
New Delhi, February 11:  The Centre will pay Rs.7,029 crore as compensation to states for the losses they suffered in 2010-11 due to a reduction in the central sales tax rate, a move seen as an attempt to break the impasse over the proposed goods and services tax ahead of the meeting of the emp
Net direct tax collections up 20.45% in Apr-Jan
New Delhi, February 7:   The Centre has achieved net direct tax collections of Rs.3.18 lakh crore for the period April 2010 to January 2011, clocking 91.35 per cent,  of the revised target of net direct tax collections of Rs 3.47 lakh crore for the current fiscal. In the first ten mo
CBI raids Customs office
Chennai, February 1:   Based on complaints of misdeclaration and undervalue of goods, a group of about 10 men from the premier investigative agency, CBI, on Monday conducted a search at the Chennai Custom’s appraising section, meant for export and import through containers.  Acc
FM may extend tax holiday for IT exporters
New Delhi, January 27:   Finance minister Pranab Mukherjee could give in to industry demand and extend tax benefits available to software and merchandise exports under the special schemes by another year.   The tax exemption on profits enjoyed by 100% export-oriented units (EOUs)
Finmin plans self-assessment for customs duty
New Delhi, January 27:   The Central Board of Excise and Customs (CBEC) would like to go in for self-assessment on the customs front as soon as both risk management systems (RMS) and post-clearance audits get stabilised, its Chairman, Mr Sumit Dutt Majumder, said here today. Self-assessme
Appeal against levy of central excise dismissed
New Delhi:   The Supreme Court dismissed the appeal of Usha Rectifier Corporation challenging the levy of central excise on products which were used for research and development. The company manufactures electronic equipment. It bought components and assembled them for R & D. The compa
Tax target hiked to Rs 7.82 L cr, says Mitra
New Delhi, January 25:   Tax collections in FY11 are likely to exceed the budgetary target by about Rs 37,000 crore, at Rs 7.82 lakh crore, in light of robust growth of the economy. “The Budget target of tax revenue has been revised upward to Rs 7.82 lakh crore from Rs 7.45 lakh cro
Target for direct, indirect tax collections to be raised: FM
Chennai, January 23:  Union Finance Minister Pranab Mukherjee today said the targets for direct and indirect tax collections will be raised for this financial year and asked officials to intensify investigation against tax evasion. Direct Tax collections target has been increased to four per c
Indirect tax mop-up jumps 43% in Apr-Dec
New Delhi, January 18:  Excise duty collections registered a smart 29.5% rise in December 2010 from a year ago, allaying fears of a slowdown in manufacturing growth. Excise duty is a levy imposed on the production of goods.   Other indicators, such as the purchasing managers' index, sales
Value-based excise duty to replace flat levy in shift to GST
New Delhi, January 17:   The government could replace the flat rupee-denominated excise levy on some manufactured goods with the usual percentage-based system, or ad valorem basis, in the budget as a step towards the proposed goods and services tax , or GST. It could also prune the list of
SC stays Delhi High Court order on taxing of rent
New Delhi, January 13:   The Supreme Court has stayed an order of the Delhi High Court, which stopped the Centre from recovering service tax on renting of immovable property for commercial use, including shops and malls, from some firms. A Supreme Court bench comprising Justices Mukundaka
ADR to be future mode of dispute settlement: Moily
New Delhi, January 10:   Law and Justice Minister, Dr. Veerappa Moily has said that Alternative Dispute Resolution, ADR, will be the preferred mode of settlement of disputes in the future. India is spearheading the ADR movement and has caught up the attention of Courts in the country. He s
Anti-dumping duty on tyre manufacturers quashed
New Delhi, January 10:   The Supreme Court last week set aside the ruling of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) and quashed the levy of anti-dumping duty imposed under a notification dated April 27, 2005. The order was passed in the appeal case, Automative Tyre
Litigation Policy to be soon placed before Cabinet
New Delhi, January 6:   Struggling to bring down the over three crore pending court cases in the country, the Law Ministry proposes to soon place before the Union Cabinet a comprehensive National Litigation Policy which aims at disposing of cases within three years.  “The propo
Govt imposes anti-dumping duty on Chinese telecom equipment
New Delhi, December 26:   India has imposed anti-dumping duty of up to 266 per cent on imports of an IT equipment -- also used in the telecom sector -- to guard the domestic industry from cheap Chinese and Israeli shipments. The move would impact import of the equipment from companies lik
Parle's plea for SSI benefits dismissed
New Delhi, December 20:  The Supreme Court last week dismissed the appeal of Parle Bisleri Ltd challenging the ruling against it by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in an excise dispute over its soft drink flavours and the use of their brand names. Apart from Parl
DHI to push for 14% import duty on power gear
New Delhi, December 16:   The Department of Heavy Industry (DHI) will pursue a 14 per cent duty on power equipment imports, said Mr Vilasrao Deshmukh, Union Minister for Heavy Industries and Public Enterprises, speaking at the sidelines of the National Conference on ‘Indian Capital G
DRI seizes ketamine, memory cards
Chennai, December 12:   The Directorate of Revenue Intelligence (DRI) seized 9.6 kg ketamine worth Rs 96 lakh and around 7,000 memory cards concealed in three bags at air customs warehouse in the airport. The bag containing ketamine was suspected to have been abandoned by a passenger at Si
Direct tax collections cross 50% of the target
New Delhi, December 7:   During the period April-November 2010, net direct tax collections stood at Rs.2,16,628 crore, up from Rs.1,83,822 crore during the same period last fiscal, registering a growth of 17.85 percent and crossing 50 percent of the BE target of Rs.4,30,000 crore for fisca
ADD imposable on parts of CFL in CKD/SKD condition
New Delhi, December 7:   The Central Board of Excise and Customs has clarified that when any article such as Compact Fluorescent Lamps ( CFL) is imported in CKD/SKD condition, its classification for purpose of assessment would be done as complete or finished article in terms of the said Ru
Medicine with short shelf life has no excise exemption
New Delhi, December 6:   A product with a very short shelf life is still marketable and cannot claim exemption from excise duty on that account, the Supreme Court stated while dismissing the appeal of Nicholas Piramal India Ltd against the view of the Commissioner of Central Excise, Mumbai
Final ADD imposed on import of Phenol
New Delhi, December 3:   The Ministry of Finance has imposed final anti-dumping duty (ADD) for a period of five years (unless revoked, superseded or amended earlier), originating in or exported from Thailand and Japan, vide Notification No. 120/2010-Customs dated December 1, 2010.&nbs
Definitive ADD proposed on Chinese circular weaving machine
New Delhi, November 24:   The Designated Authority in the Commerce Ministry has recommended imposition of definitive anti-dumping duty on circular weaving machines with six or more shuttles for weaving PP/HDPE fabrics of width exceeding 30 cm from China. In response to the petition origin
Tax arrears up 18% to Rs 2.9 lakh cr till March
New Delhi, November 23:   The government today said that tax arrears rose over 18 per cent to Rs 2.93 lakh crore as on March 31, 2010 against the year-ago period. The direct tax arrears grew over 16 per cent to Rs 2.48 lakh crore as on March 31, 2010 compared to Rs 2.13 lakh crore at the
S.D. Majumder to be acting Chairman CBEC
New Delhi, November 18:  The Finance Minister has selected former DRI Director General Sumit Dutt Majumder as acting chairman of Central Board of Excise and Customs and Sudhir Chandra as the next chairman of Central Board of Direct Taxes. Mr. Majumder will take over from incumbent V. Sridhar w
CBEC amends handling of cargo in Customs areas
New Delhi, November 15:   The Ministry of Finance has amended Regulation 5 of Handling of Cargo in Customs Areas Regulations, 2009, vide Notification No. 96/2010-Cus (NT) dated November 12, 2010. Salient changes in the Regulation 5 include provision of free of cost or fully furnished offi
Ms. Lalitha John takes charge of Member (P&V), CBEC
New Delhi, November 12:   The Central Board of Excise and Customs has issued Office Order No. 253/2010 dated November 3, 2010, assigning the charge of Member (Personnel & Vigilance), CBEC, giving the zones/DGs to be under her supervision.  Consequently, Mr. S.K. Goel, Member (Cust
Provisional ADD recommended on export of Radial Tyres by Quingdao
New Delhi, October 29:   The Ministry of Finance had imposed definitive anti-dumping duty (ADD) on import of Bus and Truck Radial Tyres, originating in or exported from PR of China and Thailand vide Notification No. 12/2010-Customs dated February 19, 2010.  On a request for review, t
Customs collections till September up 65%
Chennai, October 28:  Collections of customs duty rose 65 per cent year-on-year in the current year till September, which works out to roughly 48 per cent of budgeted tax revenues for the current year, the Revenue Secretary, Mr Sunil Mitra, said today. Speaking to journalists on the sidelines
Form of Bond revised availing exemption under EPCG
New Delhi, October 29:   The benefit of zero duty EPCG scheme which is governed by notification Nos. 101/09-Cus and 102/09-Cus both dated 11.09.09 is subject to the condition that the importer should not have been issued in the year of issuance of zero duty EPCG authorization, the duty cre
Pruning of excise exemptions in Budget likely
New Delhi, October 21:  The finance ministry is looking into the possibility of phasing out some exemptions from the Centre’s excise list in the next Budget. The move is part of the transition exercise to the goods & services tax (GST) regime, slated to come into force next financial
Drawback claims by DTA units relaxed
New Delhi, October 18:  The Central Board of Excise and Customs has modified the procedure with regard to drawback claims in respect of goods supplied from DTA units to Developers and units in SEZ except where the unit or Developer issues a disclaimer to the DTA supplier in which case the Commi
Service tax payment option for lottery ticket distributors announced
New Delhi, October 11:   The Ministry of Finance has issued Notification No. 49/2010-Service Tax dated October 8, 2010, for service tax payment on promotion or marketing of lotteries. Budget 2010-11 had introduced service tax levy on the services of promoting, marketing, or organising of g
ADD on narrow woven fabrics continued
New Delhi, October 8:   The Central Government has decided to impose definitive anti-dumping duty (ADD) on imports of Narrow woven fabrics having pile weave, made up of manmade fibres (also known as hook and loop tape fasteners or Velcro tapes or fastening tape), originating in, or exporte
Specified goods exempted on import from Nepal
New Delhi, October 4:  The Central Government has exempted specified goods when imported into India from Nepal from the whole of the duty of customs, subject to certain conditions as stipulated vide Notification No. 104/2010-Customs dated October 1, 2010.  The current notification supersed
Duty relief for goods imported for Ladakh relief operations
New Delhi, October 1:   The Ministry of Finance has exempted all goods when imported into India by the Lille Fro Foundation and intended for donation to the Ladakh Autonomous Hill Development Council for the purposes of the relief operations in the Ladakh region  from basic as well as
Raw cotton and cotton waste exempted from export duty
New Delhi, October 4:  The Ministry of Finance has inserted Raw cotton and cotton waste (all sorts) which would be eligible for exemption from the whole of the duty of customs leviable under the Second Schedule when exported out of India, vide Notification No. 105/2010-Customs dated October 1,
Condition for import of goods for 'Shooting' modified
New Delhi, October 4:  The Ministry of Finance has stipulated that in respect of goods listed under item XV ‘SHOOTING’ specified in column (2) of the Table annexted to Notification No. 146/94-Customs dated July 13, 1994, the said goods are imported into India by a renowned shoote
Exemption Notification 21/2002-Cus amended
New Delhi, October 4:  The Ministry of Finance has, vide Notification No.102/2010-Cus dated October 1, 2010, issued an amendment to Notification No.21/2002 to state as under: “In the said notification, in the preamble, in the proviso, in clause (iag), for the figures, letters and words&nb
Date of filing I-T Returns for AY 2010-11 extended
New Delhi, September 29:  The Central Board of Direct Taxes has extended the due date of filing income tax returns for the assessment year 2010-11 from 30th September 2010 up to 15th October 2010. The due date has been extended in view of disturbance to general life caused by floods. Accordingl
DoT permit mandatory for Sat phone import
New Delhi, September 25:   The Central Board of Excise and Customs (CBEC) has said passengers bringing satellite phones as part of baggage will have to declare them to the Customs on arrival. Steps will be taken to alert all arriving passengers to their responsibility to make such declarat
CBEC streamlines processing of departmental appeals
New Delhi, September 23:   The Central Board of Excise and Customs  has taken a serious view concerning the appeals filed by the Department before the courts and tribunals.  The Board has found that more than 50% of the proposals received by it suffer from infirmities including d
Central excise slaps Rs 1.15 cr service tax notice on Yuvraj
Chandigarh, September 16:  Central excise department has slapped a notice on cricketer Yuvraj Singh of Kings XI Punjab franchise seeking payment of service tax to the tune of Rs 1.15 crore raised on his income from two seasons of IPL and endorsements.  Yuvraj's tax consultant, while refuti
Refund of 4% CVD: Further clarification issued
New Delhi, September 16:  The Central Board of Excise and Customs has clarified the applicability to textile manufacturers of refund of 4% additional duty of customs (CVD).  In its Circular No. 34/2010-Customs dated September 15, 2010, the Board has clarified that this benefit cannot be ex
Ennore added for imports under export promotion schemes
New Delhi, September 15:  The Ministry of Finance has added Ennore port as one of the ports through which imports can be effected in respect of various export promotion schemes, vide Notification No. 93/2010-Customs dated September 14, 2010.  Besides, Irugur Village (Tamil Nadu), Thudiya
Govt to rectify import duty disparity between natural rubber, tyres
New Delhi, September 13:   The government today said work was underway to correct within a month the import duty disparities between natural rubber and tyres, in order to protect the domestic industry.  "Give me a month's time, we are trying to sort out the problem of inverted duty st
Finmin plans to tax goods sold in SEZs
New Delhi, September 11:  The finance ministry has proposed to tax goods sold in a special economic zone (SEZ). The move aims to check diversion of goods to the domestic market without payment of duty, the revenue department of the ministry said. As per developers, the proposed move is against
CBI arrests a Jt. Commissioner of Customs in a DA Case
New Delhi ,  September 6:  The Central Bureau of Investigation has registered a case against a Joint Commissioner of Customs (IRS Officer of 1993 Batch), JNPT, Mumbai on the allegation of possession of disproportionate assets. It was alleged in the FIR that the public servant, while workin
No reversal of Cenvat taken on wire processing
New Delhi, September 8:  The Ministry of Finance has held that where an assessee has paid duty of excise on wires drawn from wire rods, falling under Chapter 72 of the Central Excise Tariff Act, 1985, the CENVAT credit taken or utilized, of the duty or tax or cess paid on inputs, capital goods
No levy of service tax for outdoor catering provided by NGO
New Delhi, September 8:  The Ministry of Finance has, vide Notification No. 47/2010-Service Tax dated September 3, 2010, exempted the taxable service of outdoor catering referred to in sub-clause (zzt) of clause (105) of section 65 of the Finance Act, if the same is provided by a Non Governme
Courier Regulations clarified
New Delhi, September 8:  The Central Board of Excise and Customs has issued guidelines regulating the procedure for clearance of courier consignments, both import and export, in the manual and electronic mode framed under Courier Imports and Exports (Electronic Declaration and Processing) Regul
De novo proceedings not to cover exonerated persons: HC
New Delhi, September 3:  A rare situation in the quasi-judicial proceedings under the Central Excise Act, 1944, emanates from a recent order of the Hon’ble High Court of Delhi in the case of S.C. Rahi vs UOI and Another, reported on page 18 of Vol.179 of Excise & Customs Reporter, pub
Duty exempted on specified goods from Myanmar
New Delhi, September 4:   The Ministry of Finance has included Myanmar as one of the countries in Notification No. 153/2009-Customs, goods from which would be exempted from so much of the duty of customs leviable thereon as is in excess of the amount calculated in Annexure I appended there
CBI arrests customs officials in corruption case
Kishanganj (Bihar), September 2:  Two Customs officials, including a superintendent, were arrested by CBI in connection with an alleged corruption case here today, officials said.  CBI sleuths raided the Customs office here and arrested Superintendent Man Mohan Sharma and a constable, they
Customs notifications aligned to FTP
New Delhi, September 3:   The Department of Revenue has aligned the notifications in respect of Served From India Scheme (SFIS), VKGUY and Duty Free Import Authorisation (DFIA) Scheme consequent to the announcement of the Foreign Trade Policy announced on August 23, vide Notification No.90
GST cannot be implemented from April 2011: FM
New Delhi, September 2:   At a meeting taken yesterday by the Finance Minister, Pranab Mukherjee, with the Chief Commissioners in the CBDT and CBEC, the Minister said that it may not be possible to introduce GST from April 1, 2011, because, GST legislation, both at the Centre and the State
FM exhorts CBEC and CBDT to set up Committees for litigation management
New Delhi, September 2:   Speaking at a review meeting with the Chief Commissioners and Commissioners of Income Tax, Customs and Central Excise in Mumbai yesterday, the Finance Minister, Shri Pranab Mukherjee has asked the Central Board of Direct Taxes (CBDT) and Central Board of Customs a
No sugar export against raw sugar imported in 2009
New Delhi, September 2:   The Directorate of Sugar, Ministry of Consumer Affairs, Food and Public Distribution, has requested that no export of sugar should be permitted against raw sugar imported under the Advance Authorization Scheme from 17.2.2009 to 30.9.2009 without the release order
Import of goods for CWG further clarified
New Delhi, August 31:  The Central Board of Excise and Customs has clarified that suppliers / contractors / vendors or sub vendors of OC, CWG, the Prasar Bharti or of the broadcasting right holders will also be eligible for benefit of the said Notification i.e. Notification No. 13/2010-Customs
Direct Taxes Code tabled in Lok Sabha
New Delhi, August 30:  Finance Minister Pranab Mukherje has tabled the Direct Taxes Code in the Lok Sabha.  The Code, however, belies the promise of overhauling the taxation system, but is more in the nature of rationalization of the income slabs so as to reduce the overall tax burden. &nb
Elastomeric yarn not subjected to ADD
New Delhi, August 31:  The Central Board of Excise and Customs has clarified that the anti-dumping duty (ADD) imposed vide Notification No. 15/2007-Cus dated February 20, 2007, would not apply to import of Spandex Yarn (Elastomeric yarn).  This clarification, vide Circular No. 30/2010-Cust
Exchange rate for September ’10 notified
New Delhi, August 31:   The Ministry of Finance has notified the rate of exchange of foreign currencies for conversion into Indian rupees in respect of import and export goods, vide Notification No. 77/2010-Cus (NT) dated August 27, 2010. MINISTRY OF FINANCE, DEPARTMENT OF REVENUE CE
Conditions for imports under CWG modified
New Delhi, August 28:  The Ministry of Finance has issued Notification No. 84/2010-Customs dated August 27, 2010, to introduce certain modifications in the procedure in respect of goods imported by the Organising Committee of the Common Wealth Games, 2010, National sports federations in relatio
DGBA.GAD.No.H- 850 /41 .07.003/2010-11
-----------------------------------RESERVE BANK OF INDIA----------------------- DGBA.GAD.No.H- 850 /41 .07.003/2010-11 July 29, 20101.The Chairman/ Managing DirectorState Bank of India & its Associate Banks2.The Chairman and Managing Directo All Nationalised Banks and IDBI Bank Ltd 3.The Mana
Assessee Code mandatory for Excise & Service Tax Payments
New Delhi, August 26:  R.B.I has issued Circular DGBA.GAD.No.H - 850/41.07.003/ 2010-11 dated 29th July 2010, making it mandatory for the authorised banks to accept Central Excise and Service Tax payments from only those assessees whose Assessee Codes (Registration Numbers) exist in the EASIEST
Definitive ADD imposed on Coumarin from China
New Delhi, August 25:  The Central Government has issued Notification No. 82/2010-Customs dated August 20, 2010 imposing definitive anti-dumping duty (ADD) on Coumarin, originating or exported from the People’s Republic of China, and imported into India, at a rate equivalent to the differ
DRI seizes 127 tonnes of imported e-waste
Chennai, August 20:  Officials of the Directorate of Revenue Intelligence (DRI), Chennai, seized 127 tonnes of e-waste imported from four foreign countries from a container terminal here. C. Rajan, Additional Director General, DRI, Chennai, said they received specific information that electric
Indirect Tax Collections up 46.2 % during April-July
New Delhi, August 12:  Customs, Central Excise and Service tax  revenue collections have  increased  by 46.2  percent at all India level during April-July 2010 over its corresponding period April-July 2009. Total revenue collections were to the tune of Rs.96,223/- crore duri
Raw silk imports enjoys nil duty
New Delhi, August 12:   The Ministry of Finance has permitted import of raw silk of Grade 3A and above at nil rate of duty, vide Notification No. 80/2010-Customs dated August 10, 2010, if imported by National Handloom Development Corporation up to an aggregate quantity not exceeding 2500 m
Goods for CWG: Suppliers/venders not eligible to import
New Delhi, August 10:   The Central Board of Excise and Customs has clarified that suppliers/ contractors/vendors appointed by the OC, CWG would not be eligible for the benefit under the said notification.  The specimen signatures of the Joint Director General (Coordination), OC, CWG
CAG favours taxing physicians samples
New Delhi, August 7:   In a report presented before the Parliament on Friday, the Comptroller and Auditor General (CAG), the supreme audit body, said that the government lost a total of over Rs.5 crore as revenue during the period 2005-06 to 2007-08, following 38 cases where central excise
Mangalore Central Excise Web site
Mangalore, August 5:   The Mangalore Commissionerate of Central Excise launched its Web site on July 30. A press release said here that the Web site contains details of matters related to Central Excise and Service Tax in the commissionerate. The site provides i
Power generation equipment to suffer 10% duty
New Delhi, August 5:  A Committee under the Chairmanship of Member (Industry), Planning Commission was constituted to suggest options and modalities to take care of the disadvantages suffered by the domestic industry related to mega power projects in the power sector. The committee has inter-al
Provisional ADD imposed on PVC paste resin
New Delhi, July 28:  The Ministry of Finance has imposed provisional anti-dumping duty (ADD) on imports of Poly Vinyl Chloride Paste Resin, falling under sub heading 3904 22 10 of CTA, originating in, or exported from, People’s Republic of China, Japan, Republic of Korea, Malaysia, Russia
Kolkata Customs to tighten vigil on Nepal border
Kolkata, July 23:  Customs authorities propose to step up surveillance along India's border with Nepal to check inflow of contraband goods and fake currencies, according to Mr S. Subramanian, Commissioner of Calcutta Customs.  “Large containers on road trailers will be subject to tho
CE dept to send notices to four IPL players
Chandigarh, July 20:    The central excise department, Chandigarh region, will soon issue notices to four cricket players, including Yuvraj Singh, for payment of Rs 1.17 crore as service tax on the income from the first and the second IPL seasons.  “Demand notices to four p
Centre agrees to dual rate under GST
New Delhi, July 21:   A consensus is emerging on the proposed Goods and Services Tax structure (GST), with the Centre on Wednesday agreeing to adopt a dual rate structure — a lower rate and a standard rate — for goods at the inception of Goods and Services Tax (GST).  Ther
No service tax on food supplied by IRCTC on trains: HC
New Delhi, July 22:   The Delhi High Court has said that eatables provided by the Indian Railways Catering & Tourism Corporation (IRCTC) in trains do not come within the ambit of service tax.  The court passed the order on a petition of the IRCTC, seeking a direction from the gove
CBEC tightens import norms to check IPR violation
New Delhi, July 12:   India has tightened its import norms to ensure fake product that violates design patents do not come into the country even for self use, as the country looks to contribute its bit to check global piracy. The Central Board of Excise and Customs, the apex indirect taxe
Customs summons Bhushan Steel chief for alleged duty evasion
New Delhi, July 10:   Customs authorities have issued summons to Bhushan Steel Chairman Brij Bhushan Singhal in connection with alleged duty evasion on goods said to be valued at around Rs 20 lakh brought by him on his return from London on Thursday. "The summons have been issued for Jul
Government may impose import duty on sugar: Pawar
Kolkata, July 11:  The government may impose import duty on sugar in August as it is expecting a bumper crop, union Agriculture Minister Sharad Pawar said here on Saturday.   "We will be getting the sowing data till the first week of August and after that we will take a decision on th
CBEC clarifies refund of 4% CVD
New Delhi, July 9:  Having noticed that more than 80% of pending claims relate to 4% CVD cases, the Board has decided to further simplify the procedure for claiming 4% CVD refund, following several representations from the trade and industry, associations complaining about the delay in refund o
SC pulls up Revenue dept for delay in filing appeals
New Delhi, July 8:  The inordinate time taken by Revenue Departments in filing appeals against judgments that went against them has snowballed into a serious affair, with the Solicitor General assuring the Supreme Court today that action is being taken to cut short the time lag, BS has reported
Indirect tax mop-up zooms 43pc in Q1
New Delhi, July 8:   Indirect tax collection soared by a whopping 43 percent to Rs 56,930 crore in the first quarter of the current fiscal on the back of an upswing in industrial activity. The revenue from customs, excise and service tax, which make up the indirect taxes, during the April
CBI files charge sheet against top Customs officials
Chennai, July 3:  The Central Bureau of Investigation on Friday filed charge sheet against top Customs officials in a special court at Coimbatore in connection with a corruption case.  The Anti-Corruption Branch had registered five cases in 2007 against Customs officers working in Tirupur,
IATA agents oppose service tax on economy class
Kochi, July 1:   The IATA Agents Association of India, Kerala Chapter, has opposed the Central Government decision to charge service tax on all economy class passengers in addition to the existing service tax with effective July 1, as it would be a burden to the middle and low-class passen
Tribunal cannot dismiss an appeal for involving low stakes at the stage of final hearing, rules High Court
Chennai, July 1:  The High Court of Madras in an appeal filed by the Department against the order of the Tribunal has ruled that the Tribunal has no power to dismiss an appeal, at the stage of final hearing, on the ground that the stakes involved is very less. The High Court has further held &l
Levy for non-payment of service tax on account of ignorance not sustainable: HC
Chennai, July 1:   Levy of penalty under Section 78 of the Finance Act, 1994 due to non-payment of service tax because of ignorance of law is not acceptable, ruled the High Court of Madras in an appeal filed by the Department against the order of the Tribunal. Affirming the decision of the
Tariff rate of Brass Scrap revised
New Delhi, July 1:  The Central Board of Excise and Customs has revised the tariff value in respect of brass scrap (all grades), when imported into India, to $ 3645 per metric tonne, vide Notification No. 52/2010-Customs (NT) dated June 30, 2010.  No change has been notified in respect of
ADD on Emulsion PVC extended
New Delhi, June 29:  The Ministry of Finance, on the recommendation of thew Designated Authority, has extended the imposition of anti-dumping duty (ADD) on Poly Vinyl Chloride Paste Resin also called as Emulsion PVC Resin, falling under sub-heading 3904 22  10 of the First Schedule to the
Clean energy cess on coal, lignite, peat from July 1
New Delhi, June 28:  The clean energy cess (CEC) imposed on coal, lignite and peat will come into effect from July 1, the Finance Ministry has said.  A slew of notifications No.1 to 5/2010-Clean Energy Cess, all dated June 22, 2010 have been issued, following the announcement by the Financ
ADD proposed on Chinese PVC Flex Film
New Delhi, June 25:  The Designated Authority in the Commerce Ministry has recommended imposition of provisional anti-dumping duty on imported ‘PVC Flex Film' from China, following a petition from the domestic manufacturer, Pioneer Polyleathers Pvt Ltd, Rudrapur (Uttarakhand), alleging du
Dumpers defined under Cenvat Credit rules
New Delhi, June 23:  CENVAT Credit on capital goods viz., dumpers or dippers are allowed to service providers on condition that these machinery are registered in the name of the provider of the output service and it is used for providing taxable service viz., site formation, excavation, earth m
Service tax waived on power supply, services within ports from July 1
New Delhi, June 23:   The Government has issued 12 notifications, bearing No. 24 to 35/2010-Service Tax, all dated June 22, 2010, to appoint July 1, 2010, as the date on which the provisions of  the Finance Act, 2010, in respect of applicability of service tax on various services shal
CVD chargeable on RMG based on RSP/MRP, says CBEC
New Delhi, June 23:  The Central Board of Excise and Customs has clarified that for the purpose of uniformity in assessment, the additional duty of Customs (CVD) is chargeable on import of such readymade garments on the basis of their R.S.P./ M.R.P.  The Board has drawn attention to the No
Indian customs seize tiger parts on way to China
Shillong, June 20:   Acting on a tip-ff, Customs officers have seized two shipments of tiger bones and other animal parts worth $430,000, at the international airport in the far-eastern city of Guwahati, destined for use in traditional medicine in China, North East Customs Commissioner S R
Drawback Rules, 1995 amended
New Delhi, June 18:  Rules 6, 7, 15 and 16A of the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995 have been amended vide Notification No.49/2010-Customs (NT) dated June 17, 2010. The sum and substance of the amendment is providing of more time to exporters to approach the
Tariff value of brass crap, poppy seeds revised
New Delhi, June 16:  The Central Board of Excise and Customs has issued Notification No. 47/2010-Cus (NT) dated June 15, 2010, revising the tariff value of brass scrap (all grades) and poppy seeds, when imported into India.  According to the notification, the tariff value of brass scrap ha
Import duty on sugar on hold
New Delhi, June 14:   The government will wait for 10-15 days before taking a call on imposing import duty on sugar, although the domestic industry kept up pressure for the levy to arrest a crash in prices.  "No decision on imposing import duty on sugar immediately because global pric