In the month of November 2014, vide public Notice No. 76, Directorate General of Foreign Trade had made e-application for Import Export Code (“IEC”) mandatory from 1st January 2015 onwards. However, owing to some reasons vide Public Notice No. 80; the same was kept in abeyance till further notified date. Now, vide Public Notice No. … Continue reading Application for Import Export Code registration to be filed online (mandatory) from 1st February 2015

The Central Board of Excise and Customs (CBEC) has issued an instruction in respect of issuance of summons in the Central Excise and Service tax matters wherein summons have been issued by the field formations to the officials of the companies to enforce recovery of dues, which are under dispute.  CBEC has emphasized that the … Continue reading Summons to be issued when it is absolutely required [Instruction F. No. 207/07/2014-CX-6 dated January 20, 2015 ]

The Commissioner of Service Tax, Goa passed an order-in-original and confirmed the service tax liability on the Appellant. The Appellant preferred an appeal before the Hon’ble CESTAT by making a pre-deposit (7.5 per cent of the tax demand confirmed by the learned Commissioner). Despite such compliance, the Deputy Director, DGCEI, Goa wrote a letter to … Continue reading There was no need for freezing the bank account once appeal has been filed by paying pre-deposit amount in terms of amended Section 35F of the Central Excise Act, 1944

With the increasing demand and requirement of securitisation process for various receivables Securities and Exchange Board of India (“SEBI”) in its Board Meeting held on 21st January, 2015 has approved amendments in Securities and Exchange Board of India (Public offer and Listing of Securitised Debt Instruments) Regulations, 2008, where they rationalised and clarified the roles … Continue reading SEBI EASES AND STANDARDIZES REGULATIONS FOR LISTING OF SECURITISED DEBT INSTRUMENT

Whether the Appellant was entitled to avail the benefit of exemption from Countervailing Duty (CVD) [equivalent to Excise Duty] in terms of Notification No. 02/2011-CE dated 01.03.2011 for importing the goods classifiable under chapter heading ‘2106 90’ ‘All kinds of food mixes, including instant food mixes’? The AR submitted that the goods under importation are … Continue reading Notification 02/2011-CE does not stipulate that it should be for consumption by all people or by all age groups