A. BACKGROUND M/s P & P Overseas (“Appellant”) being a 100% Export Oriented Unit (“EOU”) could not utilize the Cenvat Credit for payment of duty on DTA clearances and since the accumulated Cenvat Credit was attributable to the input services which had been used in or in relation to manufacture of the finished products which … Continue reading Denial of refund claim on the ground that the export proceeds have not been received is not sustainable [Delhi CESTAT]
Month: July 2015
GOVERNMENT CLEARS GST AMENDMENTS, STATES TO BE COMPENSATED FOR 5 YEARS
The Union Cabinet has approved amendments to the Constitution (122nd Amendment) Bill to launch the goods and service tax (“GST” ), incorporating some of the suggestions of the select panel of Rajya Sabha that should clear the way for the passage of this much awaited reform should Parliament function. The key changes approved by the … Continue reading GOVERNMENT CLEARS GST AMENDMENTS, STATES TO BE COMPENSATED FOR 5 YEARS
GST Updates: Select Committee Report Summary The Constitution (122nd Amendment) Bill, 2014 (GST)
The Select Committee constituted to examine the Constitution (122nd Amendment) Bill, 2014 submitted its report to Rajya Sabha on July 22, 2015. The summary of the report of Select Committee is as under: Clauses of 122nd Constitutional Amendment Changes Recommended Clause 12 (Articles 279A) The proposed Article provides that the GST Council will make recommendations … Continue reading GST Updates: Select Committee Report Summary The Constitution (122nd Amendment) Bill, 2014 (GST)
No recovery proceedings can be initiated before adjudication of Show Cause Notice, however, Service Tax amount self assessed and declared in the return but not paid shall be recovered under Section 87 of the Finance Act, 1994 without serving any Notice as required under Section 73(1)
The Hon’ble Karnataka High Court relying upon the decision of GSP Infratech Development Ltd. Vs. Union of India and Others in W.P.Nos. 13781 & 14061/2013 (T-TAR) and held that the words “amount payable by a person” used in Section 87 of the Finance Act will have to be considered in the background of Section 73 … Continue reading No recovery proceedings can be initiated before adjudication of Show Cause Notice, however, Service Tax amount self assessed and declared in the return but not paid shall be recovered under Section 87 of the Finance Act, 1994 without serving any Notice as required under Section 73(1)
Rajya Sabha panel vets GST Bill; Congress’ 8-point dissent note throws spanners in the GST works
A Rajya Sabha select committee endorsed the Constitutional Bill for the Goods and Services Tax (GST), but uncertainty over whether it could be passed by the Upper House in the monsoon session persisted. This is because the Congress, the largest party in the Rajya Sabha where the BJP-led alliance is in a minority, could insist … Continue reading Rajya Sabha panel vets GST Bill; Congress’ 8-point dissent note throws spanners in the GST works
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