As we all know, the Central Government vide Union Budget 2016-17 introduced a new Cess namely ‘Krishi Kalyan Cess’ (“KK Cess”), to be levied @ 0.5 per cent on the value of taxable services w.e.f June 01, 2016. For the said purpose, a separate chapter was inserted (i.e. Chapter VI) in the Finance Bill, 2016, … Continue reading Short Note on Krishi Kalyan Cess- New levy under the Finance Act, 2016

The Central Board of Excise & Customs (“CBEC”) vide Circular No.18/2016-Customs dated May 14th, 2016 has revised consignment and general bond which is required to be filed under section 59 of Custom Act, 1962. An importer is to execute a triple duty bond (earlier it was double duty bond) at the customs station of import with respect to the goods … Continue reading Amendment_Bond required to be filed under Section 59 of the Customs Act, 1962

Finance Bill, 2016 has received the Presidential assent on May 14, 2016. Now it becomes the Finance Act, 2016 (28/2016). The Finance Bill was presented in the Lok Sabha on February 29, 2016. The Lok Sabha passed the Finance Bill, 2016 on May 5, 2016 and later on, May 11, 2016 it was approved by … Continue reading Finance Act, 2016

[In the matter of AMRL Hitech City Ltd v. Commissioner of Central Excise & ST Tirunelveli] Appeal No.ST/40661/2015 Date of hearing/decision: March 17, 2016 BRIEF FACTS The Appellant is registered as Multi Product Special Economic Zone (MPSEZ) as a developer of AMRL Hi-Tech City. The Appellant claimed the refund of credit paid on various input … Continue reading SEZ DEVELOPER IS ELIGIBLE FOR REFUND OF SERVICE TAX PAID ON VARIOUS INPUT SERVICES LIKE COMPANY SECRETARY, CHARTERED ACCOUNTANT, SECURITY, LEGAL CONSULTANCY ETC.