Tax
CBIC Imposes Additional Duty On Customs On Spent Catalyst Or Ash Containing Precious Metals, Gold Or Silver Findings And Coins Of Precious Metals
The Central Board of Indirect Taxes and Customs (CBIC) has imposed an additional duty on customs (AIDC) on spent catalysts or ash containing precious metals, gold or silver findings and coins of precious metals.The amendment imposes Additional Duty on Customs (AIDC) on items falling under tariff headings 7112, 7113, and 7118. The revised rates are set at 4.35% for spent catalyst or ash...
Kerala GST Dept. Issues Guidelines On Filing Appeals In Absence Of GSTAT
The Kerala GST department has issued the guidelines on filing appeals in the absence of the Goods and Service Tax Appellate Tribunal (GSTAT).Sub-section (1) of Section 112 of CGST/SGST Act provides that any person aggrieved by an order passed against him under section 107 or 108 of the Act may file an appeal to the Appellate Tribunal against such order within three months from the date on...
Indirect Tax Weekly Round-Up: 14 To 20 January 2024
Delhi High Court Delhi High Court Directs Customs Commissioner To Release Amount After Realising Redemption Fine, Penalty From Seized Foreign Currency Case Title: Oguljeren Hajyyeva Versus Commissioner Of Customs The Delhi High Court has directed the Customs Commissioner to release the remaining amount after realising the redemption fine and penalty from the seized...
Direct Tax Weekly Round-Up: 14 To 20 January 2024
Direct Tax Weekly Round-Up: 14 To 20 January 2024 Supreme Court Taxpayer Entitled To Hearing On Merits If Appeals Were Dismissed By HC For Delay In Filing Paper-Book: Supreme Court Case Title: Herbicides India Limited verses ACIT While setting aside the Rajasthan High Court orders, the Supreme Court restored the assessee's appeals by condoning the delay in filing the...
CBIC Extends Exemption Deadline From Deposits For Goods U/S 51A(4) Of The Customs Act till March 01, 2024
The Central Board of Indirect Taxes and Customs (CBIC) has extended the exemption from Deposits for Specified Goods under section 51A(4) of the Customs Act till March 01, 2024.Earlier, the deadline for exemption from Deposits for Specified Goods under section 51A(4) of the Customs Act was till January 20, 2024.The extension of exemption applies to goods imported or exported in customs...
GSTN Issues Advisory On Payment Through Credit Card/Debit Card And UPI
The Goods and Service Tax Network (GSTN) has issued an advisory on payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI).To facilitate payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI), two new facilities of payment have now been provided under e-payment in addition to net banking.Payment through CC/DC/UPI...
Budget 2024-25: CBIC Issues Advisory On Changes In ICES
Under the Central Board of Indirect Taxes & Customs, the Directorate General of Systems and Data Management has released an advisory regarding the impending Union Budget 2024–25.The Union Budget 2024-25 is expected to be presented in the Parliament on February 01, 2024. Consequent to the same, the exercise of updation of Notifications and Tariff Directories in ICES would be undertaken...
Determination Of Value Of Excisable Goods For Assessment Falls Within Exclusive Jurisdiction Of Supreme Court: Jharkhand High Court
The Jharkhand High Court has held that the determination of the value of the excisable goods for the purpose of assessment falls within the exclusive jurisdiction of the Supreme Court of India under Section 35L of the Central Excise Act, 1944.The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan has observed that the appeals are not maintainable, and the same would lie before...
S. 54F Exemption Not Available On Property Predominantly Being Used For Religious Purposes: ITAT
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that exemption under Section 54F of the Income Tax Act is not available on property predominantly being used for religious purposes.The bench of R.K. Panda (Vice President) and Laliet Kumar (Judicial Member) has observed that the property is predominantly being used for religious purposes, namely mosques, orphanages, and...
Revised Returns Filed Waiving Claim And Paid Taxes: Karnataka High Court Quashes Section 276C(1) Prosecution For Wilful Tax Evasion
The Karnataka High Court has quashed the prosecution under Section 276C(1) of the Income Tax Act for wilful tax evasion.The bench of Justice M. Nagaprasanna has observed that the assessees filed revised returns, waiving their claim for short-term capital loss and long-term capital gains, and also paid taxes, the moment the search was conducted and the assessment proceedings commenced.In...
GSTN Issues Advisory On Payment Through Credit Card/Debit Card And UPI
The Goods and Service Tax Network (GSTN) has issued an advisory on payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI).To facilitate payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI), two new facilities of payment have now been provided under e-payment in addition to net banking.Payment through CC/DC/UPI...
In Absence Of Consignment Note Transport Services Can't Be Considered As GTA Services: CESTAT
The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that in the absence of a consignment note, transport services cannot be considered goods transport agency (GTA) services.The bench of Binu Tamta (Judicial Member) has held that the goods were transported locally from the mines to the factory site, and since the distance to be covered is short, no...