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Corporate News *  Foreign firms may also get chance to extract alkaloids from opium *  Gold import bill may touch $100 b by 2015-16 *  ‘India, Korea must explore trading in new products of mutual interest' *  Iran sets deadline for Indian oil companies *  GDP forecast for 2011-12 revised down to 6.9%: Government  *  Coal Min urges FM not to disturb mode for collecting SED *  Cos seek cut in corporate tax rates *  Forex reserves up $673m to $294bn *  Policy-making to slow down post 2G verdict, says Pawar *  With industrial activity picking up, economy can grow by 7.5% in the coming fiscal *  'Deterioration in European economy to hit India' *  FinMin putting pressure on taxmen to meet revenue targets *  Budget likely to retain Income tax slabs *  CBI and CVC seek permission to prosecute tainted babus in 2G scam *  Economists call for cut in oil, food and fertiliser subsidies *  Apex court cancels 122 2G licences *  Lenders to convert Air India loan into NCDs with govt guarantee *  Per capita income crosses Rs 50,000 *  ‘Budget must restore investor confidence in growth story' *  Southern States told to adopt granite conservation rules for uniform development *  Cenvat Credit - whether can be denied if invoice in the name of head office which is not registered Input Service Distributor but when cenvat credit is admissible and utilised for discharging service tax liability {See PJ/Case Laws/2011-12/1505 in what's new}
Subject News *  Indian exports to remain in troubled waters in 2012-13 *  Dumping duty sought on car radials from China *  Essential commodities to Bhutan exempt from export ban *  EU trade commissioner & Anand Sharma to discuss ways cross FTA hurdles *  Foreign trade policy: Rules to be set in clear words to curb graft *  Govt likely to bring more services in tax net *  NSE in dock for tax evasion *  Customs for hike in your duty-free allowance limit *  ‘Cut tax, interest rates for MSMEs and export sector' *  Customs department turns 50 *  Services PMI at six month high in January *  Additional import duty will mean higher electricity tariff *  Apparel exports down 2% in Dec *  Keep tax rates at same level; hike exemption limits: India Inc *  New SION for export product ‘Articles made of Thermo Plastic Elastomer (TPE)’ notified at serial number H-572 in Plastic Product Group {See DGFT Public Notice No. 95(RE-2010) in what’s new} *  SION for Assorted Confectionery revised - Inputs description specifically mentioned – quantities rationalized for export of Assorted Confectionery made of Cane Sugar – separate entry of Sugar free Assorted Confectionery {See DGFT Public Notice No. 94(RE-2010) in what’s new} *  SION of Biscuits revised – Change in description of product and inputs more specifically mentioned {See DGFT Public Notice No. 93(RE-2010) in what’s new} *  SION notified for ‘Instant Fruit Juice Powder/Crystals’ both with sugar and without sugar in Food Products in the HBP Vol-II {See DGFT Public Notice No. 92(RE-2010) in what’s new} *  Globally networked customs, need of the hour *  Bollywood to shut down on Feb 23 *  Kingfisher partly clears its service tax dues of Rs 70 cr *  Hopeful of achieving Budget estimate, says CBEC chief *  Dairy sector seeks duty cuts to spur growth, demand *  SC judgment to end policy paralysis, bring clarity: experts *  Services sector expands at fastest pace in 6 months *  Branded diesel may get cheaper as govt plans excise duty cut *  Mercedes-Benz opposes higher excise duty on diesel cars *  Few gaps in India-EU trade need to be closed: Sharma *  Mines Ministry for exporting all types of iron ores *  Cenvat Credit of Service tax on Repair and maintenance service utilized for windmills situated outside factory for producing electricity – admissibility of {See PJ/Case Laws/2011-12/1506 in what’s new} *  Whether bar of unjust enrichment applicable to refund claim of duty paid on short landed goods? {See PJ/Case Laws/2011-12/1503 in what’s new} *  Penalty for Non-payment of Service Tax - not imposable when reasonable doubt existed regarding levy of service tax {See PJ/Case Laws/2011-12/1501 in what's new} *  Clandestine Removal - Demand order passed on the basis of presumptions and assumption without examining basic facts not sustainable {See PJ/Case Study/2011-12/43 in what's new} *  ‘Fused Silica’ classifiable u/tariff item 32074000 & Fused Silica in tube form, rods or tubes, unworked, classifiable u/tariff item 70023100: CBEC clarifies {See Customs Circular No. 3/2012-Cus in what’s new} *  Tariff value of Gold increased from US$ 526 to US$ 556/10 gms + TV of Silver increased from US$ 953 to US$ 1067/Kg {See Customs Non-Tariff Notf. No. 10/2012-Cus(NT) in what’s new} *  Refund claim - Area based exemption - filing of statement under Notification only procedural condition - refund not deniable when periodical returns filed {See PJ/Case Laws/2011-12/1492 in what's new} *  Finance Ministry to take a call on hiking excise on diesel cars *  IBA working on roll out of online transmission of BRCs: DGFT  

Comments

  • Chandramaulin Rajpara on 26 Jan, 2012 wrote:

    What would be the position of the above case after amendment in Cenvat Credit Rule effective from 1-4-2011

    PJ/Case Laws/2011-12/1499

  • SAJJAN RAJ MEHTA on 25 Jan, 2012 wrote:

    keep in touch.i am from Jodhpur but settled at bangalore

  • NIRANJAN SINGH on 25 Jan, 2012 wrote:

    I have paid the 4% addl.dity and CVD on imports by partly through debiting of DEPB licence and partly by Cash. Can I avail CENVAT credit on the the sa  ...

  • Pratik Patel on 22 Jan, 2012 wrote:

    Respected Sir. We have purchase Raw Material from HALDIA Petrofils. We have got the RM with Excise Duty, also they have charged Freight Charges + Se  ...

  • S.L.Bansal on 08 Jan, 2012 wrote:

    The Dy. Commissioner should be asked to explin for such high handedness and abuse of power.

    PJ/Case Laws/2011-12/1470

  • jayant on 08 Jan, 2012 wrote:

    send the Judgement copy of High court Madras in case of Meidone Global entertainment Limited regarding Service Tax on Film Distribution

  • CA. Umesh Gehlot on 05 Jan, 2012 wrote:

    If possible then give a link of original notification which now modified.

  • ca heman tdewani on 29 Dec, 2011 wrote:

    it is good for new ca's who want good knowledge in the respective topic hope u will solved our query in short

  • S.L.Bansal on 24 Dec, 2011 wrote:

    It is a good judgment but the experience shows that officers are not following Supreme Court judgment in the case of D.K.Basu Case and are not allow  ...

  • Rahul Jain on 21 Dec, 2011 wrote:

    Thank You

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