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SC to consider dutiability of cut-away HR coils as manufacturing 'scrap' / independent goods
July 20 2018
SC issues notice to Revenue in appeal against Delhi CESTAT decision which confirmed excise duty demand on HR coils that were cut away during manufacture of MS spirally welded pipes; While affirming th...View more
Units under 'Gujarat Textile Policy' entitled to refund on purchases from units availing tax-incentives
July 17 2018
Gujarat Govt. extends refund of VAT paid by ‘eligible units’ under 'Gujarat Textile Policy-2012' (Revised) on goods purchased from ‘eligible units’ availing tax incentives unde...View more

DGFT prescribes guidelines for EODC where Advance Authorizations are issued on net-to-net basis
July 16 2018
DGFT provides guidelines w.r.t. accountability of inputs for purpose of obtaining EODC where Advance Authorizations are issued on net to net basis of parts / components, in terms of Sl. No. 4 of Gener...View more
Delhi HC stays DRI notices to recover SFIS benefits from KPMG & SGS India
July 13 2018
Delhi HC stays show cause notice issued by DRI seeking to recover the customs duty defrayed by KPMG Global Services Pvt. Ltd. (assessee) using SFIS scrip on the ground that assessee did not promote In...View more

Company Director arrested for Rs. 3 Cr tax evasion; No punitive action against compliant taxpayers
July 12 2018
GST Officers arrest one Director of a Company for collecting but not depositing service tax to the tune of Rs. 3 crores; Arrest has been made in exercise of power u/s 91 of Finance Act, 1994 for viola...View more
Goa Govt. extends deadline for filing audited FY 2017-18 statement of accounts upto August 31
July 11 2018
Goa Govt. extends last date for filing of audited statement of accounts for FY 2017-18 under Goa VAT Act, up to August 31, 2018; However, such extension is not applicable to dealers of petroleum crude...View more

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SC : Dismisses Revenue SLP; Affirms credit eligibility for 'capital goods' support structures pre-2009 
July 16 2018
SC dismisses Revenue SLP, finds no legal and valid ground to interfere with Chhattisgarh HC decision that had allowed CENVAT credit in respect of goods like cement and steel items used for laying foun...View more
HC : Stays 'service tax' recovery on 'royalty' paid/deposited under Oilfields Regulation & Development Act 
July 19 2018
HC grants interim stay of service tax on 'royalty' paid/deposited under provisions of Oilfields (Regulation and Development) Act, 1948; Notes assessee’s reference to similar cases pending before...View more

DGFT prescribes guidelines for EODC where Advance Authorizations are issued on net-to-net basis
July 16 2018
DGFT provides guidelines w.r.t. accountability of inputs for purpose of obtaining EODC where Advance Authorizations are issued on net to net basis of parts / components, in terms of Sl. No. 4 of Gener...View more
HC : Allows 'TED' refund on non-ICB supplies to EOU for pre-FTP amendment period
July 17 2018
HC allows refund of Terminal Excise Duty (TED) in respect of goods (i.e. PVC insulated wires and cables) manufactured and supplied by assessee to 100% EOU under non-ICB route, in terms of Para 8.3(c) ...View more

HC : Allows refund, erroneous depiction of excess credit as carry-forward cannot preclude basic claim 
July 18 2018
HC allows refund claim of assessee, engaged in execution of works-contract, of excess credit which was inadvertently reflected as ‘carry forward’ in next tax period return instead of &lsqu...View more