- HC : Copy of Delhi HC-judgment holding redemption fine forms part of ‘duty, interest, penalty’ under SVLDRS
- SC : Rajasthan’s VAT exemption to locally manufactured Asbestos-Sheets & Bricks, discriminatory under Article 304(a); Strikes-down Notification
- SC upholds tax on ink & chemicals utilized in lottery-ticket printing under works contract
- SC : Ink & chemicals used in lottery-ticket-printing under works-contract taxable as 'sale'; Finds tangible transfer
- SC : Upholds ITC benefit for purchaser-dealer despite selling-dealer's failure to deposit tax
CBEC sensitizes field formations for preventing use of non-genuine transferable duty credit scripts / duty free import authorizations (DFIA); Reiterates inter alia that at pre-registration stage, field formations shall verify the genuineness from issuing authority through fast & reliable means and Customs Houses shall not do verification when scrip / DFIA is simultaneously received online through electronic transmission from DGFT; Calls for verification of not more than 5% randomly selected scrips for which EDI shipping bills details shall be viewed in-house without seeking documents from exporter; Where Customs Houses are not required to verify, registration should be ensured within 3 hours of presentation of reward scrip, and in other cases, a norm of registration within 1 day, excluding time taken at end of the Issuing Authority, should be adopted
Circular No. 12/2016-Cus dated March 28, 2016
To download click here