- 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
- SC permits DRI probe into goods transshipped from Pakistan; Suspends HC’s SCN deadline
- SC dismisses Revenue’s SLP on dropping Rs. 125 cr service-tax demand over Airtel’s call free allowance
- SC : Upholds Cadbury's ‘Perk’ classification as ‘Wafer Biscuit’ entitled for concessional duty-rate; Dismisses Revenue’s appeal
CBEC decides that Principal Commissioners / Commissioners of Customs shall require importer to furnish "solvency certificate" from scheduled bank equivalent to amount of duty involved for purpose of storing goods in private bonded warehouse; However, in case of Central / State Government / UT administration / their undertakings, such solvency certificates shall not be required; Further clarifies that there will be no need to obtain such certificate in case of EOUs / EHTP / STPI units, as conditions regarding furnishing of bank guarantee / security are specified in Chapter 6 of FTP
Circular No. 24/2016-Cus dated June 2, 2016
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