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GST in India – ‘Supply’ defined

15 June 2016

The taxable event for levy of Goods and Services Tax (GST) is ‘supply’ and hence Section 3 of the Model GST Act, released by the Finance Ministry yesterday (14th June 2016), covers the meaning and scope of ‘supply’.

The specific inclusions under the term ‘supply’ are as under: ...

GST Model Law in India – Credit mechanism specified

15 June, 2016

Model Goods & Services Tax Act has been released by the Indian Finance Ministry on 14th of June. The Model Law amongst other details also provides mechanism for taking Input Tax Credit (ITC) in respect of defined inputs, capital goods and input services. The terms inputs and input services have been defined in a wide manner to cover g...

India prepares for GST – Model Act released

15 June 2016

The Model Goods & Services Tax (GST) Act as prepared by the Empowered Committee has been released by the Indian Ministry of Finance on 14th of June.

The Constitutional (One Hundred and Twenty-Second) Amendment Bill, 2014, to empower the Indian government to levy such tax, which will subsume presently levied Centr...

Exemption for supply to R&D establishment

19 May 2016

CESTAT Mumbai has allowed benefit of Notification No. 10/97-C.E. to air-conditioning and refrigeration equipment supplied to Research & Development Organisations namely, Vehicle Research & Development Establishment, and the Electronic & Radar Development Establishment, when the AC system were specially designed and modified, by the...

Lease equalisation levy is not consideration and not liable to Service tax

19 May 2016

To qualify as ‘gross amount charged’ there must be a payment and it must be in the nature of a consideration for a service. The Tribunal in the case of Reliance Infratel Ltd v. Commissioner has held that amount for ‘lease equalisation levy’ which had been entered in the books of accounts of the assesse...

India-Mauritius Double Taxation Avoidance Convention re-cast

17 May 2016

As per Procotol signed on 10-5-2016, India and Mauritius have agreed to certain amendments in the ‘Agreement for avoidance of double taxation and prevention of fiscal evasion with Mauritius’ (DTAC) between the two countries. The DTAC originally signed on 24-8-1982 had been subject to much debate and India was trying to re-negotiate...

DRI officers not empowered to issue notices for imports before 8-4-2011

4 May 2016
The Delhi High Court has held that officers of Commissionerates of Customs (Preventive), Directorate General of Revenue Intelligence (‘DRI’), Directorate General of Central Excise Intelligence (DGCEI) and similarly placed officers, do not have jurisdiction to issue show cause notices under Section 28 of the Customs Act, 1962, in respe...

‘Integrated Declaration’ under the Indian Customs Single Window project

15 April, 2016

In furtherance to the Indian Customs Single Window project, wherein online permissions are being obtained from various govt. agencies, the CBEC has developed ‘Integrated Declaration’, under which all information required for import clearance by the concerned government agencies has been incorporated in the electronic format of bill of e...

Power to extend period for passing assessment order to be exercised within limitation period

15 April 2016

Supreme Court of India has held that when the normal period of limitation for passing assessment order by the Assessing Officer was three years, as per the provisions, the power to extend the period could be exercised within the said period of three years and not after the expiry of this limitation period.

The dispute [State of Pu...

BSS not covers procurement on behalf of group companies under cost sharing arrangement

15April 2016

CESTAT, Mumbai has held that when services are procured for use by several group companies, Valuation Rules do not stipulate any condition as to one on one identification of service recipient and service provider in order to fall within the ambit of 'Pure Agent'.

In the instant case, the assessee procured various services for u...

Valuation – Cost of process carried out at job-worker’s premises after clearance

14 April 2016

The Supreme Court has held that cost relating to bullet proofing of jeeps, undertaken outside the factory by job-workers after clearance of the not-yet bullet-proofed jeeps, is not to be included in the value of jeeps for the purpose of levy of Central Excise duty.

Affirming the Order of the CESTAT, the Apex Court in its order in the ...

Subsidies to reimburse cost incurred in manufacturing and selling products – Profits ‘derived’ from business

28 March 2016

Interpreting the term ‘profits derived from business’ the Supreme Court on 9-3-2016 held that as long as profits and gains emanate directly from the business itself, the fact that the immediate source of the subsidies is the Government would make no difference. The revenue department argued that deduction under Section 80–IB (for i...

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