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Flash sale price acceptable for Customs valuation purposes: WCO

20th June

The Technical Committee on Customs Valuation at WCO has at its 48th Session recently adopted an instrument (Advisory Opinion 23.1) on valuation of goods purchased in a flash sale.

Reiterating transaction value as primary basis under the Agreement on Implementation of Article VII of GATT 1994, Committee concluded that highly discou...

IGST not payable on supplies from Duty Free Shops at International Airport

11th June 2019

Allahabad High Court has, in a PIL, held that supply of imported goods to Duty Free Shops (DFS) and from DFS at international airport do not attract any customs duty or IGST.

The Court in this regard noted that the effective taxable event for levy is when the Bill of Entry is filled, whereas here goods do not cross the custom...

Kerala Flood Cess will be imposed from 1st of July 2019

11th June 2019

Kerala Flood Cess on intra-State supplies of certain goods and services in the State of Kerala will be imposed from 1st of July 2019 for the period of two years.
This Cess was earlier proposed in the Kerala Finance Bill 2019 and is for the purpose of providing reconstruction, rehabilitation and compensation n...

FAQs on Real Estate Sector released

09th May 2019

Ministry of Finance has on 7-5-2019 issued FAQs in respect of recent amendments made for the real estate sector which have come into force from 1st of April 2019.

FAQs released under F. No. 354/32/2019-TRU, dated 7-5-2019 clarify on some 41 questions relating to the new regime with reduced rate of GST.


DGAD findings can only be interfered with if there is procedural illegality

8th April

Delhi High Court has refused to interfere, under Article 226 of the Constitution, with DGAD final findings recommending non-imposition of Anti-dumping duty on AA Dry Cell Batteries imported into India from China and Vietnam. The Designated Authority had recorded a positive disclosure statement and contradictory to it, rendered negative final fin...

NCCD exemption available to units exempted from Excise duty

29th March

Supreme Court of India has held that manufacturing units in special categories states which were exempt from Central Excise duty would also be exempt from National Calamity Contingent Duty (NCCD), since NCCD is of the nature of an excise duty. 

The court in the case of Bajaj Auto Ltd. v. UOI held that same view on t...

Appeal proceedings against defunct company not infructuous

27th March

The departmental appeal before the jurisdictional High Court was dismissed by terming it ‘infructuous’, on the sole ground that since the assessee company’s name had been struck-off from the Register of the Company u/s. 560(5) of the Companies Act, 1956, it stands dissolved and the issue need not be decided.  

34th Meeting of GST Council – New regime for residential realty sector

21st March

GST Council in the 34th meeting held on 19-3-2019 has decided on the modalities of implementation of GST rate of 1% in case of affordable houses and 5% on construction of houses other than affordable houses.

According to the press release, a one-time time-bound option will be provided to promoters to continue to pay GST at the ol...

State enactment for saving VAT recovery post GST, valid

20th February

Kerala High Court has held that Kerala VAT Act does not stand fully repealed with the 101st constitutional amendment and that the State has legislative powers to enact saving clause under Section 174 of the Kerala GST allowing department to levy and recover VAT for transactions prior to GST.

It rejected the plea tha...

Advance authorisation - Removal of pre-import condition for IGST exemption

11th January

Pre-import condition to avail exemption from IGST and Compensation Cess for imports under Advance Authorisation has been removed.

CBIC Notification 01/2019-Cus., dated 10-01-2019 in this regard amends Notifications Nos. 18/2015-Cus. and 20/2015-Cus., where an additional condition has however been inserted in respect of imports ...

No Real Estate Agent service even if land sold not owned

19th December 2018

In a case involving alleged real estate agent service, CESTAT Delhi has rejected department’s plea that since the land sold was not in the name of assessee, it was not a transaction for sale or purchase of land.

It held that for a principal to principal transaction for purchase and sale of land, it is immaterial whe...

DFIA exports – Specifications of imported inputs to be declared on Shipping Bill

13th December 2018

Delhi High Court has allowed Revenue department’s appeal in a case involving DFIA exports. Department’s plea that the exporter was required to make declaration of technical characteristics, quality and specification on the shipping bills, of its inputs, and not the export products, as listed in Para 4.55.3 of FTP Handbook of...

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