Daily Tax Update - July 20, 2013 Central Excise: ----------------- Penalty - fist stage dealer / second stage dealer - Since appellants have not received the goods from manufacturers, it was their duty not to pass on the credit to the subsequent buyers or the manufacturers - penalty confirmed - Tri Cenvat Credit - transportation of cement used for repair/ renovation within the mines is very much under this definition of input services - Cenvat credit in respect of GTA services for bringing the cement inside their factory allowed - Tri Merchant Overtime charges (MOT Charges) - there is no case for MOT charges in respect of service provided by Central Excise officers during the normal working hours - Tri Cenvat credit - Once a High Court declares a law, whether the Revenue accepts the same or not, the same is binding on the Revenue authorities unless the same is challenged by them and is set aside by the higher appellate forum - Tri Service Tax: -------------- Club Membership - Section 65(25a), Section 65(105) (zzze) and Section 66 as incorporated / amended to the extent that the said provisions purport to levy service tax in respect of services purportedly provided by the petitioner club to its members, to be ultra vires - HC Refund claim - Notification No.17/2009 - it is clear that receipt submitted by the courier agency does not content the details as required under the notification - refund claim was rightly rejected - Tri Penalty u/s 76, 77 and 78 - It is not their case that they have paid tax and interest on their own - provision of Section 73(3) are not applicable when ingredients of Section 73(4) are present - Tri Installation of plant, machinery or equipment was covered in the definition from the very beginning and it is very difficult to distinguish that heating system, ventilation system & AC system is different from heating plant, ventilation plant and AC plant. - Tri FEMA: ------- FDI - foreign investment - Lifting of Corporate Veil - in a given situation the authorities functioning under FERA find that there are attempts to over-reach the provision of Section 29(1)(a), the authority can always lift the veil - SC FDI - foreign investment - the purpose for which the company had sought for foreign collaboration was not for trading in gold coins either for export or domestic purpose, but for the activities mentioned in the NIC Code 893 - Company has violated the provisions of FERA - SC Source: dailytaxupdates.blogspot.in/2013/07/dailytaxupdate20072013.html
Posted on: Sat, 20 Jul 2013 07:34:17 +0000
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