Q : Assessee paid duty, fine and penalty under protest . On assessee becoming entitled to refund thereof, Tribunal directed Commissioner to pay interest at 12 per cent on “amount of refund .Whether interest on delayed refunds is payable on duty only or on fine and penalty also ? Interest on delayed refunds would be payable to… Read More »
Notification No.76/2015 CBEC has made Custom Duty Free Allowance to Rs.45000 for passengers of Indian origin and foreigners of over 10 year of age residing in India. Duty free limit of Indian Currency that can be brought in India has been increased from Rs.10000 to 25000 in FORM 1. [To be published in the Gazette… Read More »
Exchange Rate for conversion of foreign currency wef 21 August 2015 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 81/2015 – Customs (N.T.) Dated the 20th August, 2015 In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and… Read More »
Date of serving of order can not be counted to file appeal Q: Whether date of serving of order can be counted while computing time limit to file appeal ? Law : Service Tax In computing time-limit to file appeal under Act, date on which impugned order is served on assessee has to be excluded,… Read More »
CENVAT credit on Capital Goods when depreciation on duty element reversed in revised ITR Q: Whether CENVAT credit on Capital Goods will be allowed if depreciation claimed on duty element has been reversed in the revised income tax return ? Where depreciation was originally claimed on duty paid on capital goods but, later revised return… Read More »
Assessee couldn’t demand notice for increasing penalty when when he didn’t appear in proceedings Q Assessee did not appear before tribunal despite notice of revenue appeal . Can he claim that Tribunal should have issued another notice prior to enhancement of penalty ? Where assessee did not appear before Tribunal despite notice of revenue’s appeal, assessee cannot… Read More »
personal penalty on directors Q : Whether penalty can be imposed on directors, when issue involved is one of interpretation of law and there is no loss to the revenue ? Personal penalty under rule 26(1) of Central Excise Rules, 2002 cannot be imposed on directors, when issue involved is one of interpretation of law and entire situation… Read More »
Q : Whether daily wage earner can be an authorised agent of assessee ? Whether the service of order to the daily wage earner is valid ? Daily wager Kitchen boy cannot be said to be an authorised agent of assessee; hence, service of adjudication order on him is not a valid service as per… Read More »
Q : Whether the name of assessee on parcel containing smuggled goods will make him a smuggler ? Mere fact that speed post parcel containing smuggled goods bore name and address of assessee does not prove that assessee had smuggled such goods, especially when assessee had denied any such imports by him and there was no other… Read More »
Power of Section 18 of Customs Act cannot be exercised arbitrarily without a good reason to subject goods to any test – Supreme Court M/s Tata Chemicals Ltd. vs. Commissioner of Customs (Preventive), Jamnagar (Supreme Court), Civil Appeal No. 7439-7440 of 2004, Date of Pronouncement – May 14,2015. Brief of the case: The Hon’ble Supreme… Read More »