Legal & Tax Updates - 20.05.2010

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Circular No 924/ 14/2010-CX-Classification of rice parboiling machinery

Posted: 19 May 2010 07:52 PM PDT


It has been brought to the notice of the Board that classification of Rice parboiling machinery is being disputed in certain jurisdictions. Two tariff headings under consideration for its classification are 8419 or 8437. It has been represented...

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Circular No. 923/13/2010 – CX- Clarification regarding inclusion of cost of return fare of vehicles in assessable value

Posted: 19 May 2010 07:51 PM PDT


The Tribunal has in case of DCW Ltd. v. CCE [2007 (217) ELT 541 (Mad.)] held that " where onward freight was not includible in the assessable value of the excisable goods, there was no question of return freight being included in the assessable...

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Circular No. 922/12/ 2010-CX- Power of adjudication of Central Excise Officers- instructions

Posted: 19 May 2010 07:49 PM PDT


Please refer to Circular No. 752/68/2003-CX dated 01.10.'03 amended by Circular No. 865/3/2008-CX dated 19th February 2008 on the above subject. At present adjudication powers in Central Excise cases have been delegated upto the level of Assistant...

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Notification No. 22 /2010-Central Excise (N.T.) granting rebate of duty paid on the excisable goods on their exportation out of India

Posted: 19 May 2010 07:44 PM PDT


In exercise of the powers conferred by rule 18 of the Central Excise Rules, 2002 read with rule 14 of the Chewing Tobacco and Unmanufactured Tobacco Packing Machines (Capacity Determination and Collection of Duty) Rules, 2010, the Central Government...

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Online Excise Return and Statement filing obligation of First stage dealer, second stage dealer and manufacturer of final products from 1st June 2010

Posted: 19 May 2010 07:36 PM PDT


Notification No. 21 / 2010-Central Excise (N.T.), New Delhi, the 18th May 2010. G.S.R. (E).- In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the...

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Online filing of Excise Return and Statement mandatory from 1st June 2010

Posted: 19 May 2010 07:26 PM PDT


in rule 12, after sub-rule (2), after clause (a), the following proviso shall be inserted, namely:-"Provided that where an assessee has paid total duty of rupees ten lakh or more including the amount of duty paid by utilization of CENVAT credit in...

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Withholding tax obligation applies on payments to non-residents only if there is income chargeable to tax in India

Posted: 19 May 2010 07:17 PM PDT


The Special Bench of the Tribunal, departing from the Karnataka High Court's decision in the case of Samsung Electronics, rules that withholding tax obligation on payer applies on payments to non­residents only if there is income chargeable to tax...

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ITAT Delhi ruling provides guidance for ascertaining arm's length price of an international transaction under TNMM

Posted: 19 May 2010 07:14 PM PDT


Established in September, 2001, IL Jin Electronics (I) Pvt. Ltd. (IL Jin/ Taxpayer) is engaged in the business of manufacturing & selling printed circuit boards for consumer durables. It commenced commercial production in January, 2002. During...

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Procedure for VAT registration under Punjab VAT Act 2005

Posted: 19 May 2010 07:05 PM PDT


Who is required to get registered as a VAT Dealer under Punjab VAT Act 2005? Every person, except a casual trader and one dealing exclusively in goods declared tax free, whose gross turnover during the year exceeded the taxable quantum, as provided...

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Intellectual Property & Intellectual Property Rights – Boon or Bane for society

Posted: 19 May 2010 02:27 AM PDT


Intellectual property (IP) is the innovative creation by individuals out of his own ingenuity. IP pertains to literary, artistic performance of performing artistes, phonograms, and broadcasts, inventions in all fields of human endeavor, scientific...

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VAT Cir – 18T of 2010 – Amendment to Maharashtra Value Added Tax Rules, 2005

Posted: 19 May 2010 01:04 AM PDT


To give effect to announcement in the Budget Speech of Hon'ble Finance Minister for the year 2010-11, amendments have been made to the Maharashtra Value Added Tax Rules, 2005, published in the Official Gazette referred to above. ...

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With Regards, 
CA Sandeep Kanoi 
Website: http://www.taxguru.in/ 
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