CBIC Decides To Levy Anti-Dumping Duty On Synthetic Grade Zeolite 4A Imported From Thailand And Iran

The Central Board of Indirect Taxes and Customs (CBIC) has decided to levy anti-dumping duty on synthetic-grade zeolite 4A imported from Thailand and Iran.The Synthetic Grade Zeolite 4A falls under tariff items 2842 90 90, 2826 90 00, 2839 90 90 and 2842 10 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) which originates in, or exported from the Iran and Thailand and imported into India.The designated authority in its final findings concluded that the product had been...

CBIC Notifies Biometric-Based Aadhaar Authentication Through GST Seva Kendras Approved For Andhra Pradesh

The Central Board of Indirect Taxes and Customs (CBIC) has notified the biometric-based Aadhaar authentication through Goods and Services Tax (GST) Seva Kendras has been approved for Andhra Pradesh.At the 50th GST Council Meeting, which took place in New Delhi on July 11, 2023, it was suggested that a risk-based biometric Aadhar authentication pilot program be carried out in Gujarat and Puducherry. After the system's readiness is evaluated in the states of Gujarat and Puducherry, the state of...

CBIC Notifies Monetary Limits For Filing Appeals By Department Before CESTAT, High Courts And Supreme Court

The Central Board of Indirect Taxes and Customs (CBIC) has notified the monetary limits for filing appeals by the department before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), High Courts and Supreme Court.The Board has notified the monetary limit of Rs. 2 Crores for the appellate forum namely the Supreme Court.The monetary limit of Rs. 1 Crore is notified for High Courts.The monetary limit of Rs. 50 Lakhs is notified for CESTAT.The Adverse judgments relating to various...

GST Council Can Recommend Rate But Can’t Determine Classification: Madras High Court Allows Parle Agro’s Petition Challenging Classification Of Flavoured Milk

The Madras High Court has allowed Parle Agro’s petition challenging the classification of flavoured milk.The bench of Justice C. Saravanan has observed that the GST Council cannot impose the wrong classification of “flavoured milk” as a “beverage containing milk” under the residuary item "non-alcoholic "beverages" under Subheading 2202 90 30 of the Customs Tariff Act, 1975.The petitioner/assessee, M/s.Parle Agro Pvt. Ltd., has challenged the decision of the Authority for Advance Ruling (AAR) in...

CBIC Lays Down Conditions For Filing GST Appeal After Limitation Period Is Over

The Central Board of Indirect Taxes and Customs (CBIC) has laid down the conditions for filing an appeal against the order in FORM GST APL-01.An appeal to the Appellate Authority under sub-section (1) of section 107 shall be filed in FORM GST APL-01, along with the relevant documents, either electronically or otherwise as may be notified by the Commissioner, and a provisional acknowledgement shall be issued to the appellant immediately.Special procedures under the Goods and Services Tax (GST)...

5% GST Applicable On Job Work For Processing Of “Barley” Into “Malted Barley”: CBIC

The Central Board of Indirect Taxes and Customs (CBIC) has clarified that 5% GST is applicable on job work for processing of “barley” into “malted barley”.The Board has issued the clarification in respect of the recommendations of the GST Council in its 52nd meeting held on October 7, 2023, in New Delhi with reference to the GST levy.The issue raised was whether job work for processing “Barley” into “Malted Barley” attracts 5% GST as applicable to "job work in relation to food and food products”...

GST Council Recommends Conditional Duration IGST Exemption To Foreign Flag Foreign Going Vessel When It Converts To Coastal Run

The GST Council recommends conditional and limited duration IGST exemption to foreign flag foreign going vessels when it converts to coastal run.Foreign-going vessels are liable to pay 5% IGST on the value of the vessel if it converts to a coastal run.GST Council recommends conditional IGST exemption to foreign flag foreign going vessel when it converts to coastal run subject to its reconversion to foreign going vessel in six months.Click Here To Read The Press Release

52nd GST Council Meet: Nil GST Rate For Food Preparation Of Millet Flour In Powder Form

The GST Council recommended nil rate for food preparation of millet flour in powder form and containing at least 70% millets by weight when sold in loose form.GST rates on “Food preparation of millet flour in powder form, containing at least 70% millet by weight”, falling under HS 1901, with effect from the date of notification. 0% if sold in other than pre-packaged and labelled form and 5% if sold in pre-packaged and labelled form."The GST Council want to participate in the Year of Millets. In...

GST Council Recommends To Keep ENA Used For Manufacturing Alcoholic Liquor For Human Consumption Outside GST

The 52nd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman recommended keeping Extra Neutral Alcohol (ENA) used for the manufacture of alcoholic liquor for human consumption outside GST.The Law Committee will examine suitable amendments in law to exclude ENA for use in the manufacture of alcoholic liquors for human consumption from the ambit of GST.To reduce GST on molasses from 28% to 5%. This step will increase liquidity...

GST Council Recommends Reducing GST On Molasses From 28% to 5% In Relief To Cane Farmers For Faster Clearance Of Dues And To Reduce Cost Of Manufacturing Cattle Feed

The 52nd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman recommends reducing GST on molasses from 28% to 5% in relief to cane farmers for faster clearance of dues and to reduce the cost of manufacturing cattle feed.Reducing GST on molasses from 28% to 5% will increase liquidity with mills and enable faster clearance of cane dues to sugarcane farmers. This will also lead to a reduction in cost for the manufacture of cattle...

52nd GST Council Recommends Amendments In Conditions Of Appointment Of President And Member Of Proposed GST Appellate Tribunals

The 52nd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman is in New Delhi today.The council recommended the amendments in conditions of appointment of president and member of proposed GST Appellate Tribunals.The Council has recommended amendments in section 110 of the CGST Act, 2017 to provide that an advocate for ten years with substantial experience in litigation under indirect tax laws in the Appellate Tribunal, Central...

IBBI Clarifies Interpretation Regarding Liquidator’s Fee Under Regulation 4(2)(B) Of Liquidation Process Regulations

The Insolvency and Bankruptcy Board of India (“IBBI”) has released a circular dated 28.09.2023, clarifying the interpretation and computation of the Liquidators’ fee under Regulation 4(2)(b) of IBBI (Liquidation Process) Regulations, 2016 (“Liquidation Regulations”). Brief background Regulation 4 of Liquidation Regulations provides for Liquidator’s fee. Regulation 4(1) and 4(1A) provide that the fee payable to the liquidator be decided by the Committee of Creditors (CoC) or...