Not a bonfide importer, Paid For Making Forged Licences To Clear Bills of Entry: CESTAT

The Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has found that the appellant has not paid duty to the government exchequer but instead paid a percentage of the amount equivalent to the duty to the firms for making forged licences to clear the bills of entry.The two-member bench headed by Justice Dilip Gupta (President) and P.V. Subba Rao (Technical Member) has observed that caveat emptor (buyer beware) is a well-established principle that requires the buyer of...

Tamil Nadu GST Department Issues Instructions For Initiation Of Action On Non-Filers Of GST Returns

The Tamil Nadu GST Department has issued instructions in respect of procedures for initiation of action against non-filers of returns under the Tamil Nadu Goods and Service Tax Act, 2017 (TNGST Act).If the registered person fails to file returns under Section 39, even after the expiration of the time limit in the notice issued under Section 46, the proper officer shall proceed to assess the tax liability under Section 62 for the person.The powers for cancellation of registration are vested with...

Time Period For Claiming ITC Extended: CBIC amends GSTR-9 Instructions

The Central Board of Indirect Taxes and Customs (CBIC) has updated the GSTR-9 instructions to reflect the extended time period for claiming Input Tax Credit (ITC).The words "April to September 2022" have been replaced by "April 2022 to October 2022 filed up to November 30th, 2022."The period for claiming Input Tax Credit (ITC) has been extended to November 30, 2022.The Board has notified the Central Goods and Services Tax (Third Amendment) Rules, 2022.The GSTR 9 is an annual return that must be...

Mandatory Registration is needed For Export Of Milk, Meat, Egg powder, Infant Food, Nutraceuticals : CBIC

The Central Board of Indirect Taxes and Customs (CBIC) has mandated the registration of foreign food manufacturing facilities for exports of milk, meat, egg powder, infant food, and nutraceuticals with effect from February 1, 2023.The Food Safety and Standards Authority of India (FSSAI) has decided that from February 1, 2023, registration of foreign food manufacturing facilities falling under specified food categories that are intending to export certain food shall be mandatory.The food category...

Employees' Contribution To PF And ESI Should Be Remitted Before The Due Date To Allow Income Tax Deduction: ITAT

The Banglore Bench of the Income Tax Appellate Tribunal (ITAT) has held that the employees' contribution to PF and ESI should be remitted before the due date for it to be allowable under Section 43B of the Income Tax Act.The two-member bench of George George K (Judicial Member) and Laxmi Prasad Sahu (Accountant Member) relied on the decision of the Supreme Court in the case of Checkmate Services (P.) Ltd. v. CIT, in which it was held that Section 43B(b) does not cover employees' contributions to...

Appeal By Assessee Prior To Declaration Under VSVS Act, Shall Revive On Failure To Pay the Tax Determined: ITAT

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that if the assessee violates the conditions prescribed under the Direct Tax Vivad Se Vishwas Act, 2020 (DTVSVS Act) by not paying the tax determined by the designated authority, the appeal filed by it prior to filing a declaration under the DTVSVS Act, disputing the tax liability raised against it, shall revive under Section 4(6) of the DTVSVS Act. The bench of V. Durga Rao (Judicial Member) and G. Manjunatha...

CESTAT Allows Interest On Delay In Refund Of Excess Reversal Of CENVAT Credit

The Ahmedabad bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has ruled that Reliance Industries is entitled to interest on delay in refund of excess reversal of CENVAT credit. The bench of Judicial Member Ramesh Nair dismissed the contention of the revenue department that since the assessee- Reliance Industries, was entitled to adjust the excess amount by taking credit suo moto under the CENVAT Credit Rules, 2004, which it had failed to do so, it was not...

DGFT Cannot Amend Foreign Trade Policy; Can't Restrict The Benefit Of SHIS Scheme: Madras High Court

The Madras High Court has ruled that the Director General of Foreign Trade (DGFT), in exercise of its power to clarify the doubts regarding the interpretation of the Foreign Trade Policy (FTP), as formulated by the Central Government, cannot amend the very policy itself. The single bench of Justice N. Sathish Kumar noted that the FTP 2009-2014 provided for grant of Status Holder Incentive Scrip (SHIS), an export incentive, to the entire Plastic sector. The Court held that the DGFT...

Import of High Risk Food Products Restricted To 61 Ports: CBIC

The Central Board of Indirect Taxes and Customs (CBIC) has restricted the entry of food items into specific ports.The Food Safety and Standards Authority of India (FSSAI) has decided that, with effect from February 1, 2023, imports of high-risk products shall be permitted only through 61 ports, which are directly manned and managed by FSSAI officials.The high-risk products include milk and milk products, egg powder, meat and meat products, including poultry, fish and their products, foods for...

Source of cash deposits can't be discarded if shown On Cashbook Entries: ITAT

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that a cash flow statement based on the entries made in the cash book reveals the source of cash deposited in the bank account and cannot be discarded by the authorities below.The two-member bench of Kul Bharat (Judicial Member) and N.K. Billaiya (Accountant Member) has directed the Assessing Officer to delete the addition of Rs. 7,65,000.The assessee/appellant preferred the appeal against the order framed by the National...

ITC Can't Be Availed By Housing Society On Works Contract Services Of Repairs, Renovations, Rehabilitation: AAAR

The Maharashtra Appellate Authority of Advance Ruling (AAAR) has ruled that the housing society is ineligible to claim input tax credit (ITC) on contract services received from their appointed contractor due to the housing society's ineligibility to claim ITC on repairs, renovations, and rehabilitation works.The two-member bench of Ashok Kumar Mehta and Rajeev Kumar Mital has observed that the society itself is not a work contract service provider, nor is it in the business of providing work...

Service Tax Leviable On Policy Administration Charges From 1 May, 2011: CESTAT

The Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that service tax is leviable on policy administration charges with effect from 01.05.2011.The two-member bench of Anil Choudhary (Judicial Member) and P.V. Subba Rao (Technical Member) has observed that in view of the clarification by the Board in TRU Circular dated 26.02.2010, 2010, policy administration charges are chargeable to tax under Section 65 (105) (zx). Thus, the department cannot be permitted...