Issue: Classification under Central Excise Tariff Act, 1985 Facts: Aggrieved by the orders passed by the Hon’ble CESTAT wherein it was held that the coconut oil manufactured and packed in “small containers” by the Assessees is classifiable under Heading 1513 (coconut oil) and not under Heading 3305 (hair oil) of the Central Excise Tariff Act, …

1. Many assesses are facing peculiar issue at the time of reversal of input tax credit. 2. Where an assessee has wrongly carried forward cenvat credit as CGST credit in GST TRAN-01 or has availed excess of only CGST credit in GSTR-3B and is now willing to reverse the same either suo moto or on …

Return has been simplified by reducing the content of the return and implementation. The key elements of the new mechanism are as follows: (i) One monthly return for all taxpayers except composition dealers and dealers having ‘Nil’ transaction. Return design will be simplified and tax payers shall be also given user friendly IT interface and …

Issue:    Classification under KVAT Act, 2003 Facts:  Petitioner was aggrieved by the order by Commissioner of Commercial Tax under Section 59(4) of KVAT, 2003 in which it was held that blood collection monitors, blood storage refrigerators, platelet agaitators with incubators, plasma expressers, plasma and cyrobath will come under the Residuary Entry under Section 4(1)(b)(iii) and …

The Government of India under the Finance Act, 2018 introduced a cess namely ‘Road and Infrastructure Cess’ under section 109 and 110 of the Finance Act, 2018 to be collected and levied on specified imported goods and on excisable goods as specified in the Sixth schedule of the said Act. The said goods are motor …

Meaning of ‘Benami Transaction’: Purchase or holding of properties in the name of another is known in India, as a “Benami transaction”. The word ‘Benami’ literally means ‘without name’. The essential legal characteristic of these transactions is that there is no intention to benefit the person in whose name the transaction is made. The Benamidar …

Social Welfare Surcharge has been introduced for the first time under the Finance Act, 2018. It is an additional charge on import of goods being levied under clause 108 of the Finance Bill (Act), 2018 to fulfil the commitment of the Government of India to provide and finance the education, health and social security.  The Social …

Recent data from GST data analytics revealed that only 16% of the summary sales returns in Form GSTR-1 matched with the final returns in Form GSTR-3B for the period July to December 2017. On the recommendations of GST Council, the Revenue Dept. has started to analyse major gaps between self-declared liability and the taxes actually …

The issue of blocked IGST refunds due to various mismatches in case of Exports on payment of IGST was long pending. The biggest reason for such blockage was mismatch in invoice data between Customs EDI System, i.e., Shipping Bill details and GST Network data, i.e., details of Table 6A of GSTR-1. Procedure for resolution of …

Implementation of electronic sealing for containers by exporters under self-sealing procedure has been prescribed by circular 26/2017-Cus dated 1.01.2017, 36/2017-Cus, dated 28.08.2017 and 37/2017-Cus dated 20.09.2017. The revised procedure of the CBEC vide Circular No. 41/2017-Customs dated 30 October 2017 has been notified and the said procedure is to be finally implemented from 8th November 2017. Some …