Home Highlights May 2014 Year 2014 This

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1. Denial of CENVAT Credit - metal scrap cleared to job worker without payment of duty - Department was of the view that the metal scrap (steel scrap and brass scrap) is...

2. 100% EOU - Denial of benefit of exemption - violation of input output norms - excess generation of waste and scrap - The Tribunal, citing precedent and the...

3. Manufacture - process of cleaning of scrap rubber to crumb rubber - segregation of different types of rubber produced naturally - The conversion of scrap rubber into...

4. This notification to introduce reverse charge mechanism (RCM) on supplies of metal scrap under specified tariff headings. Any registered person procuring metal scrap...

5. Clearance of import of metal scrap - Procedure

6. Eligibility for the benefit of Section 10B - the scrap and spent solution are part of the manufacturing process - exemption allowed - HC

7. Manufacture u/s 2(f) - manufacturing of stainless steel from metal scrap - Processing of raw material into 'blended metal scrap' - Sorting grade wise -...

8. Levy of duty on Scrap - metal scrap were generated out of scrapping of the capital goods (Machinery and components) -when the scrap had not arisen out of manufacture, no duty - HC

9. Valuation of imported goods - undervaluation of Zinc and aluminium scrap imported - The circular only provides for average price difference between the price of prime...

10. This notification amends the Central Goods and Services Tax Act, 2017 to mandate tax deduction at source (TDS) compliance for supply of metal scrap between registered...

11. The notification amends the earlier Notification No. 5/2017-Central Tax to exclude persons engaged in the supply of metal scrap falling under Chapters 72 to 81 of the...

12. Deduction u/s 10B - 100% EOU - Incidental income derived from the sale of scrap - The section does not require that the profits and gains derived should be from the...

13. Import policy - Changed from Free to Restricted - WASTE AND SCRAP OF PRECIOUS METAL OR OF METAL CLAD WITH PRECIOUS METAL; OTHER WASTE AND SCRAP CONTAINING PRECIOUS METAL...

14. Removal of gold Sludge without payment of duty - waste and scrap of containing precious metal or precious metal compounds - demand of duty confirmed - penalty waived - AT

15. Item sold in scrap i.e. Tin, iron scrap, plastic drum etc. is not scrap generated from manufacturing process - No liability to deduct TCS U/s 206C - AT