Home Highlights April 2012 Year 2012 This

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1. Changes in the Drawback Rates of Certain Export Goods - DBK schedule as amended

2. Rebate claim - effective rate of Central Excise duty was reduced from 10% to 8% - rebate is admissible of duty paid at effective rate of duty on 24-2-2009 i.e. @ 8% - CGOVT

3. Denial of rebate claim - Difference in AREs-1 value and FOB value given in the Shipping Bill - the rebate amount need not be changed if the difference in both values is...

4. Classification of imported garments (Girl’s/kids leggings) as girls' trousers or girls' pajamas - determination by expert opinion - confiscation and penalties imposed....

5. The assessee's request for fixation of special rate of brand-rate drawback was rejected due to non-fulfilment of basic requirements and time limitation. The assessee...

6. Claim of duty drawback - Reversal of Cenvat credit before utilization amounts to non-taking of credit that such reversal can be done subsequent to export of goods -...

7. Construction services for residential units less than 60 square meters attract 12% GST rate, reduced to 8% effective rate after deducting one-third value on account of...

8. Profit of eligible unit by on account Baggase Purchase u/s 80-IA(8) r.w.s. 80-IA (10) - Assessee’s manufacturing unit has sold “bagaase” to assessee’s power unit at Rs....

9. Claim of Duty Drawback on supplies from DTA to EOU - eemed export drawback - supplier being claim cenvat credit, the method / route for claiming duty drawback - via...

10. Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

11. The High Court quashed the reassessment notices issued u/s 148 and the consequent initiation of reassessment proceedings, ruling in favor of the assessee. The key points...

12. Royalty payable at reduced rate of 0.75% on FOB value upheld. Valuation of shares: AO directed to adopt projected growth rate of 19% as per assessee's valuation instead...

13. Sea Cargo Manifest and Transhipment Regulations, 2019 - Further Postponed till 1-8-20219

14. The Appellate Tribunal found the Appellant Company guilty of contravening u/s 9(1)(a) of FERA 1973 by making payments to a person outside India without RBI permission....

15. Disallowance of deduction u/s 80-IA(8) - computation of the market value or electricity - The High Court referred to a previous judgment and concluded that the market...