Home Highlights September 2012 Year 2012 This

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1. Classification of manufactured goods - Potato Flakes - the subject goods are classifiable under Tariff Item No. 11052000

2. Valuation of goods - method of valuation - sale of goods from depot / customer care center - It is found that the form in which the goods have been sold at depot are in...

3. This circular modifies the framework for valuation of investment portfolios of Alternative Investment Funds (AIFs). Key changes include: Valuation of securities covered...

4. Valuation - metallic - reduction of value of bought out items supplied with manufactured goods - There is no legal requirement that any bought out items are to be...

5. Rate of VAT - TNVAT - the trade mark registration is meant for the restaurant as well as the products manufactured by it and when the activity of service for providing...

6. Valuation - inclusion of bought out items in assessable value - The nuts and bolts etc. are optional item which is sold as a bought out item to the customers, which is...

7. The notification amends serial number 8 of the Integrated Goods and Services Tax (IGST) rate notification. It inserts a new item (ivb) under column (3) for...

8. This notification amends various earlier customs duty notifications by making changes to the tariff item entries, descriptions, and rates of duty applicable to certain...

9. Classification of goods - Benefit of exemption from GST - parts & accessories suitable for use solely with the hearing aids - the exemption is applicable only to the...

10. Valuation - non-inclusion of value of Bought Out items received at site - If there was any undervaluation of these items then the demand of duty should have been made on...

11. Exemption from the Social Welfare Surcharge (SWS) - The amendment made by Notification No. 20/2024-Customs adds a new item to the list under Serial No. 57 in the table...

12. CENVAT Credit - exempted goods as scrap produced in process of manufacture of dutiable good - demand @ 6% of the value of the zinc scarp - when the zinc scrap which is a...

13. Classification of goods - stationary items or not - marker as well as highlighter can fall within the meaning of a pen and by highlighter as well as marker one can...

14. Import of restricted goods or not - capital goods - It is clear from the definition of capital goods that any plant, machinery, equipment or accessories required for...

15. This notification from the Central Board of Indirect Taxes and Customs amends the previous Notification No. 12/97-Customs (N.T.) dated 2nd April 1997. It exercises...