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COP28: Saudi Arabia joins other oil companies to whipsaw methane US, Israel warn of cyber attacks against industries by Iran-backed hackers WTO welcomes steel Standards principles for decarbonisation The 'leaning' Garisenda tower in Italy on cusp of collapse: Report India-U.S. Industry leaders renew vows for commercial ties CX - Assessee purchased transformer oil for use in factory & only for convenience, transported such oil in barrels along with finished products - This does not entail that transformer oil is being cleared as such - Demands seeking reversal of Cenvat credit availed on transformer oil, rightly quashed: CESTAT Cyclone 'Michaung' to hit Bay of Bengal; NCMC gears up ST - Since the impugned order has travelled beyond SCN and has been passed on a new ground, same is not sustainable: CESTAT Power Minister inaugurates Conference on 'Energy Transition in India'Roundtable on MICE tourism: Digital asset sharing is critical DGFT notifies caps for export of broken rice & wheat flour through NCEL 6 die after consuming Ayurvedic cough syrup in Gujarat; 7 arrested Govt appoints Sandip Garg as Whole Time Director of IBBI Assam suspends 21 officials in ‘cash for job’ scandal SpaceX launches South Korea’s first spy satellite Republicans urge Biden to ban China travel over mysterious respiratory disease GST mop-up for Nov month veers around 1.68 lakh crore Delhi Customs registers case of illegal import of foreign-origin cigarettes PM proposes to host COP33 in 2028 in India Paddy harvesting season witnesses significant decrease in stubble burning Secondment of employees and Service tax CBIC amends tariff value of edible oils, gold & silver

MESSAGE BOARD

Don't let ONGC Petro additions Ltd. turn into a failure

Selecting the right combination of schemes

Sir,
I read your insightful article. If the authorities have agreed in-principle to convert its status from SEZ unit to one in DTA, the option to convert to EPCG may again impose newer obligation to export. In this scenario, i am inclined to suggest MOOWR scheme (right away) and get freedom from obligations to export output. A MOOWR unit stands to loose AIR (of drawback) if the Company has been enjoying on exports. The option to exercise EPCG on certain capital installations, if finally by the DGFT, can still be exercised anticipating the extent of foreseeable exports. MOOWR scheme works mostly under the Customs procedures and can co-run EPCG, Advance authorization (for inputs) etc. from same premises.

-rajesh ingale

Raveendra Pethe 03/09/2023

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TIOL Tax Congress 2023 - Technical Session on 'Taxation of New Age Digital Industry'

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October 2023 Edition

December 02, 2023 | New Delhi

WTO welcomes steel Standards principles for decarbonisation

December 02, 2023 | New Delhi

India-U.S. Industry leaders renew vows for commercial ties

December 02, 2023 | New Delhi

Cyclone 'Michaung' to hit Bay of Bengal; NCMC gears up

December 02, 2023 | New Delhi

Power Minister inaugurates Conference on 'Energy Transition in India'

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Technical Session 5 of TIOL Tax Congress 2023: GST – Second-Generation Reforms, including Technology.

December 01, 2023

TP - Turnover is relevant criteria for choosing companies as comparables in determining ALP in Transfer Pricing cases: ITAT

December 01, 2023

I-T- CUP method can be adopted as most appropriate method in the case of the assessee owing to differences on account of volume, geography, functions performed and risks assumed : ITAT

December 01, 2023

PMLA - Offence of criminal conspiracy punishable u/s 120B IPC will become scheduled offence under PMLA Act only if conspiracy alleged is of committing offence which is specifically included in its Schedule: SC

December 01, 2023

SARFAESI Act - Petitioners do not have any right in respect of property if claim is premised solely on basis of Agreement to Sell and that too entered after mortgage is created: HC

TIOL Tube brings you an interview with former US Secretary of Treasury, Mr. Larry Summers who was recently in Delhi.

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