TIOL CASES

2015-TIOL-2242-CESTAT-MUM + Story

CCE Vs UTTAM GALVA STEELS LTD: MUMBAI CESTAT (Dated: October 6, 2015)

CX - Valuation - s.4 of CEA, 1944 (before and after 01.07.2000) - Sales Tax Incentive deferment scheme & option to pay prematurely in place of the deferred tax amount, an amount equal to the NPV (Net present value) of the deferred tax - Revenue view that the differential between the deferred sales tax payable and NPV paid would form part of the assessable value is untenable - actual amount paid is equal to NPV (which is less than originally payable), cannot make the amount actually payable at the time and place of removal different, particularly when under Sales Tax Law such a payment is considered as deemed payment of the sales tax payable - Revenue appeals dismissed and assessee appeals allowed: CESTAT [para 35, 37, 38, 39, 43, 44, 47]

Revenue appeals dismissed/Assessee appeals allowed

2015-TIOL-2241-CESTAT-DEL + Story

SRF LTD Vs CCE: DELHI CESTAT (Dated: September 11, 2015)

ST - Refund - Notfn. 41/2007-ST - If the documents provide the necessary particulars as required under Rule 4A of STR, 1994, merely because the documents are debit notes the refund cannot be denied at the end of the service recipient - provider of services at port of export paying tax under BAS is no ground to deny refund by insisting that services ought to have been rendered under the head ‘port services' - Appeals allowed with consequential relief: CESTAT [para 8, 9]

Appeals allowed

DIRECTORATE OF INCOME TAX (SYSTEMS)

ITBA Instruction No 7

Creation of name based Email IDs for PAN users - Reg

CUSTOMS TARIFF NOTIFICATION

ctariff15_050

Export of NMDC-origin goods by MMTC to Japan & South Korea - 10% tariff to apply upto April, 2018

MIXED BUZZ

North Block, RBI & SEBI officials to meet FPIs representatives to discuss ease of doing business tomorrow