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VAT - If notice for completing assessment issued within limitation, then assessment order is within time even if passed beyond period of three years: HCGST - Cancellation of registration of GST has cascading effect on all other businessman who are receiving the goods from the registered person - Delay in filing appeal is condoned as petitioner has already made pre-deposit: HCGST - Impugned order was not reflecting under the tab 'view notices and orders' - Consequently, petitioner being unaware of the same could not contest validity within limitation period - Order set aside: HCGST - Respondents are well within their rights to levy GST on the royalty paid by the mineral concession holder for any mining concession granted by the State: HCDRI canon - Sleuths in SnagACC appoints two new Members for CBICJharkhand Assembly polls – voting underway for 43 seatsIndia-Russia discuss cooperation in Pulses tradeMHA tells House Panel that only 38 civilians lost their lives in North-East in 2023; skips mention of ManipurBoost for Make in India - Integrated Manufacturing Cluster coming up at GayaBangladesh seeks help for Interpol for arresting ousted PM HasinaNFRA recomments revising SCQ1, SQM1 & SQM2 standardsElon Musk, Vivek Ramaswamy to run new Department of Government Efficiency in USAPFRDA invites bid for System Integrator for PFRDA Connect websiteTaliban appoints Ikramuddin Kamil as Acting Consul at MumbaiWith 11% growth, PSBs perform well in 1st half of FY 2024-25CBIC notifies Customs Tariff rates for Gold, Silver and crude oilCBDT notifies PNG Regulatory Board under Section 10(46A)(a) of I-T ActCBIC notifies ICD at Jajpur, OdishaI-T - Non-addition of any income on account of same being interest commensurate with TDS deposits, or making further enquiries would not confer PCIT with jurisdiction to pass an order u/s 263 : HCI-T - If there is settlement arrived at between members of Hindu undivided family, then cost with reference to acquisition of property would have to be assessed as per Sec 49(1)(i): HCI-T - Joint venture undertaking which was awarded a contract for full-fledged development of Airport, can be said to be 'developer' eligible for deduction u/s 80-IA(4): HCI-T - If tax is deductible at source, then assessee shall not be called upon to pay tax himself to extent to which tax has been deducted from that income: HCI-T - Revenue authorities are not justified in continuing retention of books of accounts and other documents contrary to provision of Sec 132(8): HCI-T- Power of revision is unwarrantedly exercised where it is based on incorrect assumption of facts: ITATST - Software imported and sold by the Appellant is import and sale of goods and is not exigible to service tax: CESTATST - Once Appellant had paid VAT on the sale of goods, service tax cannot be demanded on such sale of goods: CESTATST - Burden of proving that assessee suppressed facts with intent to evade payment of Service Tax is clearly upon the Department; is necessary for the Department to illustrate any positive act of suppression on assessee's part: CESTATCus - Where imported motor vehicle is registered & certified for compliance with Central Motor Vehicle Rules , then separate EC Type Approval Certificate under Import Licensing Note to Chapter 87 of Customs Tariff Act 1985, is not needed: CESTATCus - Substantial benefit of tax exemption cannot be denied based on procedural lapse alone; confiscation of imported vehicle is not tenable where no mis-declaration of description or classification or quantity, is involved: CESTAT

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Beware - More Facilitation Coming - CENVAT Invoice Verification


Cenvat verification

While endorsing with all apprehensions on the way of implementation of verification of the Cenvat invoices,it has to be conceded that the credit in cenvat account being in lieu of cash remittances,there is a strong case to ensure the correctness of credit availed. When the NIC was doing the computerisation work on SERMON I recall in 1994-95,at our initiative the NIC officer in Cochin had evolved a software by which we could verify the credit taken online.We had a good number of DOUBLE credit,fraud invoices etc involving even BIG gun units.Somehow,very soon ,it had a natural death.In other words,if the dept can insist and ensure that all the details of clearence and Dealer invoices,the online verification can be easily done.Earlier,alongwith RT12 returns,copies of hundreds of invoices were to be filed and as stated in DDT,the Annexure D verification of modvat was being done .Now in the E-return format,dept can insist to upload all clearence invoices with details ;similarly all the details of cenvatted invoices .This woud facilitate the verification online simple and effective.In Kerala,the VAT dept has a beautiful effective software,where the VAT credit is being entered just by name of supplier ,regn numberand invoice number,the rest of the dtails will appear on screen.In case of fraud or incorrect invoices,the details can be seen by dealers then and there.Similarly,VAT dept can also monitor and verify the credit details.I wish the CBEC may evolve a system,if necessary after gathering the details from Kerala VAT dept.When the details of invoices to be uploaded with E returns are insisted ,the trade and industry can not have any room for complaint.

Unnikrishnan V 13/08/2014

 

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