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SC says no restrictions on voluntary name banners along Kanwar route eateriesNew Capital gains regime: CBDT issues FAQsFM favours debt reduction but sans affecting economic growthMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBDGFT simplifies EPCG Scheme procedures to enhance Ease of Doing BusinessKargil Victory Day: PM warns Pak against practising terrorismMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBPM GatiShakti Group evaluates five key infrastructure projectsMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBLadakh's Budget has increased from Rs 1100 Cr to Rs 6000 Cr in last 5 yrsChina pumps in subsidies worth USD 41 bn into car sectorCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SCIndian Coast Guard rescues 14 Indian crew from stranded vessel near AlibaugObama endorses Kamala Harris for PresidentI-T- Demand notice issued mechanically merits being quashed, where passed in ignorance of assessment order giving clean chit to assessee: HCIndia discovers Lithium Resources in Mandya and Yadgiri districts of KarnatakaIndia's installed Nuclear Power Capacity to triple by 2031-32: MoSGoyal sets USD 50 bn target for footwear industry to achieve by 2030Indian-origin German citizen nabbed with 6 kg of cocaine at IGI AirportAI-based SearchGPT to compete with Google: OpenAIBiden to attend QUAD meeting to be held in New Delhi this year

MESSAGE BOARD

   

Credit on outward transportation - clarification to put an end to futile litigation


Place of removal - prolonged interpretation

Well discussed from the origin to present status. Even after Ispat Judgment, the referred two CBEC Circulars are not withdrawn

Now the moot question is whether one has to follow Board Circular or Supreme Court Judgment in respect of FOR sales. Naturally country’s higher court only. But we have Roofits case also -2015-TIOL-87-SC-CX where Supreme Court considered Customer destination as the place of removal subject to bearing of all expenditures after clearance from factory by the buyer

Further Department cannot issue notice as they are bound by referred Board circulars. Let us hope the coming Budget will make full stop to this play of words and give clarity to one and all



govindan_mani govindan_mani 25/02/2016

 

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