14 April 2016
The Supreme Court has held that cost relating to bullet proofing of jeeps, undertaken outside the factory by job-workers after clearance of the not-yet bullet-proofed jeeps, is not to be included in the value of jeeps for the purpose of levy of Central Excise duty.
Affirming the Order of the CESTAT, the Apex Court in its order in the ...
1 January, 2016
Pre-delivery inspection charges (PDI) and free after sales service charges, which are not charged by the manufacturers of vehicles from the dealers, are not to be included in the transaction value of the vehicles, on which the manufacturer has to pay Central Excise duty.
The Supreme Court has by its Judgement dated 15-12-2015, hence overruled ...
20 January, 2015
Ministry of Commerce and Industry has allowed dual use of non-processing area in the Special Economic Zones with effect from 2-1-2015. According to the newly inserted Rule 11A in the Special Economic Zones Rules, 2006, the non-processing area can be divided into two parts, wherein social or commercial infrastructure and facilities in one part can be used both by SEZ entities ...
By V. Sivasubramanian
Besides being a source of funding of public expenditure, taxes also enable influencing expenditure patterns thereby distorting individual behavior. Indirect taxes distort expenditures primarily by affecting the price of consumption goods. In India, the existing indirect tax system has become extremely distortionary with ...
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