3 July, 2015
Three Judges Bench of the Supreme Court has, on 1-7-2015, held that Rules of Interpretation of the Central Excise Tariff may not be applicable if the notification (exemption notification) commands and require a different understanding. Holding that rules or principles of interpretation are always subject to context and are not binding commands, the Court rejected the...
19th August, 2013
A product used mainly to cure or treat diseases, containing curative ingredients even in small quantities, is to be considered as a medicament. Supreme Court of India has, on 14-8-2013, relying on earlier cases, has classified the product (Moisturex in this case) as medicament.
The Court in this regard observed that ‘care or cure’, is the clue for resolution of the iss...
By Shashwat & G. Gokul Kishore
Budget 2016 is just around the corner and despite the fact that the ‘seamless’ tax regime of GST passes through political rough weather, the government is intent on implementing it from next fiscal. But the age old excise concepts like those on taxable event of manufacture continue to evolve even at this hou...
7th December, 2011
The Indian Central Excise and Customs Tariffs are set to undergo some major changes. Changes are being made to align Indian Customs and Central Excise Tariff Schedules with HSN amendments as approved by the World Customs Organization.
The amendments are being made as per Sections 60(a)(ii) and 73(a)(ii) of Finance Act, 2011. These provisions come into effect from 1st of ...
Punitive charges like damages, interest and penalty whether are allowed as deductions under the Income Tax Act if the same are compensatory in nature? Article in this January 2012 issue of "Tax Amicus" while discussing the same, concludes that Maxwell’s faith in the judiciary stands vindicated. Amendments in the Central Excise and Customs Tariff, as made by the Finance Act 2011, have come into ...
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