The landscape of electricity regulation has undergone a sea-change in the last decade. The role of the private sector and regulation of generation, transmission and distribution has assumed prominence. The team at L&S has been regularly advising & representing Power generating companies & other Licensees on (i)Licensing, (ii)Tariff (iii) Regulatory issues before State & Ce...
29 September 2016
The High Court of Bombay in [Mahyco Monsanto Biotech (India) P Ltd v. UOI, 2016 (44) S.T.R 161 (Bom.)] examined whether the transaction undertaken by the petitioners would be exigible to service tax or to VAT where the petitioners were involved in different transactions though both urged that their transaction was a ser...
19 August 2016
Allahabad High Court has held that Section 4-BB of the Uttar Pradesh Trade Tax Act, 1948 (UPTT Act), which provides for set-off of tax, did not make any distinction between sales made to exempted units and taxable sales, i.e. set-off is not restricted to only those sales upon which tax was levied or collected.
The Court in this appea...
29 July 2016
In line with the spirit of upcoming GST law, Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has reiterated that Cenvat credit is not to be denied on technical ground. It has also been held that lack of vehicle number on the invoice is not relevant.
Cenvat credit on invoices issued by non-registered inpu...
14 January, 2015
Sale consideration received on resale of used motor vehicle to third parties by dealers of different commodities is not includible in the taxable turnover for attracting liability under Delhi VAT provisions if conditions of Section 6(3) of DVAT Act are satisfied. The Delhi High Court, in the case of Anand Decors v. Commissioner, while holding so looked into the definitions of...
23 December, 2014
India took its first major step on GST when the 122nd Constitutional Amendment Bill, 2014 was introduced in Lok Sabha (House of People) on 19-12-2014. The amendments proposed in the Indian Constitution relate to introduction of Goods and Services Tax across the country.
The Bill is likely to be taken up for detailed discussions in the Budget Session of the Indian Parliamen...
28 August, 2014
Certain changes in service tax provisions announced in this year’s Union Budget will come into effect from 1st October, 2014. As per Finance (No. 2) Act, 2014, changes relating to negative list will come into effect from a date to be notified and this date has now been notified as 1-10-2014. The Central Board of Excise & Customs (CBEC) has issued Notification No. 18/2014-S.T.,...
20 June, 2014
Even while being largely factual, transfer pricing cases make an interesting read and bring out new arguments. In Ness Innovative Business Services P. Ltd v. DCIT, decided on 18-6-2014, ITAT, Hyderabad examined a few such arguments in ruling out comparables included by the Transfer Pricing Officer (TPO). The assessee was engaged in business of software development services, did...
5th June, 2014
The High Court of Punjab & Haryana recently examined warp and weft to judge if HDPE woven fabric is artificial silk [A.R. Plastic P. Ltd. v. State of Haryana]. Disposing the batch of appeals by various dealers, it held that HDPE / PP woven fabric falls within entry 51 of Schedule B of Haryana VAT Act, 2003, (the Act) and is exempt from VAT.
Goods at issue
The appellant s...
26 February, 2014
In a spate of interesting judgements delivered recently, the Allahabad High Court provided refreshing insight into classification and taxability under VAT laws.
Oxygen - Curative effect when used as medicine for medical purposes
At issue was oxygen – Oxygen IP - prepared under license granted under Drugs and Cosmetics Rules, 1945. The revenue authorities sought to class...
16 January, 2014
The CESTAT in a recent case has held that service of gym instructor is essential for the physical fitness of employees and being necessary inputs, Cenvat credit of Service Tax would be admissible on such service.
Reasoning that the benefit of Cenvat credit is concomitant with liability to service tax the tribunal also held that registration is not essential to avail cred...
24th June, 2013
The High Court of Delhi has overruled the decision of the Company Law Board (CLB) wherein the CLB had held that since there was no bar on affirmative vote in the Articles of Association of the company, a provision in a Joint Venture Agreement providing for affirmative votes must be given effect to even if it is not incorporated in the Articles of Association of the company.
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