This issue of "Tax Amicus" carries article pointing to certain anomalies in MRP based valuation/assessment of cosmetics less than 10g or 10ml. "Ratio decidendi" covers CESTAT orders holding Special CVD refund as admissible on goods imported and transferred on right to use basis and that Cenvat credit as available based on provisionally assessed Bill of Entry and on the services used in wind mill located away from the factory. Bombay High Court has held that Section 10A of the Income tax Act has to be given effect to at the stage of computing profits and gains of business. Entry tax has been introduced in West Bengal and VAT rates have been increased in Odisha. Form ER-8 is required to be filed by manufacturers of articles of jewellery, fertilizer, coal, etc. enjoying 1% rate of duty, while various officers of Customs and Central Excise have been appointed as proper officers for the purpose of specified Customs provisions.
