Latest Tax News & Updates

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Director of a company arrested for evasion of Service Tax

Service Tax - 03-Apr-2019

Officers of CGST Delhi North Commissionerate have arrested one Director of a Company for evasion of Service Tax. The Company had collected more than Rs. 3 Crores as Service Tax from its clients but had not deposited the same with the Government Exchequer. The power to arrest is provided under Section 91 of the Finance Act 1994 for violating the provisions of Section 89 of the Finance Act 1994 read with Section 174 of CGST Act, 2017. He was produced in the Court of Hon’ble...

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CBIC Postpones increase in customs duty on specified imports from USA

Custom Duty - 03-Apr-2019

Seeks to further amend notification No. 50/2017-customs dated 30th June 2017 to postpone the implementation of increased customs duty on specified imports originating in USA from 2nd March, 2019 to 1st April, 2019 vide Notification No. 06/2019-Customs Dated 26th February, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 06/2019-Customs New Delhi, the 26th February, 2019 G.S.R. (E).– In exercise of the powers conferred...

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India Imposes 200% on Import From Pakistan

Custom Duty - 03-Apr-2019

Govt. imposes 200 % Custom Duty on All goods originating in or exported from the Islamic Republic of Pakistan or Imported from Pakistan vide Notification No. 05/2019-Customs Dated: 16th February, 2019. MINISTRY OF FINANCE (Department of Revenue) Notification No. 05/2019-Customs New Delhi, the 16th February, 2019 G.S.R. 124(E).—WHEREAS, the Central Government is satisfied that the import duty leviable on all goods originating in or exported from the Islamic Republic of...

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High technical equipment cannot be defferentiated into smaller parts

Custom Duty - 03-Apr-2019

highly technical equipment cannot be differentiated into smaller parts and cannot be classified as per the make of a smaller part in it. Moreover, we find that supplying country has classified the same under Chapter 88. We also find that irrespective of the classification, the impugned goods are eligible for exemption under Notification No.39/1996-Cus. dated 31.7.1996. When the Tribunal (supra) has held ground power unit to be part of the helicopters, there should be no doubt in classifying the...

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Imposition of High Custom Duty on Steel and Aluminium Products

Custom Duty - 03-Apr-2019

The United States has imposed global tariff of 25% and 10% in March, 2018 on certain steel and aluminium products, respectively, under Section 232 of US Trade Expansion Act of 1962.  India took up this issue at World Trade Organisation (WTO) as it considers these additional duties to be non-compliant with WTO provisions. India has retaliated against the US by imposing additional customs duties on 29 items originating from the US under the provisions of WTO Safeguard Agreement. India has...

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