Clear all

Refine your search

54 results found

Commentary
Ask Lexy

Economic Laws Practice | India | 17 Jul 2015

Royalty not included in assessable value of CDs duplicated by workers

The Supreme Court recently held that, for the purpose of central excise duty, royalty charges payable by distributors and copyright owners to artists and production houses should not be included in the assessable value of compact discs (CDs) which had been duplicated by workers using master CDs supplied to them.
Commentary
Ask Lexy

Economic Laws Practice | India | 14 Jul 2015

Royalty not included in assessable value of CDs duplicated by workers

The Supreme Court recently held that, for the purpose of central excise duty, royalty charges payable by distributors and copyright owners to artists and production houses should not be included in the assessable value of compact discs (CDs) which had been duplicated by workers using master CDs supplied to them.
Commentary
Ask Lexy

Economic Laws Practice | India | 30 Jun 2015

Supreme Court rules on customs valuation

The Supreme Court recently ruled that fees for technical services in relation to projects involving imported goods are not includable in the assessable value of the imported goods under Rule 9(1)(e) of the Customs Valuation Rules 1988. As such, they are not liable to customs duty in India. In this context, the court held that the charges in question related to post-import activities and were......
Commentary
Ask Lexy

Economic Laws Practice | India | 23 Jun 2015

Fixing handling charges when actual cost is ascertainable

The Supreme Court recently declared that Rule 9(2)(ii) of the Customs Valuation (Determination of Price of Imported Goods) Rules 1988 is arbitrary to the extent it seeks to introduce a fiction for arriving at the purported cost of loading, unloading and handling charges, even where the actual charges paid are available and ascertainable. The rule is applicable only where the actual cost of......
Commentary
Ask Lexy

Economic Laws Practice | India | 6 Mar 2015

Cross-border transitions

The 122nd Constitution Bill 2014 seeks to levy goods and services tax (GST) on all supplies of goods and services made during interstate trade and commerce. The bill further proposes to treat supplies of goods and services imported into India as supplies of goods and services occurring in the course of interstate trade. Importers will likely encounter cash-flow constraints, owing to the......
Commentary
Ask Lexy

Economic Laws Practice | India | 13 Feb 2015

Excise tax update

The high court recently considered whether excise tax can be imposed on unmarketable products, holding that products which are manufactured but ultimately unmarketable do not incur excise duty. Meanwhile, the Tax Tribunal recently considered whether the sale of goods to builders/developers qualifies as an institutional sale, answering this question in the affirmative.
Commentary
Ask Lexy

Economic Laws Practice | India | 19 Dec 2014

Royalty added to value of imported capital goods only if condition of sale

In a recent Customs, Excise and Service Tax Appellate Tribunal case, the assessee had entered into a licence and technology agreement with a holding company for the transfer of technical know-how with regard to the manufacture of float glass.The issue was whether the royalty paid to the holding company should be included in the value of the imported capital goods.
Commentary
Ask Lexy

Economic Laws Practice | India | 12 Dec 2014

No service tax on temporary floating offshore supply vehicles

In a recent tribunal case, the Indian Revenue Service demanded service tax from an assessee under the reverse charge mechanism, as it considered the arrangement between the assessee and owners of offshore supply vessels to be a tangible goods service. The tribunal had to determine, among other things, whether the arrangement fell under a proviso to Rule 3(iii) of the Import Rules.
Commentary
Ask Lexy

Economic Laws Practice | India | 31 Oct 2014

Foreign trade update

Recent trade developments include the introduction of an online complaint resolution system for electronic data interface issues and a new procedure for tracking and tracing export consignments of drugs and pharmaceuticals. Every exporter of drugs and pharmaceuticals must now submit a certificate of analysis issued by the specified entities when goods are shipped and incorporate barcodes on......
Commentary
Ask Lexy

Economic Laws Practice | India | 31 Oct 2014

Trading margin not liable to service tax

In a recent case, an assessee purchased compressed natural gas from Mahanagar Gas Limited (MGL) for further sale to its dealers, providing space for MGL to install machinery and equipment. Revenue alleged that the assessee had provided marketing services to MGL; hence the commission earned by the assessee was taxable as a business auxiliary service. However, the tribunal ruled out the......
Previous page 1 2 3 4 5 6