Uniform allowance paid to employees wouldn't be deemed as perquisite; not liable to TDS under sec. 1

IT : Uniform allowance paid by assessee to its employees could not be regarded as additional salary in form of allowance within meaning of section 17(1)(iv) attracting provisions of section 192

Commission for sales promotion isn’t analogous to selling commission; former is eligible for credit

Cenvat Credit : Commission paid to foreign agents for 'sales promotion' is different from 'selling commission'; sales promotion commission is eligible for input service credit, while 'selling commission' is not so eligible

[Indian Customs SG Notification] : Seeks to levy definitive safeguard duty on import of saturated fatty alcohol, for a period of two years and six months from the date of levy of provisional safeguard duty i.e. 28th August, 2014

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Notification

No. 1/2015-Customs (SG)

New Delhi, the 13th March, 2015

G.S.R. (E). - Whereas, in the matter of import of “Saturated Fatty Alcohols with carbon

chain length of C8,C10,C12,C14,C16 and C18 including single, blends and unblended (not

including branched isomers) which includes blends of a combination of carbon chain lengths,

C12-C14, C12-C16, C12-C18, C16-18 and C14-C16 (commonly categorized as C12-C14)”

(hereinafter referred to as the subject goods), falling under tariff item 2905 17 00 or sub-heading

3823 70 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred

to as the Customs Tariff Act), the Director General (Safeguard), in his preliminary findings,

published vide number G.S.R. 357 (E), dated the 26th May, 2014, in the Gazette of India,

Extraordinary, Part II, Section 3, Sub-section (i), dated the 26th May, 2014, had come to the

conclusion that increased imports of subject goods into India has caused and threatened to cause

further serious injury to the domestic producers of subject goods, thereby necessitating the

imposition of provisional safeguard duty on imports of the subject goods into India;

And, whereas, on the basis of the aforesaid findings of the Director General (Safeguard),

the Central Government had imposed provisional safeguard duty on import of the subject goods

into India for a period of two hundred days from 28th August, 2014 vide notification of the

Government of India in the Ministry of Finance (Department of Revenue), No. 03/2014-Customs

(SG), dated the 28th August, 2014, published in the Gazette of India, Extraordinary, Part II,

Section 3, Sub-section (i), vide number G.S.R. 623(E), dated the 28th August, 2014;

And, whereas, the Director General (Safeguard) in its final findings vide number G.S.R.

712(E), dated the 9th October, 2014, published in the Gazette of India, Extraordinary, Part II,

Section 3, Sub-section (i), has recommended imposition of safeguard duty on subject goods

excluding Saturated Fatty Alcohols with carbon chain length of pure C8, falling under tariff item

2905 17 00 or sub-heading 3823 70 of the First Schedule of the Customs Tariff Act, for a period

of two years and six months from the date of levy of provisional safeguard duty;

Now, therefore, in exercise of the powers conferred by sub-section (1) of section 8B of

the Customs Tariff Act, read with rules 12, 14 and 17 of the Customs Tariff (Identification and

Assessment of Safeguard Duty) Rules, 1997, the Central Government after considering the said

final findings of the Director General (Safeguard), hereby imposes on subject goods excluding

Saturated Fatty Alcohols with carbon chain length of pure C8, falling under tariff item 2905 17

00 or sub-heading 3823 70 of the First Schedule to the Customs Tariff Act, when imported into

India, a safeguard duty at the following rate, namely:-

(a) twenty per cent. ad valorem when imported during the period from 28th August,

2014 to 27th August, 2015 (both days inclusive);

(b) eighteen per cent. ad valorem , when imported during the period from 28th August,

2015 to 27th August, 2016 (both days inclusive); and

(c) twelve per cent. ad valorem , when imported during the period from 28th August,

2016 to 27th February, 2017 (both days inclusive).

2. Nothing contained in this notification shall apply to imports of subject goods excluding

Saturated Fatty Alcohols with carbon chain length of pure C8, from countries notified as

developing countries under clause (a) of sub-section (6) of section 8B of the Customs Tariff Act,

other than Malaysia, Thailand and Indonesia.

3. The safeguard duty imposed under this notification shall be levied with the effect from the

date of the imposition of provisional safeguard duty, that is, the 28th August, 2014, and shall be

payable in Indian currency.

[F No. 354/108/2014-TRU]

(Akshay Joshi)

Under Secretary to the Government of India

Income of slot charterer is includible in tonnage income even if its operations carried out in non-q

IT : Income from slot charter operations of a tonnage tax company is liable to be included while determining tonnage income under tonnage tax scheme even if such operations are carried on in ships which are not qualifying ships in terms of provisions of Chapter XIIG of Act

[DGFT Notification] : Addition of two new ports for import of new vehicles.

To be Published in the Gazette of India Extraordinary

Part-II, Section-3, Sub-Section (ii)

Government of India

Ministry of Commerce & Industry

Department of Commerce

Udyog Bhawan

Notification No.117 (RE-2013)/2009-2014

New Delhi, Dated the 13th March, 2015

Subject: Addition of two new ports for import of new vehicles.

S.O.(E) In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.3 and 2.1 of the Foreign Trade Policy, 2009-2014, as amended from time to time, the Central Government hereby amends the Import Policy Condition 2 to Chapter 87 of ITC(HS) 2012, Schedule 1 (Import Policy) as under:

2. Kattupalli Port and APM Terminals, Pipavav Port are added to the existing list of 12 ports / ICDs through which import of new vehicles is permitted under Policy Condition 2(II) (d) of Chapter 87 of ITC(HS) 2012, Schedule 1 (Import Policy). Accordingly, Policy Condition 2(II) (d) of Chapter 87 is revised to read as under:

"The import of new vehicles shall be permitted only through the following Customs Ports:

Seaports - (i) Nhava Sheva, (ii) Mumbai, (iii) Kolkata, (iv) Chennai, (v) Ennore, (vi) Cochin, (vii) Kattupalli, (viii) APM Terminals Pipavav;

Airports - (ix) Mumbai Air Cargo Complex, (x) Delhi Air Cargo, (xi) Chennai Airport; and

ICDs - (xii) Telegaon Pune, (xiii) Tughlakabad & (xiv) Faridabad."

3. Effect of this notification:

Two new Customs Ports, Kattupalli Port and APM Terminals, Pipavav Port are being added to the list of 12 existing ports/ICDs, thereby taking the total number of ports/ICDs to 14, for importing new vehicles.

(Pravir Kumar)

Director General of Foreign Trade

E-mail: dgft[at]nic[dot]in

[Issued from 01/89/180/29/AM-09/PC-2(A)]

[DGFT Notification] : Specifying documents required for Export and Import.

To be published in the Gazette of India Extraordinary Part II

Section 3, Sub Section (II)

Government of India

Ministry of Commerce and Industry

Directorate General of Foreign Trade

Udyog Bhavan

Notification No. 114 (RE-2013)/2009-2014

New Delhi, the 12th March, 2015

Subject: Specifying documents required for Export and Import

S.O.(E) In exercise of the power conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby inserts a new Para 2.53 of Foreign Trade Policy, 2009-14:

2. Para2.53: The following mandatory documents are prescribed for exports and imports of goods from/into India:

(a) Mandatory documents required for export of goods from India:

1. Bill of Lading/Airway Bill

2. Commercial Invoice cum Packing List*

3. Shipping Bill/Bill of Export

(b) Mandatory documents required for import of goods into India

1. Bill of Lading/Airway Bill

2. Commercial Invoice cum Packing List*

3. Bill of Entry

[Note: *(i) As per CBEC Circular No. 01/15-Customs dated 12/01/2015.

(ii) Separate Commercial Invoice and Packing List would also be accepted.]

(c) For export or import of specific goods or category of goods, which are subject to any restrictions/policy conditions or require NOC or product specific compliances under any statute, the regulatory authority concerned may notify additional documents for purposes of export or import.

(d) In specific cases of export or import, the regulatory authority concerned may electronically or in writing seek additional documents or information, as deemed necessary to ensure legal compliance.

(e). This Notification shall come into effect from 1 st April, 2015.

3. Effect of this Notification: Only three documents each {as in para 2.(a) & (b above} would be mandatory for exports and imports.

(Pravir Kumar)

Director General of Foreign Trade

E-mail: dgft@nic.in

[Issued from (01/93/180/23/AM-15/PC-2(B)]

CESTAT waived of penalty as taxability of services was prone to different interpretations

Service Tax : Where taxability of service was disputed and prone to different interpretations, no motive can be assigned to assessee to evade any service tax and same constitutes a reasonable cause for waiver of penalties under section 80

Waiver of loan wasn't taxable as business income when such loan wasn't treated as business transacti

IT : Where in earlier years revenue did not accept loan transaction as business transaction, waiver of said loan could not be considered as business income under section 28(iv)

PWD of Haryana, being a Govt. body, couldn't be considered as an enterprise under Competition Act

Competition Act: PWD of Haryana is not an 'enterprise' under section 2(h) of Competition Act, 2002