K.Ravichandren
08 August 2008 at 20:08
In an appeal the Central excise Tribunal dismissed the appeal on the basis of no compliance of its interim order(stay order and to deposit Rs.8,00,000) within the stipulated time. Now what is the next step i should adopt?
For your nutshell the case is:-
Being a job worker i undertake orders from a company. I undertake only a small works of the total finished product. I am clearing assemblies upon payment of excise duty including value of the inputs put by me and in my cost. The company concerned sends me some free inputs for the assembly and i am neither accounting nor taking credit on that and the value of such free inputs or not included on the service charges. The excise authorities sent show cause notice to me mentioning that during the past two years i havenot included the free inputs and demanded excise duty of Rs.15,00,000/- and the penalty of Rs.15,50,000/- under sec 11A(2)CEA, read with Rule 6 of Central Excise Valuation Rules 2000 and for penalties sec 11AB, Sec. 11AC ibid under rule 25 od CE rules 2002. Agreived against i preferred appeal to the Commissinerand they reduced the Penalty to 8,00,000/- and confirmed the rest of the order. Again I preferred appeal in the Tribunal and obtained stay for the operation of the lower order with a direction of depositing Rs.8,00,000/- with in a short period of time and since i could not mobilise i sought further time and even after that time i could not deposit the money and hence my appeal is dismissed. I am financially in a bad position and my other properties are in the bank for loans and the factory concerned also could not run for the past one year. I even though of filing insolvency petition.
This is my position now. Kindly advise me whether i can appeal to another forum - High Court?. Is it possible can i give insolvency for this Central Excise propblem while my properties are in the banks and case is pending in DRT and the bank has right for the first charge over the properties.? Your valuable advice sought
pawan balwani
07 August 2008 at 16:49
Hello Sir,
Can anybody tell me that as we are having specific fund created in a co-operative society and the income on account of that fund is to be considered for tax liability ,can we claim the expenses incurred on that specific fund should be deducted as expenses for computation of tax liability,
Dhrumil
06 August 2008 at 12:34
Can any one have idea of taxation aspect of setting up venture capital
yash doshi
05 August 2008 at 12:07
can anyone tell any case laws(preferrably supreme court) where it has been determined that if excise duty is paid on any product then the company is a manufacturing concern?
yash doshi
01 August 2008 at 13:39
we have been paying excise duty on the products we produce(through electrical stamping)
since we pay excise duty it is of common understanding that the process of electrical stamping is a manufacturing process because excise is only on manufacturing or production
now our ITO says that in income tax it will not be considered as manufacture and excise act has nothing to do with income tax act
Can such contradictory views be allowed?
in case of dispute should electrical stamping be considered as manufacture?
in case of such contradiction which law should be upheld?
if any of you have any case laws(preferrably of supreme court) relating to such contradictory views of income tax and excise please forward it to me on my e mail id at yash_2687@yahoo.co.in.
thank you
regards
yash doshi
ashish
30 July 2008 at 21:07
R/SIR
MY CLIENT IS DEALING IN SNACKS,WHOSE BUSINESS IS A WHOLESALE BUSINESS,PURCHASING GOODS INTRA-STATE AND SELLING IN THE STATE ONLY.
THE FIRM 4M WHOM MY CLIENT PURCHASE INPUTS IS IN RANCHI,JHARKHAND.IT USED TO PROVIDE FOR CREDIT NOTES FOR ALMOST EVERY MONTHS.
CREDIT NOTES R PROVIDED 4 DAMAGES AND DISCOUNTS(AS PROVIDED 4 REGULAR SCHEMES ALLOWED),BUT NO INPUT WERE NOT ADJUSTED IN CREDIT NOTE,TILL MY CLIENT ASKED 4 JVAT404.
WHEN MY CLINT ASKED 4 JVAT404(9C EARLIER SAID SO),THEY R PROVIDING CREDIT NOTES
WITH DAMAGES AND DISCOUNT WITH ADJUSTMENT IN INPUT RESPECTIVELY.
MY QUESTION IS HOW CAN MY CLIENT CHANGE THE RETURNS?
IS ADJUSTING INPUTS 4M DISCOUNT(ITEM OF P/L)IS ALLOWABLE?
I ALSO WANT TO UNDERSTAND RULE 35 OF JHARKHAND VAT RULES,2005.
MY CLIENT HAS FILED THE RETURNS TILL MARCH2007,AND ONLY ANNUAL RATURN IS PENDING.
USUAL PRACTISE FOLLOWED MY CLIENT IS TO ALLOW DISCOUNT TO HIS CUSTOMERS ALSO.
SIR,PLZ HELP.
REPLY SOON PLZ.
WITH WARM REGARDS 2 ALL
ASHISH
R.Rajendran
30 July 2008 at 10:18
We,4 brothers, are going to sell a house
property for Rs.15.16 lakhs and my share of this gain will be Rs.3.79 lakhs.
Please clarify the following queries:
1)I am a salaried employee and I have PAN.
Any tax is applicable to me or not?
2)If any tax is applicable, what is the rate of tax?
3)How to avoid payment of tax if it is applicable?
R.Rajendran
R.Rajendran
30 July 2008 at 09:44
I am a salaried employee and I pay tax every year after availing all the tax benefits. I want to invest in my wife's name Rs.One lakh in FD Scheme of a private Bank for 1 year.If the interest at the time of maturity is Rs 10500, will any tax be applicable as per Income Tax laws?. I feel that tax should not be applicabe since my wife is not working(She is house-wife).
Request for reply from Tax experts.
R.Rajendran
kruthika
28 July 2008 at 22:44
dear sir,
i would like to know, if it is true that a pensioner can file his returns anytime of the year....
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Posting it again for your suggestions. what is the next step after the appeal dismissed by the Central excise Tribunal?
In an appeal the Central excise Tribunal dismissed the appeal on the basis of no compliance of its interim order(stay order and to deposit Rs.8,00,000) within the stipulated time. Now what is the next step i should adopt?
For your nutshell the case is:-
Being a job worker i undertake orders from a company. I undertake only a small works of the total finished product. I am clearing assemblies upon payment of excise duty including value of the inputs put by me and in my cost. The company concerned sends me some free inputs for the assembly and i am neither accounting nor taking credit on that and the value of such free inputs or not included on the service charges. The excise authorities sent show cause notice to me mentioning that during the past two years i havenot included the free inputs and demanded excise duty of Rs.15,00,000/- and the penalty of Rs.15,50,000/- under sec 11A(2)CEA, read with Rule 6 of Central Excise Valuation Rules 2000 and for penalties sec 11AB, Sec. 11AC ibid under rule 25 od CE rules 2002. Agreived against i preferred appeal to the Commissinerand they reduced the Penalty to 8,00,000/- and confirmed the rest of the order. Again I preferred appeal in the Tribunal and obtained stay for the operation of the lower order with a direction of depositing Rs.8,00,000/- with in a short period of time and since i could not mobilise i sought further time and even after that time i could not deposit the money and hence my appeal is dismissed. I am financially in a bad position and my other properties are in the bank for loans and the factory concerned also could not run for the past one year. I even though of filing insolvency petition.
This is my position now. Kindly advise me whether i can appeal to another forum - High Court?. Is it possible can i give insolvency for this Central Excise propblem while my properties are in the banks and case is pending in DRT and the bank has right for the first charge over the properties.? Your valuable advice sought