Exporters allowed Refund of Service Tax on 3 more services

the Appellate Tribunal was right in holding that the second reassessment proceedings were not validly initiated and thereby quashing the reassessment proceedings-the proceedings initiated by the AO for the second time under Section 147 is barred by limitation-even the proviso to Section 147 does not come into play on the facts of the case-AIT-2010-373-HC Even if the goods belong to same entry, manufacture does take place if new identifiable/marketable goods known in market emerge due to operation conducted-the process of ironing applied to the stiched brassieres prior to their packing was a process incidental to the completion of the brassieres as a manufactured product-process of purification and filtration being incidental or ancillary to the manufacture of a marketable product, the Respondent was entitled to Modvat credit on the inputs involved-AIT-2010-370-HC Larger Bench of CESTAT rules the Tribunal has ample power to condone the delay in filing the appeal including the one filed under section 35 E (4)-AIT-2010-372-CESTAT Corruption in IRS takes its toll-Deputy Commissioner of Income Tax Dhananjay Kumar arrested by CBI in Mumbai-Joint Commissioner of Customs & Excise Hemant Kothikar also arrested by CBI FM directs expediting of Cadre Restructuring in CBDT & CBEC Tariff Value for import of Brass Scrap is 3924-Customs Non-Tariff Notification No. 78 Chief Justice of Gauhati High Court Justice Ranjan Gogoi to be Chief Justice of Punjab & Haryana High Court Anti-dumping duty on imports of Acrylic Fibre originating in, or exported from Japan and Belarus-Customs Tariff Notification No.85 Prescribing SION for new product “Propylene” under Chemical & Allied Products Group-DGFT PN 7 Inclusion of Finished Leather in the Focus Product Scheme of FTP-DGFT PN 6 Exchange Rate for imported goods is Rs 47.25 per US Dollar and Rs 60.35 per EURO-Exchange Rate for export goods is Rs 46.30 per US Dollar and Rs 58.70 per EURO-Customs Non-Tariff Notification No. 77-Click on Exchange Rate for details Anti Dumping Duty under the Notification No.15/2007 is not applicable to Spandex Yarn (Elastomeric yarn)-Customs Circular No.30 Import of goods under Notification No.13/2010 for Commonwealth Games, 2010-Customs Circular No.31 Larger Bench of CESTAT rules charges towards pre-delivery inspection and after-sale-service by dealers from buyers of the cars to be included in the assessable value of cars for payment of excise duty-AIT-2010-366-CESTAT merely because there was non accounting of goods, penalty was technical and inference of clandestine removal was not called for-AIT-2010-365-HC ITAT rules provision for doubtful debts and provision for standard debts are to be taken into consideration for computation of book profit u/s. 115JB of the IT Act-AIT-2010-361-ITAT HC rules slitting of aluminum foils into customized width, mounting the same on the printing machine and thereafter printing the necessary text thereon is covered for 80IB benefit as it falls within the ambit of the term “produce”-AIT-2010-363-HC Definitive Anti-dumping duty imposed on imports of Coumarin, originating in, or exported from China-Customs Tariff Notification No. 82 Special Bench of ITAT Ruling-where a forward contract is entered into by the assessee to sell the foreign currency at an agreed price at a future date falling beyond the last date of accounting period, the loss is incurred to the assessee on account of evaluation of the contract on the last date of the accounting period i.e. before the date of maturity of the forward contract-AIT-2010-355-ITAT-SB

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Exporters allowed Refund of Service Tax on 3 more services

AIT News Network

NEW DELHI. Government has extended vide Service Tax Notification No. 3/2008 dated 19.2.2008.the scheme to refund service tax paid by exporters on taxable services, which are not in the nature of “input services” but could be linked to export of goods, to following three more taxable services.

(i) Services provided by the Goods Transport Agency in relation to transportation of export goods from the place of removal to the actual place of export i.e. inland container depot / port / airport. (Section 65[105][zzp]),

(ii) Services provided in relation to transportation of export goods in containers by rail from the place of removal to the actual place of export i.e. inland container depot / port / airport. (Section 65[105][zzzp])

(iii) Courier Services provided to an exporter in relation to transportation of documents, goods or articles relating to export, to a destination outside India. (Section 65[105][f] of the Finance Act, 1994)

Refund of service tax paid on taxable services, which are not “input services” but could be attributable to export of goods is presently available to the following as per Service Tax Notification No. on the following ten taxable services:

(i) Port Services provided for export. (Section 65[105][zn])
(ii) Other port Services provide for export. (Section 65[105][zzl])
(iii) Services of transport of goods by road from ICD to port of export provided by Goods Transport Agency. (Section 65[105][zzp])
(iv) Services of transport of export goods in containers by rail from ICD to port of export. (Section 65[105][zzzp])
(v) General Insurance Services provided to an exporter in relation to insurance of export goods. (Section 65[105][d])
(vi) Technical testing and Analysis Agency Services in relation to technical testing and analysis of export goods. (Section 65[105][zzh])
(vii) Inspection and Certification Agency Services in relation to inspection and certification of export goods. (Section 65[105][zzi])
(viii) Storage and warehousing service [section 65(105)(zza)]
(ix) Cleaning activity service [section 65(105)(zzzd)]
(x) Business exhibition service [section 65(015)(zzo)].

Click here for Service Tax Notification No. 3/2008

· Exporters allowed refund of service tax on specified services

· No Rebate on export of goods manufactured in Excise Free Zones