Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
This case pertains to the utilization of ineligible CENVAT credit by a company. The key points are: The company availed ineligible CENVAT credit amounting to Rs. 1,30,84,835/- which was not permissible under the CENVAT Credit Rules, 2004. As per Section 73 of the Finance Act, 1994, a show-cause notice for non-payment of service tax must be issued within 18 months, extendable to 5 years in case of fraud, misstatement or suppression of facts. The company had disclosed all relevant information regarding CENVAT credit availed in its ST-3 returns. The Commissioner alleged misstatement and contravention with intent to evade tax, which the High Court found perverse as the show-cause notice did not mention willful misstatement or suppression. The Supreme Court has held that for invoking extended limitation, the show-cause notice must specifically mention willful misstatement or suppression. As the company disclosed facts and there was no allegation of willful suppression, the CESTAT order was upheld, and the appeal dismissed.
This case pertains to the utilization of ineligible CENVAT credit by a company. The key points are: The company availed ineligible CENVAT credit amounting to Rs. 1,30,84,835/- which was not permissible under the CENVAT Credit Rules, 2004. As per Section 73 of the Finance Act, 1994, a show-cause notice for non-payment of service tax must be issued within 18 months, extendable to 5 years in case of fraud, misstatement or suppression of facts. The company had disclosed all relevant information regarding CENVAT credit availed in its ST-3 returns. The Commissioner alleged misstatement and contravention with intent to evade tax, which the High Court found perverse as the show-cause notice did not mention willful misstatement or suppression. The Supreme Court has held that for invoking extended limitation, the show-cause notice must specifically mention willful misstatement or suppression. As the company disclosed facts and there was no allegation of willful suppression, the CESTAT order was upheld, and the appeal dismissed.
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