Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
The HC allowed the appeal, holding that the insertion of Section 5A(1A) in the Central Excise Act, 1944 is prospective, not clarificatory. Prior to the amendment, the appellant had the option to forego the exemption on final products and pay duty to claim CENVAT credit on inputs. However, post-amendment, manufacturers of exempted excisable goods are prohibited from paying duty, precluding them from claiming CENVAT credit. The Tribunal erred in upholding the demand of CENVAT credit where the appellant had paid duty on final products and utilized input credits.
The HC allowed the appeal, holding that the insertion of Section 5A(1A) in the Central Excise Act, 1944 is prospective, not clarificatory. Prior to the amendment, the appellant had the option to forego the exemption on final products and pay duty to claim CENVAT credit on inputs. However, post-amendment, manufacturers of exempted excisable goods are prohibited from paying duty, precluding them from claiming CENVAT credit. The Tribunal erred in upholding the demand of CENVAT credit where the appellant had paid duty on final products and utilized input credits.
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