PART-III GOVERNMENT OF PUNJAB DEPARTMENT OF EXCISE AND TAXATION (EXCISE AND TAXATION-II BRANCH) NOTIFICATION The 3rd September, 2024 No. S.O.43/P.A.5/2017/S.148/2024.- In exercise of the powers conferred by section 148 of the Punjab Goods and Services Tax Act, 2017 (Punjab Act 5 of 2017), and all other powers enabling him in this behalf, the Governor of Punjab, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, is ple... ... ...

BOSE AND PURANIK, JJ. ORDER 1. This memo of first appeal was presented on July 2, 1935, on a court-fees of Rs. 15 on which the office put up a note that the memo, was time-barred by 17 days and that the same was not duly stamped. The question of court-fee was argued before the Hon'ble Mr. Justice Niyogi and he held by his finding dated July 9, 1936, that ad valorem court-fee was payable and granted the appellant time to make up the deficiency. The court-fee was accordingly paid an... ... ...

Specified actionable claims are inserted in Schedule IV, covering actionable claims involving betting, casinos, gambling, horse racing, lottery, and online money gaming. Entries relating to serial numbers 228 and 229 are omitted. Undefined words and expressions carry the meanings assigned under the Punjab Goods and Services Tax Act, 2017. The amendments take effect from 1 October 2023.

Tax-deduction-at-source procedures under section 393 are extended to consideration for transfer of immovable property where a resident individual or Hindu undivided family is required to deduct tax under section 393(2). The prescribed entries in rule 215(1), the particulars covered by rule 218(3), and the relevant clauses in rule 219 are aligned to include this category of deduction. Rule 219(8) is also corrected by replacing the reference to sub-section (1) with sub-section (7).

India's FY 2026-27 GDP growth forecast is raised to 6.9 per cent from 6.4 per cent, reflecting strong June-quarter growth and economic resilience. Economic momentum is projected to moderate as slower manufacturing and services expansion, below-normal monsoon rains, and rising inflation constrain demand. Strong demand, price increases and adverse supply conditions are expected to lead to monetary tightening.

Input tax credit for specified 2.5 per cent state-tax service entries is limited where same-line input services bear higher tax. A supplier may claim credit only up to 2.5 per cent of the value of the input service, and excess credit is unavailable. For motor-cab transport, this cap applies where a cab with operator is hired for providing the outward service at that rate.

SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER For the Assessee : Shri M.K. Patel with Shri M.J Shah, A.Rs For the Revenue : Shri Darsi Suman Ratnam, CIT.D.R With Shri Ashok Kumar Suthar, Sr.D.Re : ORDER PER BENCH: The captioned appeals have been filed at the instance of the Assessee and the Revenue against the separate orders of the Learned CIT(Appeals), Vadodara, arising in the matter of assessment order passed under s. 143(3) of the Income Ta... ... ...

Punjab SGST rate schedules add molasses under heading 1703 and powdered food preparations of millet flour containing at least 70% millets by weight, pre-packaged and labelled, under heading 1901 to Schedule I at 2.5%. Schedule III at 9% includes these millet-flour food preparations and spirits for industrial use under tariff item 2207 10 12.

FEMA investigation concerns suspected foreign-exchange contraventions and the source and movement of funds used to acquire control of McNally Bharat Engineering Company Limited following its corporate insolvency resolution process. The inquiry also examines whether the process may have enabled persons potentially ineligible under Section 29A of the Insolvency and Bankruptcy Code, 2016, to regain indirect control of the company.

Export facilitation reforms contemplate integrated Commerce and Industry offices and trained local personnel to provide exporters with common access points and district-level handholding support. The Trade Connect platform is envisaged to provide product-wise and HSN-code-wise tariff, Free Trade Agreement and procedural information, supported by digital and AI-enabled tools. Reforms also address electronic verification of Certificates of Origin, integration across the export cycle, digitalisation, simplified trade documentation, reduced compliance burden, and adherence to international quality standards.

India's FY27 growth outlook is revised upward to 7 per cent from 6.6 per cent, supported by industrial activity, consumption, goods exports and government investment. Consumer inflation is projected to average 5.1 per cent. Persistent inflationary pressures, solid growth, conflict in West Asia and weather-related risks are expected to support higher interest rates, while below-normal monsoon rainfall may affect agricultural output and food inflation.

Trade and market-access cooperation is to be advanced through a proposed Comprehensive Economic Partnership Agreement with Chile, a proposed Free Trade Agreement with Peru, and expansion of the Preferential Trade Agreement with MERCOSUR. The frameworks seek mutually beneficial outcomes while respecting respective sensitivities and priorities. Diversified trade, investment and business partnerships are envisaged through stronger business-to-business linkages, improved connectivity and more predictable market access.

Rectification of mistakes apparent from the record permits income-tax authorities to amend their own orders and specified intimations, but matters considered and decided in appeal or revision are excluded. Suo motu rectification is discretionary. On an application by the assessee, deductor, collector, or, in relevant first-appeal matters, the Assessing Officer, the authority must issue a written order making the amendment or refusing the claim within six months. Adverse amendments require prior notice and a reasonable opportunity of hearing; consequential refunds must be made and demand notices served where liability increases.

Marginal relief is proposed for resident individuals under the new tax regime whose total income exceeds Rs. 7 lakh. Tax payable must not exceed the income exceeding that threshold. Tax is computed before rebate, and the excess income over Rs. 7 lakh is determined. Where pre-rebate tax exceeds the excess income, the Section 87A rebate equals the difference; where the difference is negative, no rebate is allowed.

Section 157 of the CGST Act limits suits, prosecutions and other legal proceedings against designated Tribunal personnel and tax officers to acts done or intended in good faith under the Act or rules. Good faith is not automatic immunity where adjudication departs from procedural safeguards, including personal hearings, the confines of show cause notices, correct demand provisions, proportionate penalties, statutory payment opportunities and consideration of taxpayer replies. Appellate scrutiny may test whether such orders comply with statutory requirements and procedural fairness.

Digital compliance integrates technology into corporate and board functions to support observance of applicable laws, internal policies, and governance standards. It includes electronic records, digital board meetings, automated monitoring, electronic filings, digital signatures, secure document management, and data protection. Board oversight covers cybersecurity, personal data protection, digital risk, artificial intelligence governance, fraud prevention, business continuity, and digitally supported ESG disclosures. Company secretaries support digital governance through regulatory advice, timely compliance, electronic records, digital due diligence, and ethical governance.

GST adjudication must result in a reasoned or speaking order demonstrating genuine consideration of the taxpayer's reply, submissions, and supporting material. An order that merely records receipt of a reply but rejects it without addressing the contentions or documents relied upon lacks the reasons necessary to disclose application of mind. Availability of an alternative statutory appeal does not preclude writ jurisdiction where principles of natural justice are breached by a non-speaking order.

Employment-related claims for salary, increments, remuneration, commission and other dues arising from an employment agreement do not constitute commercial disputes under the Commercial Courts Act, 2015. A contract of personal service retains its employment character even where the claim concerns payment obligations or sales-linked remuneration. Where a plaint is filed before a forum lacking commercial jurisdiction, it should be returned for presentation before the competent non-commercial court rather than dismissed, allowing the claimant to pursue the existing plaint in the proper forum.

Order VII Rule 11(d) permits rejection of a recovery plaint on limitation only when the bar is apparent from a meaningful reading of the plaint and relied-upon documents. Sections 18 and 19 of the Limitation Act require consideration of acknowledgments and payments affecting limitation. Signed balance confirmations, together with tax deducted at source and deposited to the creditor's account in relation to a loan, may raise a triable issue on acknowledgment and payment. The evidentiary and legal effect of those materials requires determination on evidence and cannot be conclusively resolved at the threshold.

Valuation of excisable goods stock-transferred to sister units for further manufacture falls under the captive-consumption regime. Cost of production must be determined on the CAS-4 basis, and the prescribed valuation guidance binds Revenue authorities. The general valuation method applicable to transfers not involving captive consumption does not govern such transfers. Duty liability is therefore determined using the CAS-4 cost basis, with no differential duty arising from application of the alternative transfer-valuation principle.