Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: cpt :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TDS :: list of goods taxed at 4% :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: empanelment
 
 
News Headlines »
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know
 Filing of GST return
 Why cement companies are going in for M&As
 Govt moves to rework direct tax law after PM’s nudge
 New offer available for filing tax returns online, how to avail

SC defers hearing in Vicco Labs' matter
April, 24th 2007

The Supreme Court deferred hearing on a petition filed by the central excise department, seeking recovery of Rs 9.09 crore as excise duty from Vicco Laboratories' as it believes that the company's products are cosmetic and not ayurvedic.

A bench headed by Justice Arijit Pasayat deferred the hearing by eight weeks on an appeal filed by the department, challenging the Bombay High Court order that restrained it from recovering dues.

Last month, the bench had asked the department, represented by Additional Solicitor-General P P Malhotra, to file additional material in support of its argument that Vicco's products were cosmetic and not ayurvedic.

The department had issued notices to Vicco demanding that it pay Rs 9.09 crore as excise duty for the period between April 2004 to December 2005 on the products Vajradanti (toothpaste) and Vicco Turmeric (skin cream).

It had contended that these products were being marketed as cosmetics in trade parlance and thus cannot avail benefit of Modvat Credit.

Also, the products were not manufactured exclusively in accordance with the formulae described in authoritative books specified in the First Schedule to the Drugs and Cosmetics Act, 1940, or Homoeopathic Pharmacopoeia of India or the US, the UK or Germany, it argued.

The excise department had moved the High Court in April 1988, challenging the order of the civil court, Thane, that said Vicco products were ayurvedic medical preparations.

The High Court while declaring the department's notices as illegal and void had left the issue of classification of these products to be decided in the context of new Tariff Act, 1985 that came into effect in February 1996.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions