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: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: due date for vat payment :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: empanelment :: Central Excise rule to resale the machines to a new company :: VAT Audit
 
 
« News Headlines »
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states
 Should you file revised Income Tax returns; find out here
 Tax Deducted at Source (TDS) in Goods & Services Tax (GST)
 10 companies that blamed GST for soft June quarter
 How will GST impact the Indian economy
 10 days left to file your first GST return. This is how you do it
 What is property tax and how is it calculated…
 File income tax returns in time to carry forward losses
 Missed the deadline to file income tax returns? Here is what you should do
 Who has to report foreign assets in Indian income tax return and how to do it

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