Taxation
Threshold for service tax, custom case appeals raised
In a move to reduce litigation from indirect tax administration, the government on Thursday raised the threshold limit for filing appeals before the Customs Excise and Service Tax Appellate Tribunal (CESTAT) and high courts to Rs.10 lakh and Rs.15 lakh respectively.
 
"A slew of measures were taken to enable effective and speedy dispute resolution and to facilitate the trade and industry. The threshold limit below which appeals are not to be filed by the department in CESTAT (tribunal) and high courts has been raised to Rs.10 lakh and Rs.15 lakh respectively," said a finance ministry statement.
 
It also said there will be withdrawal of all cases in high courts and CESTAT where there are precedent Supreme Court decisions against which no review is contemplated.
 
Besides, pre-show cause notice consultation at the level of principal commissioner and commissioner has been made mandatory in all cases where duty involved is above Rs.50 lakh.
 
The statement said zonal chief commissioners and principal commissioners have been directed to hold monthly, or bi-monthly, meetings with all adjudicating and appellate authorities in their respective zone and advise them on how to pass proper orders.
 
"Persistent ignoring of such advice would render the officer concerned liable to action," it said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Jet Airways chief executive resigns
Jet Airways on Thursday announced the resignation of its chief executive Cramer Ball, effective from February 29, 2016.
 
"Gaurang Shetty, whole-time director, will become the acting CEO of the company," the airline said in a statement. 
 
Shetty has over 35 years of industry experience and has been with the airline for more than 19 years.
 
"Shetty, will now lead the operating committee in managing the day-to-day operations of the company, under the supervision and control of the board of directors, chaired by Naresh Goyal," the statement added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Leaders asked not to come to Delhi on December 19: Congress
The Congress on Thursday said its leaders and supporters have been directed not to throng Delhi on December 19 when party president Sonia Gandhi and vice president Rahul Gandhi are scheduled to appear in a trial court here in the National Herald case.
 
"The Congress has made it clear to everybody that they should not come to Delhi on December 19 (Saturday)," Congress leader Ghulam Nabi Azad told reporters here.
 
Azad's remarks came amid speculation that the party may put up a show of strength on Saturday to express solidarity with its two top leaders.
 
Azad, leader of opposition in the Rajya Sabha, indicated that the party will avail of all legal options, including bail, in the National Herald case.
 
"The Congress president and vice president have full faith in the judiciary and full faith in the law of the land. Whatever we shall have to do as per the law, we will do," he said.
 
There were reports that the two Congress leaders may not seek bail, if asked by the court.
 
The party, however, asked its members of the Lok Sabha and Rajya Sabha to stay put in the national capital during the weekend.
 
Asked about the issue, Azad said such instructions were given as the party wanted its parliamentarians to be present in full strength during the last few days of the winter session that ends on December 23.
 
The Congress leader said as parliament did not function normally and as the session was slated to end next week, some MPs could possibly decide to stay in their respective constituencies.
 
Party sources said many leaders from various states were expected to arrive in Delhi on their own on Saturday and converge at the party's central office at 24, Akbar Road.
 
Sonia Gandhi and Rahul Gandhi will appear in the trial court here on December 19 in connection with BJP leader Subramanian Swamy's complaint in the National Herald case.
 
The Delhi High Court this month dismissed a plea of the Gandhis to quash the summons issued to them for personal appearance by a trial court in the case.
 
The trial court later asked them to appear before it on December 19.
 
On June 26 last year, the trial court issued summons to the Congress leaders on Swamy's complaint about "cheating" in the acquisition of Associated Journals Ltd., which published the National Herald newspaper, by Young India Ltd., "a firm in which Sonia and Rahul Gandhi each own a 38 percent stake".
 
The Congress said no illegality was committed by the party leaders in the case. The party alleged political vendetta on part of the Centre and claimed that Swamy had been given the specific task of targeting the Congress.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)