Delhi High Court admits petition questioning Validity of provisions in Finance Act 2022 which overruled landmark Judgment of Supreme Court in Canon India case

- By : roccoligon

On 07.04.2022, the Delhi High Court admitted a petition challenging validity of provisions contained in the Finance Act 2022 to overrule the judgment of Supreme Court in Canon India case.  The Supreme Court of India held in Canon India case 

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Budget 2016 – Change in Excise Duty

- By : roccoligon

 Basic Excise Duty increased on pan masala [2106 90 20] from 16% to 19%.  Accordingly, the duty leviable under the compounded levy scheme has also been modified. Excise duty on “waters, including mineral waters and aerated waters, containing added sugar or other sweetening

SVBs Revampled

- By : roccoligon

CBEC, in much relief to trade ind Industry,  has overhauled the procedure with regard to functioning of SVBs.  The salient   features of new procedure are as under.   No Control of the DGOV: The  control of SVBS was entrusted to Director