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Dinesh Kumar Agrawal, IRS - ArticlesThe author is a member of the Institute of Chartered Accountants of India and also a member of Institute of Cost & Works Accountants of India. He has gained vast experience in the Customs, Central Excise and Service Tax while working in the Indian Customs and central Excise Department under the Ministry of Finance, Government of India. For more information, please visit http://dineshagrawal.info
PROPOSED GST IN INDIA - MISSED OPPORTUNITIESRecently, the Empowered Committee of State Finance Ministers released the First Discussion Paper on Goods and Services Tax in India outlining the contours of the proposed GST regime expected to be implemented in 2010.
This paper critically examines some aspects of the proposed GST regime. COMPULSORY BAIL - BAILABLE OFFENCE UNDER THE CUSTOMS ACTRights and duties of the department and the accused in the case of arrest on an alleged BAILABLE OFFENCE Under the CUSTOMS ACT. Under the law, the customs officer is duty bound to release the person on bail. Bail is the rule. Bail has to be unconditional except for execution of personal bond and demanding of security with sureties. This paper examines the finer aspects. Officers denying the bail to eligible persons may be prosecuted in a court of law. DOING BUSINESS IN INDIA – BENEFITS UNDER SEZthe Government of india has framed Special Economic Zone (“SEZ”) Policy to remove shortcomings of EPZ, create world-class infrastructure and provide a stable fiscal regime to attract larger foreign investments in India. A large number of incentives and facilities have been offered to the units in SEZs for attracting investments into the SEZs. This article analysis the benefits and incentives. ARREST UNDER THE CUSTOMS ACT – BAILABLE OR NON-BAILABLE OFFENCESection 104 of the Indian Customs Act, 1962 empowers the Commissioner of Customs to order arrest of a person for an offence. Every arrested person is required to be taken to a magistrate without any delay. Customs officer for the purpose of releasing arrested person on bail has same power as enjoyed by the police.Customs Act has not declared whether an offence is bailable or non-bailable one.
This article analyses the legal aspect of various offences for bail. Service tax on rent- refundHome Solution Retail India Ltd v UOI judgment has held notification No. 24/2007 dated 22/05/2007 and circular No. 98/1/2008-ST dated 04/01/2008 illegal and utra vires.Renting per say is not service. Service tax paid on rent is to be refunded. A ROLLER-COASTER RIDE FOR SEZSEZs are designated duty free enclaves which are considered as deemed foreign territories for the purpose of trade operations, duties and tariffs.However, The service sector is given step motherly treatment Banning of Chinese toys- Kids' StoryRecently India banned import of Chinese toys. Optical Fiber CablesThis article highlights the controversy sorrounding classification of Optical Fiber Cables Service Tax on Renting of Residential Property- Mixed UseService tax implication on use of residential property partly for business or commerce
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