Articles by Sumit Grover

Penalty leviable even if service tax is paid before SCN

Sumit Grover 29 December 2014 at 17:57

Recently, Hon'ble Karnataka High Court in the matter of K. Madhav Kamath Brother & Co. v. Asst. Comm. of Central Excise, pronounced that even if service tax is paid prior to Show Cause Notice, still the penalty shall be leviable u/s 76/78, 77

A step towards GST by Modi govt.

Sumit Grover 22 December 2014 at 11:02

On 19th Dec'14, Hon'ble Union Finance Minister, Sh. Arun Jaitley presented Constitution(122nd Amendment) Bill,2014 which focused on the introduction of GST in Indian economy. The following is the gist of amendments proposed by this bill: &bul

Supreme Court: Mobile charger is not a part of cell phone

Sumit Grover 18 December 2014 at 11:42

Honble Supreme Court has delivered a landmark verdict in the matter of STATE OF PUNJAB & ORS. v. NOKIA INDIA PVT. LTD. & pronounced that the mobile/cell phone charger is an accessory to cell phone and is not a part of the cell phone. B

CBEC's race with service tax audits

Sumit Grover 11 December 2014 at 10:55

Less than a week ago, CBEC had empowered CAs & CMAs(nominated u/s 72A) to conduct service tax audits on behalf of service tax department, by setting aside the verdict pronounced by Hon'ble Delhi High Court in case of CAG Travelite (India) Vs.

CAs & CWAs empowered for service tax audits

Sumit Grover 06 December 2014 at 12:15

CBEC has authorised CAs & CWAs(nominated u/s 72A) to conduct service tax audits at behest of service tax department.Statutory provisions--Rule 5A(2) of Service Tax Rules, 1994 authorises department to conduct audit by CAG or any audit party deput

Clarification on amended appeal provisions under IDT

Sumit Grover 17 September 2014 at 12:09

Since enactment of Finance(no. 2) Act, 2014, various ambiguities arose regarding the concept of mandatory pre-deposit of 7.5%/10% at the time of filing appeal before CCE(A) and CESTAT, as the case may be, under section 35F of Central Excise Act, 1944

SEBI- clause 49 of listing agreement

Sumit Grover 16 September 2014 at 10:42

Stock Market regulator, Securities & Exchange Board of India(SEBI) has introduced certain amendments to the revised clause 49,vide circular dated 15th September, 2014, which is to be made effective from 1st October, 2014 onwards. The gist of the