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ITAT UPDATES - Even if commercial transaction is at arms’ length, debt overdue for long period attracts transfer pricing interest | CBDT UPDATES - CBDT Issues TDS Circular for Salaried | ITAT UPDATES - If Transfer Pricing difference is less than 5%, actual price should be taken as ALP | ITAT UPDATES - Expenditure claimed in the business of share dealings cannot be correlated to the incomes earned in personal capacity | SERVICE TAX CIRCULAR NO 132 - Fumigation of export cargo including agricultural/horticultural produce does not satisfy the statutory definition of ‘cleaning activity' | CBEC CUSTOMS CIRCULAR NO-04 - CBEC issues guidelines Handling of Cargo in Customs Areas Regulations, 2009 | DGFT PUBLIC NOTICE NO -21 - DGFT issues procedure relating to tracing and tracking of export consignment of pharmaceuticals and drugs | HC UPDATES - Section 80IA(9) affects allowability of deduction and not computation of deduction.  | CUSTOM NOTIFCATION NO -02 - No Import duty on raw, refined or white sugar to attract NIL rate of duty | CUSTOM NOTIFICATION NO - 01 - Import duty on all items required for the initial setting up of a solar power generation project or facility reduced to 5 % | SC UPDATES - The underlying principle of natural justice, evolved under the common law, is to check arbitrary exercise of power by the State or its functionaries. | SC UPDATES - Even s. 115J / 115JA Book Profit Cos liable for advance-tax & s. 234B interest | 2011-ITS-013-CESTAT - No law can be interpreted in a manner so as to give premium to illegal and criminal activities. | 2011-ITS-004-CESTAT - The time lost to collect revenue is compensated by collection of interest. | 2011-ITS-002-CESTAT - Once the penal provision of Section 76 and 78 which are subject to benevolency of Section 80 of Finance Act, 1994 does not disclose mala fide of the appellant. |

 

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IRS officers want a monthly salary Rs 1,32,000
NEW DELHI, MARCH 9 (PTI) :- In a memorandum to the Sixth Pay Commission, the Indian Revenue Service (Customs and Central Excise) Association has suggested that the post of the CBEC chairman be upgraded to that of Principal Secretary and he be paid as much as the Cabinet Secretary.

The association also demanded that the CBEC be upgraded to a Department and the retirement age of officers be raised to 62 years.

At present, CBEC chairman gets a fixed salary of Rs 26,000 while the starting salary of an IRS officer, excluding other allowances, is Rs 8,000.

Making a case for market-linked emoluments, the association demanded that the starting salary of an IRS officer should be Rs 26,400 per month, going up to Rs 1,32,000 per month for Members, who should be ranked at par with Secretary in the central government.

The association also demanded harmonised service conditions for All India Services and suggested that same batch officers be simultaneously considered for appointment of Joint Secretary, Additional Secretary and Secretary.

The association further suggested to the sixth pay panel that separate units be set up for Special Economic Zones (SEZs) and collecting service tax.

The CBEC, which currently has a cadre of 2,130 officers, collected Rs 2,40,000 crore in 2006-07 as customs, central excise and service and is expected to mop up Rs Rs 2,79,000 crore during 2007-08.
 

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