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Applicability of trade notice

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16 August 2012 What is binding nature of trade advices and trade notices issued by chief CCE or CCE?

CA Suresh Jain

CA Suresh Jain (Expert)
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16 August 2012 The Hon’ble Supreme Court in H.L. Dattu and Chandramauli Kr. Prasad, JJ. UNION OF INDIAVersusNITDIP TEXTILE PROCESSORS PVT. LTD.- 2011 (273) E.L.T. 321 (S.C.) held that Departmental instructions - Trade Notice - Issued by Revenue Department of any one State - It is binding on all other departments with equal force all over the country - Trade Notice guides traders and business community in relation to their business as how to regulate it in accordance with applicable laws or schemes - However, as such, it is not binding on Courts but certainly binding on assessee and they can contest it.

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