Act/Law wise: Judgment of Supreme Court of Bangladesh

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Finance Act (BD)
Section/Order/Article/Rule/Regulation Head Note
Sections 7(3)(17)(18)

Finance Act, 1999 [XVI of 1999]
Sections 7(3)(17)(18)—
By amending section 7(1) of the VAT Act by the Finance Act, 1999 the legislature has made the goods other than the goods which are luxurious, non-essential and socially undesirable also liable with Supplemen­tary Duty and in the light thereof the existing 3rd schedule has been substituted by new 3rd schedule by section 7(7) of the Finance Act, 1999 and that the matter of given effect to the new 3rd schedule gazette notification has been left with the NBR. GM Abdus Sattar vs Ministry of Finance, People's Republic of Bangladesh, and others 8 BLC (AD) 59. ....View Full Judgment

Section 7(17) (18)

Finance Act, 1999 [XVI of 1999]
Section 7(17) (18)—
Since the Customs Authority has assessed the duties on the imported goods in due compliance of the provisions of law as mentioned above the Appellate Division is of the view that the contention of the petitioner that levy of Customs duty, supplementary duty and flood surcharge were without jurisdiction is not well founded in law. Since goods on which VAT and supplementary duty are to be levied have clearly been mentioned in the newly inserted 3rd schedule legislated by the Legislature. The Legislature has only left to NBR the matter of notifying the effective date of the newly inserted 3rd schedule of VAT Act and the same can in no way be said legislation by NBR. Salim (Md) vs Commissioner of Customs and another 8 BLC (AD) 134. ....View Full Judgment

Section 7(15)

The Finance Act, 1998
Section 7(15)-Imposition of value added tax—
Customs authority is empowered to levy taxes on powder milk sold after repacking which has got statutory backing. This is not double taxation and as such section 7(15) of the Finance Act, 1998 is not ultra-vires of any statutory authority. Shah Dairy Products Ltd. Vs. Commissioner, Customs & others. 5 MLR (2000) (AD) 302. ....View Full Judgment

Finance Act, 1999
By the Finance Act 1999, income from a charity has been made taxable. This indicates that a charitable society can invest its money and profit earned from that investment will be taxable. (Per Mahmudul Amin Choudhury, CJ) BRAC v. Professor Mozaffar Ahmed and others, 22 BLD (AD) 41. ....View Full Judgment