News Update

CAG's Audit Report on Entertainment Sector - An Overview (See 'THE TOG INSIGHT' in Taxongo.com)ST - Residential complex service - Completion certificate - Sale of immovable property - Exempt services - As at the time of taking credit, there was no existence of any exempted service, therefore, there is no application of Rule 6 of CCR: HCPost - Sale Discounts: Clarification or Confusion?RBI levies Rs 7 Cr penalty on SBI for not complying with guidelinesGST - An agenda for reforms - Part 46 - Amnesty season - Time to bring Settlement Commission for GST disputesRajasthan HC asks lawyers not to call Judges as My Lord; Addressing SIR is fineIt is fit case for remand if adjudication order passed is cryptic and does not consider relevant parameters while disposing of stay petitions: HCTariff Values of all Edible oils see a dip whereas that of Gold and Silver hiked marginallyCus - As far as relationship has not influenced pricing pattern, there is no justification for inclusion of royalty and technical know-how in AV of imported products: CESTATDefence Industrial Corridors - Consultant hired to prepare Project ReportAdditions can be made on basis of peak credit theory if assessee fails to explain genuineness of transactions: ITATDigital Healthcare to deliver services at doorstep: Dr Harsh VardhanCX - On provisional release, goods were cleared on payment of duty, therefore, order of confiscation is not as per law: CESTATPetro Sector contributed about Rs 6 lakh crore to Central & State Exchequers last yearRevisional power exercised by subordinate officer on behalf of CIT in delegation of power, is not permissible as per Sec 263: ITATST - Assessee is himself operating the power plants and not managing the same for others - maintenance is in the nature of self service, not taxable: CESTATProvision created for post-retirement medical benefit can be held as ascertained liability and is allowable as expenditure: ITATCX - AA is bound to make assessee aware with the materials collected behind their back and to give them adequate opportunity to meet the case of Revenue - Matter remanded: CESTATDespite remand proceedings, if AO fails to place any incriminating materials found during survey operations, no addition for suppression of yield can be made: ITATST - Unjust enrichment is not applicable even when refund amount is claimed as expenses in the P&L Account: CESTATNo penalty u/s 271(1)(c) can be imposed merely because claim of deductions are found to be untenable & no act of concealment is recorded: ITATCX - Merely for procedural lapse, substantial benefit of CENVAT credit cannot be denied - credit taken on the strength of first stage dealer invoice even though issued by importer is admissible: CESTATSum held in fiduciary capacity cannot be taxed as income in hands of holder: ITATFailure to reconcile differences in sales figures as reported in books to that of corresponding figures reflected in TDS statement, calls for penalty: ITATIndia's exports in June month logs negative growth of 9.7%Over 9622 acres of defence land stand encroached; UP, Maharashtra, West Bengal and Assam top the tallyCBDT issues AGT order of 122 ACIT / DCIT on All India basisGST - Slabs of Quartz (Artificial stone) is classifiable under HSN 6810 1990 and attracts GST @18%: AARGST - Air-conditioning work for new building carried out by applicant is a Composite Supply; Ch. 8415 @28% GST: AARGST - Healthcare treatment to patients through Ayurveda, Naturopathy, Yoga by appropriate diagnosis and intake of medicines - applicant qualifies as clinical establishment, Nil rate GST: AARGST - Converting bare shaft supplied by customers to 'Sugar Mill Rollers' is supply of goods and not services: AARGST - Offering advisory services is not covered under mandate of Authority - application rejected: AAR
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Defence Industrial Corridors - Consultant hired to prepare Project Report
July 16, 2019
Digital Healthcare to deliver services at doorstep: Dr Harsh Vardhan
July 16, 2019
Petro Sector contributed about Rs 6 lakh crore to Central & State Exchequers last year
July 16, 2019

Closure of CPSEs in W Bengal - No centralised data on disposal of assets
July 15, 2019

Govt takes steps to woo Research by smaller Companies in Defence Projects
July 15, 2019
DRI prosecuting crew of Pak fishing boat seized off Gujarat coast
July 15, 2019

Early preparations begin for IFFI Golden Jubilee celebrations
July 15, 2019

DRI detects duty evasion to tune of Rs 15 Cr; M/s Future Enterprises CFO arrested
July 14, 2019

Fastest poverty reduction - India managed it between 2005 to 2015: UNDP
July 13, 2019

No study being done to ban import of any agri product: Minister
July 13, 2019

Exports of electronic goods & chemicals have improved: Goyal
July 13, 2019

Goyal going on three-day trade visit to UK
July 12, 2019

India involved in 14 WTO disputes; Domestic law firms handling all: Minister
July 12, 2019
India, China hold workshop to trade expertise in Pharma
July 12, 2019
India-USA bilateral trade may grow to USD 238 bn by 2025: Report
July 12, 2019
Govt sets up Gaganyaan National Advisory Council
July 12, 2019
Model Tenancy Law to mitigate problem of vacant houses
July 12, 2019
GST rates on textile items lesser than pre-GST taxes: Minister
July 12, 2019
SOP in place to help Indian crew in ships to deal with pirates: Govt
July 11, 2019

Rule 56(j) invoked against 17 Group-B officers: Minister
July 11, 2019

Manufacturing Sector contribution marginally down in last three years: Goyal
July 11, 2019
581 cases of violation of FDI Norms being probed by ED
July 11, 2019
Registration of X-ray machines - Regulator tightening guidelines
July 11, 2019
14 States have banned e-cigarette but same being imported under different HS Codes: Minister
July 11, 2019

Cabinet approves Bill proposing Death Penalty for Sexual offences against Children
July 10, 2019

Cabinet nod for Bill to bring 13 labour laws under New Code
July 09, 2019
Cabinet nod for Organized Group 'A' Status to Indian Railway Protection Force Service
July 09, 2019
Cabinet approves launch of Pradhan Mantri Gram Sadak Yojana-lll
July 09, 2019
Govt taking steps to reform bureaucracy
July 10, 2019
Second India-Russia Economic Dialogue to be held today
July 10, 2019
States given Rs 93 Cr to set up Cyber Forensic Training Labs
July 10, 2019
Due date for filing income tax returns - No representations to extend it: MoS
July 09, 2019
RBI takes steps to prevent ATM misuse
July 09, 2019
Pre-filling of tax returns to be more accurate: CBDT Chief
July 09, 2019
Govt further strengthening tech backbone of Income Tax Department: MoS
July 09, 2019
Govt targets 20% blending of ethanol in petrol by 2030: Pradhan
July 09, 2019
VAHAN & SARATHI now linked with stolen vehicles data: Gadkari
July 09, 2019
DNA Technology Bill tabled; Minister explains purpose in House
July 09, 2019

NEMMP scheme - A step in direction of National Fuel Security
July 08, 2019

Dedicated portal set up to connect job seekers & employers: Gangwar
July 08, 2019
Finance Bill retrospectively amends certain provisions of Benami Act
July 08, 2019
Vice President calls for model law to make land deeds & registration litigation-free
July 07, 2019
Jaipur added to UNESCO's list of World Heritage sites
July 07, 2019
GST Alternate Composition Scheme - Extension of Last Date
July 05, 2019
India imposing addl tariff on imports from USA; WTO consultations requested
July 05, 2019
Out of 351 SEZs notified only 232 are operational today: Govt
July 04, 2019
India has 59 STPI Centres; 24 more being set up
July 04, 2019
Retaliatory tariff on USA to mop up USD 217 mn import duty: Goyal
July 04, 2019
Govt to issue Rs 6000 Cr Recapitalisation Bonds for Exim Bank
July 04, 2019
GSTR-9 & 9C - Govt issues further clarifications
July 03, 2019
Cabinet approves move to lease out three airports on PPP basis
July 03, 2019
Cabinet okays India-Maldives MoU for ferry services
July 02, 2019
Cabinet grants Organized Group 'A' Service to Group 'A' Executive Cadre Officers
July 02, 2019

Smuggling racket - Key accused's daily transactions ranged between 8 to 16 kg gold per day
July 03, 2019

Aid for trade helping DCs diversity: OECD Report
July 03, 2019
Govt to enhance import limit on Tur dal under QR
July 03, 2019
Govt eyes boosting agri exports to Rs 7 lakh Cr by 2025: Goyal
July 02, 2019
FM explains background of withdrawal of CBDT Circular on provisions of Sec 56(2)(viia)
July 02, 2019
IRDAI received three plaints relating to fraud policies: FM
July 02, 2019
Fadnavis to head high-powered panel for Transformation of Indian Agriculture
July 02, 2019
GST Day - Fake Invoice walon ki khair nahin , says MoS for Finance
July 01, 2019
GST mop-up in June goes below Rs 1 lakh Crore
July 01, 2019

International Cooperatives Trade Fair to be held in Oct
July 01, 2019

Corruption Cases- Prosecution launched against 40 IRS officers in 2018
July 01, 2019
GST 2nd Anniversary - FICCI for immediate inclusion of natural gas under GST
July 01, 2019