News Update

Sushant case - SC directs Maharashtra Govt to file investigation status report in three daysIndia asks China to mind its own internal affairs after China comments on abrogation of Art 370CBIC New Members directed to retain their CC charge till further orderCOVID-19: India tests more than 6 lakh in 24 hours for second day in a rowCBIC issues attachment order of three senior IRS officersPersistent lockdown further slows down Services PMI for July monthNoted singer S P Balasubrahmanyam tests positive for COVID-19Slump sale versus Transfer of going business and Merger under GSTInventory Write-off - Post-GST & Pre-GST (See 'THE INSIGHT' in Taxongo.com)Massive fire in Beirut warehouse of flammable materials - Over 50 killed & 500 injuredGST Compensation - Gift, Statute, Trust?ST - No service tax payable under 'reverse charge mechanism' in respect of service charges paid to Rajasthan Police who are peforming statutory function of safeguarding currency chest: CESTATCus - 'GoPro HERO5 Black' Action Camera is classifiable under CTH 8525 8020 and entitled for benefit of duty exemption provided under 50/2017-Cus: CESTATFaceless Assessment - Over 58K cases selected to be disposed off by mid-September: CBDTST - Mining as a separate category of service liable to Service Tax was introduced only w.e.f. 01/06/2007, therefore, no demand prior to this date: CESTATCX - Buyers' premises can never be place of removal - Therefore, no CENVAT credit is admissible on outward transportation of goods even though sale of goods is on FOR destination basis: CESTATST - Activity of conducting Government transactions on behalf of RBI, carried out by assessee-bank, is of the nature of sovereign function performed on behalf of the Government & hence is not taxable: CESTATCOVID-19: Recovered cases now more than double of Active casesCus - Betel Nuts are not notified goods u/s 123 of Customs Act & so onus of proving foreign origin & smuggled nature of a particular consignment, rests with the Revenue - seizure of such goods is not tenable where proper documents are submitted by importer: CESTATOrder passed u/s 201(1) & 201(1A) is not sustainable where the officer who passed such order is not vested with jurisdiction over TDS matters: ITAT10,000 participants competed for 36 hours in 4th edition of Smart India HackathonTax and interest liability computed by AO on a different sheet of paper, will form part of the assessment order where the AO approves such computation immediately or some time later: ITATUnder PMGKAY-2, total 44.08 LMT food grains lifted by StatesProvision for costs on completed contracts based on identified & ascertained present liabilities, is allowed where based on technical assessments & projections of project managers, who are experts in their field: ITATDGFT allows export of all ventilators including breathing devicesCOVID-19: Global tally rises to 1.86 Crore & Death toll rises to 7 lakhDifficulty in activation of TAN & being informed about TDS liability only upon receiving demand notice, is sufficient plea to explain delay in filing returns: ITATRetailing of petro products - Govt eases guidelinesBihar Govt recommends CBI probe into Sushant Singh Rajput case
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