News Update

GST - CBIC notifies HSN Codes for a class of supply of 49 different types of chemicalsItaly to host G-20 Summit on Oct 30, 2021Anti-dumping duty on Methylene Chloride extended till Jan, 2021SC tosses out Chanda Kochhar’s petition questioning her removal from ICICI MD’s postGST collection crosses Rs 1 lakh crore in NovemberBoard of Trade meeting to discuss foreign trade policy, Atmanirbhar BharatJob Work - RedefinedST - New pleas can be raised for the first time before the Appellate Authority, if it is established that such grounds are bona fide and were not raised earlier for good reasons: CESTATTerrorism most important challenge faced by region: India at SCOAdmission of additional evidences by CIT(A) without providing an opportunity of being heard to the AO while finalising the Block Assessment, is invalid: HCWhere a research project relating to scientific development, has received approval as per Rules 18D & 18DA of the I-T Rules, it is not open to the AO to question the approval so granted: HCRe-assessment proceedings are invalid if notice u/s 143(2) is issued beyond the prescribed statutory limit: ITAT30 lakh paddy farmers benefit from Kharif Marketing Season Procurement OperationsExpenditure incurred on replacement of Jigs and fixtures qualifes as revenue expenditure: ITATKVIC Honey Mission helps UP migrant workers earnDighawara-Bandikui railway route electrified between Ajmer and DelhiMilling of paddy - By-products form part of compensation but not consideration - Value of broken rice, bran and husk cannot, therefore, be treated as part of the consideration for levy of GST: HCGST - Orders of public servants, some of whom are quasi judicial authorities, which have far reaching effect on the life, liberty, property and welfare of the public must be based on cogent reasons: HCCAROTAR Rules, 2020 - Is the remedy worse than the disease? (See 'THE INSIGHT' in Taxongo.com)Modi seeks suggestions on regulatory process from teams working on COVID-19 vaccineStoring finished goods in outside godowns - In current era of liberalisation and simplification of law and procedures, recovery of MOT is no longer warranted - refund ordered with interest: HCIncome tax raids IT SEZ developer; searches 16 premises in Chennai, Mumbai & Hyderabad

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