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NEWS FLASH

Another round of India-EU BTIA concluded

Sahar Airport Customs seizes 3000 euros and gold jewellery worth Rs.58 lakhs in different cases

Various notifications amended in relation to changes made in FTP (See 'What's New')

GoM working towards granting 'functional autonomy' with accountability to CBI: P Chidambaram

CBEC extends anti-dumping duty on Persulphates imported from China and Japan for five years (See 'What's New')

China, India to be biggest investors by 2030: WB Report

I-T - Whether foreclosure charges paid to bank on housing loan can be said to be covered under definition of Interest u/s 24(b) - YES: ITAT (See 'Breaking News')

Oil Exploration Sector - Exemption Explained (See 'DDT' Column)

Notfn 41/2012-ST - Refund procedure of ST paid on Input Service (See 'ST se GST tak' Column)

Quota benefits extended to income earners upto Rs 6 lakh annually (See 'Mixed Buzz')

SAIL & RINL allowed direct import instead of going through Transchart (See 'Mixed Buzz')

Common order passed by Commr(A) - Five separate appeals to be filed before CESTAT (See 'DDT')

Whether amount belonging to Govt. exchequer can be allowed on accrual basis (See '2013-TIOL-364-ITAT-MUM')

Health gap between countries is narrowing: UN Report (See 'Mixed Buzz')

Union Cabinet amends income threshold to exclude socially advanced persons from list of other Backward Classes + okays proposal to allow SAIL & RINL to charter ships for direct import instead of going through Transchart

Malaysian Cabinet includes six Indian-origin Ministers

CBI inks MoU with FIU-India on exchange of information relating to economic offences

CBEC clarifies on difficulties being faced in availing exemption relating to Oil Exploration Sector (See Cir 21 in 'What's New')

CBEC notifies Customs exchange rates w.e.f May 17 (See NT 54 in 'What's New')

President appoints Lt Gen (Retd) Nirbhay Sharma as Governor of Arunachal Pradesh

Local Body Tax: Much Ado About Nothing! (See 'The Cob(Web) Column)

I-T - Whether normal rule of valuation of stock-in-trade that they are valued at cost or market price whichever is less at end of year can be applied to derivative contracts also - YES: ITAT (See 'Breaking News')

VCES, 2013 - The carrot and guillotine policy? (See 'DDT' Column)

National Pension System schemes earn double-digit returns (See 'Mixed Buzz')

Same old story - Defects not removed, hence appeals dismissed by CESTAT (See 'DDT')

UN urges private sector to focus on disaster risk reduction to curb economic losses (See 'Mixed Buzz')

China all set to become world's leading importer of rice (See 'Mixed Buzz')

CBEC reduces tariff value for Gold, Silver, RBD Palm Oil etc (See NT 53 in 'What's New')

A K Sinha, 1979 Batch IPS of Bihar Cadre joins CBI as Special Director

CBEC finally manages to issue All-India transfer order of 26 Addl/JCs + local transfer of 20 officers (See Order in 'Transfer' in Pitara)

Ahmedabad DRI recovers Rs 13 Cr safeguard duty out of Rs 15 Cr evaded by importer

CBEC notifies NFSG benefits to 20 officers + CBEC grants fresh posting to 10 IRS probationers (See 'Promotion' & 'Transfer' in Pitara)

Govt constitutes Committee headed by Dr Raghuram for evolving Composite Development Index for helping out States

Bond vs Gold: MoF to launch Inflation Index Bonds soon (See 'Mixed Buzz')

FM takes off today on five-day three-nation tour (See 'Mixed Buzz')

Defence Minister says Public has perception that Govt not serious on corruption

MoF okays 8.5% interest rate for PF deposits in last fiscal

VCES, 2013 Rules and forms notified (See 'DDT' Column)

Reinvent fiscal federalism to usher in economic efficiency & good governance (See 'Ice Cubes' Column)

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