News Update

White House inks Executive Order to continue enhanced unemployment doles during Corona timesPM launches Rs 1 lakh Crore agri infra fundGadkari calls upon industry for suggestions to uplift economyIndia to stymie import of 101 military equipment to promote domestic industry: Defence MinisterPlasma Bank at ESIC Medical College & Hospital at Faridabad inauguratedPM launches Rs 1 lakh Crore agri infra fundMajor inferno in Vijayawada hotel-cum-COVID-19 hospital kills 7; PM mourns deathsCOVID-19: Global tally inching close to 2 Crore with 7.27 lakh deaths including 43K in India and over one lakh in BrazilGovt converts 21 ESI hospitals into dedicated COVID-19 hospitalsGadkari favours expanding MSME footprint in 115 aspirational districtsNDPS - There is no recovery being effected from petitioner either for substance or money trail - Petitioner to be released on bail: HCGST - Anti-Profiteering - Direction of Authority to expand scope of investigation to 'other impacted products' and letters of DGAP in this regard seeking details/documents stayed: HCCBDT issues transfer order with addl charge for senior IRS officersCBIC keeps taxpayers' issues at core: ChairmanPMAY - Proposals for construction of 10.3 lakh houses get nodExpenses incurred on repair of rooms do not qualify as capital expenditure particularly when hotel is not permitted to raise room tariff: HCA crime investigation agency is not eligible for registration u/s 12AA & u/s 80G as its activities are not categorised as charitable in nature: ITATCBIC posts Hasan Ahmad as OSD in Drawback division of BoardDisallowance u/s 40A(2)(b) can be made solely because the rent payment was made to a related person of the assessee company: ITATGovt exempts imports linked to Kudankulam Nuclear Power Project Units 5 & 6PM to inaugurate submarine cable connectivity to Andaman & Nicobar IslandsCus - No refund can be claimed in respect of any assessment including self assessment unless the assessment itself is challenged and set aside by the appellate authority: CESTATIs there a time limit to avail ITC of GST paid under Reverse Charge? PART-II (See 'THE INSIGHT' in revises Tariff Value of Gold bars & Gold coinsIndia’s forex kitty swells by USD 56.8 billion since April; total tally rises to UD 534 billion, sufficient for over 13 months importsCOVID-19 Effect - RBI sees rising pressure on prices of protein-based foods items in coming monthsUncertainty brings a window of opportunities

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