News Update

CX - Mobile tower tower & pre-fabricated buildings are goods & not immovable property; since these are used for providing telecommunication services, they also qualify as inputs under Rule 2(k); are eligible for Cenvat Credit: SCTrading in Crypto: Let there be interim VDA Exchanges until law is madeFourth bulk shipment of 840 MT Onion reaches Delhi via rail rakeGST - Challenge to the constitutional validity and legality of Sections 7, 12, 13 and 16(2)(b) of the Act are rejected: HCISRO targeting 10% of global space economy in next 20 yearsGati Shakti Vishwavidyalaya holds Court meeting in Rail BhawanGST - Trans Harbour Link - Payment received as an advance would partake the character of 'consideration' in relation to supply of services - 'Mobilization advance' is taxable: HC113-yr-old lady voter casts vote in MaharashtraG20 Declaration on DPI, AI and Data for Governance endorsed by several countriesGST - ITC -Section 16(1) -Different voices - Position as taken by the GST Council is required to be accepted - 'Receipt Voucher' is a tax paying document: HCIndia, Australia ink pact for investments into renewable energyGST - ITC - There needs to be a harmonious interpretation of provisions of s.13 r/w provisions of s.16: HCWhat a surplusage - Why More Law Isn't Always BetterUK farmers protest against ‘tractor tax’ on inheritanceTrump team laces up to roll-back Biden’s EV regulationsI-T- Indexation benefit allowed to assessee in cases where allotment letter issued by the Housing Society reveals assessee legally holding the property: ITAT10 more Pak soldiers killed in suicide attackFor 6th generation fighter jet, Japan, UK & Italy to invite more countriesACC okays promotion of 25 CBIC officers to Chief Commissioner-gradeG20 Summit: Brazil scissors debate on Ukraine; European members find it irksomeI-T- Addition u/s 68 is sustained where assessee fails to explain source of cash deposits despite opportunities granted by AO: ITATLA City Council passes ‘sanctuary city’ ordinance for migrantsNadal ends career on tearful note after Davis Cup defeat20.6 lakh new workers enrolled under ESI in September, 2024I-T- Provision for probable losses recognized by the assessee is allowable deduction under relevant accounting standards & tax regulations: ITATPM meets UK counterpart in Brasilia; FTA talks to resume soon; India to open consulates in Manchester & Belfast

TODAY'S CASE (DIRECT TAX)

TODAY'S CASE (INDIRECT TAX)

What's New (Others)

Income Tax Notification 118
Income Tax Circular
Customs Tariff Notification
Customs NT Notification
Customs Circular
Anti Dumping Notification
DGFT Notification
DGFT Public Notice

What's New (GST)

CGST Rule Notification

26

CGST Rate Notification
CGST Circular
IGST Rule Notification
IGST Rate Notification
UTGST Rate Notification
UGST Rule Notification
Cess Rate Notification

TIOL Tube Latest

Conferment of TIOL Awards 2024. The event was held on October 1, 2024 at Taj Palace, New Delhi



Technical Session I - Ease of Doing Business: GST on Digital Economy