News Update

I-T - Technical issues faced in filing TDS return online are bona fide reason for delayed filing of TDS returns - penalty not warranted: ITATST - Refund - Rule 5 of CCR, 2004 - No provision in CCR imposes restriction of requirement of registration as condition precedent for claiming CENVAT credit: CESTATMCA invites comments on Draft on cross-border insolvencyCCI gives nod to acquisition of Monsanto by Bayer AGSmuggling racket busted - Delhi DRI nabs 8 persons & seizes gold worth Rs 2.1 CroreIlegal immigration - enlarge labour market to deal with it: OECDShillong is selected as 100th city under Smart City MissionChief Economic Adviser Arvind Subramanian quits on family commitments groundCommerce Minister releases National Strategy for StandardizationComputation of interest - CBDT invites comments on amendment in Rule 10CB (See 'TII Brief')CBDT notifies PFC & Railway Finance Corp 54EC Capital Gains BondsGovt relieves IRS officer Nilimesh Baruah to join CTPA in OECD as Sr AdvisorGST Metered (See 'JEST GST on GST Home Page')J&K is back to Governor's Rule - 4th time in last 10 yearsGST: A Frightening but Fascinating Future world…! – Part II (See 'TOG INSIGHT' on 'Taxongo.com')ST - There is distinction between interest earned by bank and disaggregation of equated monthly instalments earned by financial institution engaged in financial leasing and hire-purchase: CESTATCMs subgroup set up on approaches to Agriculture & MGNREGSST - Fitment within an alternative classification suffices to erase proposal in the notice but cannot crystallize liability unless alternative was also proposed in notice: CESTATAdopt A Heritage Scheme - 6 MoUs are at advanced stageI-T - When statements taken during search are based on documents indicating that assessee collected cash receipts in addition to cheques, such situation comes within sweep of Explanation 5A(b) to Sec. 271(1)(c): ITATGovt targets 5GW wind energy by 2022Notfn. 12/2003-ST speaks of 'value' of materials and not 'cost' of materials - no reason to demand service tax on 10% profit at which material is sold by appellant: CESTATIndia aspires to be USD 10 trillion economy by 2030: DEA Secretarye-Way Bill - Govt introduces Unique Common Enrolment Number facility for transporters registered in many States with same PANCBIC revises new exchange rate for South African RandCBIC grants Non-Functional upgradation on ad hoc basis to 15 officersRailways aims at 2030 to become zero carbon emitterNIFTEM has potential to become Harvard of food processing sector: MinisterGST - Five key aspects GST payers should not miss!Pre-notice Regulations - Boon or Bane?HM calls for expediting online cybercrime reporting portal
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