News Update

GST - Applicant is not holding license from Insurance Regulator to provide insurance service, hence service will get covered by residuary entry and attract tax @18%: AARCSR - Over 17K 'NGOs' registered with MCA21 registry till Oct-endGST - Applicant, a CHS, cannot be said to provide WCS services to its members - Debarred from taking ITC on GST charged by contractor who carries out major repairs, renovations and rehabilitation work for society: AARNITI Aayog lurches toward Online Dispute Resolution for Speedy JusticeIndia to take a call on booster dose only after quantifying immune response to current vaccinesST - Section 11B cannot be applied when the tax has been paid under mistake and when not required to be paid: CESTATChina pledges to donate one billion vaccine doses to AfricaPMJDY accounts surge to 43.85 Cr with deposit balance of Rs 1.48 lakh CroreOmicron Scare: WHO calls for putting early warning systems in place + mitigation plans; rates ‘Very High’ overall riskCX - The Pre Delivery Inspection (PDI) and After Sales Service (ASS) charges cannot be included in assessable value of motor vehicles: CESTATOmicron infection - Oxygen level does not sink but body fatigue painful, say DoctorsRRBs surpass lending target to Small & Marginal Farmers: MoSCOVID-19: South Africa reports 2300 fresh cases but only 25 deaths + 159 cases with 2 deaths in Botswana + 235 cases with one death in ZimbabweCX - Once credit is taken during period when the same is allowed to be taken, department cannot deny said credit: CESTATRBI takes over Reliance Capital amid growing defaultsI-T - Notice issued to entity which is non existent on account of merger with another entity, is invalid: HCRussia fines Google over USD 40,000 for not erasing banned contentI-T - Revised returns submitted by an assessee cannot be declined solely on grounds that the same had not been filed electronically : HCCanada reports more Omicron cases; Spain finds its firstI-T - Failure of AO to issue notice within the period of limitation u/s 143 (2), which is notice giving jurisdiction to the AO to frame assessment, cannot be condoned u/s 292BB: HC137 Army personnel succumbed to COVID-19, Govt tells Rajya SabhaI-T - Writ remedy cannot be invoked in respect of assessment order which contains a technical error pertaining to computation of tax payable : HCPentagon to undergird military bases in Middle East & strong posturing against China & RussiaI-T - Since for bogus purchases AO has already made disallowance @ 20% which is more than that held by the Jurisdictional High Court, PCIT is not correct in exercising Revisionary Jurisdiction u/s 263 :ITATEU mulls Euro 300 bn infra spending worldwide to countermeasure ChinaI-T - Where AO has taken a view which is possible and plausible, action of AO cannot be regarded as erroneous per se : ITATTwitter CEO tweets his resignation; CTO Parag Agrawal to take over as CEOI-T - For bogus purchases addition should be made only to extent of profit element and in present case such addition can be restricted to 6% : ITAT
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