News Update

Govt amends SEZ Rules to allow drawback or any other benefit if payments are in foreign currency in case of supplies from DTA to foreign suppliers in FTWZA Tax on Walking, Reading... for the disabledAnti-Dumping duty on Fluoroelastomers (FKM) imported from China PR extended up to 27th November, 2020Vivad se Vishwas Scheme - CBDT extends due dates for filing declaration and making payments to Mar 31, 2021Export of NBR Gloves - Procedure for submission of applications explainedST - When credit was reversed without utilization, no interest can be recovered: CESTATSC favours sending summons through SMS, email & WhatsappCus - Supply to SEZ is be counted towards NFE - Since capital goods were supplied by appellant to SEZ unit duly approved by Development Commissioner, requirements of EXIM policy have been duly complied with: CESTATPunitive vigilance is better than preventive vigilance: PMGoyal for long-term roadmap on reforming ailing global trading systemCX - Appellants are entitled for Cenvat credit in respect of inputs procured by themselves and used in manufacture of job work goods cleared under 214/86-CE: CESTATIndia Post & USPS sign pact for exchange of Customs Data related to postal shipmentsST - Services rendered to SEZ units - 9/2009-ST issued u/s 93 of FA, 1994 has no application as they are not ‘prescribed' under SEZ Act: CESTATAssessment completed after due date, on the basis of special audit conducted belatedly u/s 142(2A), is void ab initio: ITATAdmission fees paid to obtain membership of a stock exchange is treatable as capital asset: ITATUnexplained excess stock found during the course of the survey is to be treated to be part of book profits & taxable under head 'profits & gains of business or profession': ITATAnti-dumping duty on imports of FKM from China extended till Nov 27, 2020Bilateral Netting - A Step Towards A Vibrant Financial Sector (See '')Balance Euphoria over Corona Vaccine with Rationalism ShotsUS files appeal against WTO panel decision in favour of China in tariff war caseRevised E-way bill not uploaded on portal - goods and vehicle detained - same can be released on furnishing BG for the amount covered by the notice issued u/s 129(3): HCIncome Tax searches in NCR, huge accommodation entries detectedUnion Budget 21 - MoF seeks direct & indirect taxes related suggestions from Industry & TradeIndia moving towards gas-based economy: PMGovt extends facility of childcare leave to male employees
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