News Update

Cus - PCBs are parts of specific telecommunication equipment rather than complete machines - Reduced duty of 10% applicable on import of PCBs for manufacture of telecom equipment like GPON ONTs/OLTs: AARCBIC issues posting-cum-transfer order of 13 IRS officers of several ranksCus - CESTAT not vested with jurisdiction over drawback-related matters as per Sec 129A of Customs Act, 1962; appeals dismissed in favor of Review Application before GoI: CESTATAmerican IRS chief to quit on Monday, paving way for Trump to appoint new pickFTAs being negotiated to open doors to many markets for Auto sector: GoyalTrump’s inauguration moves indoors as mercury dipsCX - In case of sale of goods on FOR basis, when freight is integral part of assessable value on which excise duty was paid, assessee is eligible for Cenvat Credit on outward transportation: CESTATKarnataka Caste Census report to be placed before State CabinetPM to distribute 65 lakh Property Cards under SVAMITVA SchemeCanada says Americans will be hit by ‘Trump Tariff War’ if duties are hikedCX - There shoul be concrete and corroborative evidence in cases involving allegations of excise duty evasion and clandestine manufacturing : CESTATAmerican SC upholds law to ban TikTokIREDA, SJVN, GMR & NEA lock deal for 900 MW Hydropower Project in NepalUS Govt sues Pepsi over discounts to Walmart at cost of smaller competitorsI-T - Loan advanced by partners to their limited liability partnership firm cannot be added u/s 68 if transactions were carried out through book entry and banking channel: ITATQuad Foreign Ministers to talk after Trump’s inauguration dayNew Sanchar Saathi Mobile App brings security tools directly to fingertips of citizensGaza Ceasefire to roll out from todayI-T - Once assessees have issued shares at fair market value computed in accordance of Rule 11UA, then no enhancement can be made by applying protective additions u/s 56(2)(viib): ITATBudget Session to commence from Jan 31; Budget to be presented on Feb 1India's economic prosperity is linked to maritime security: RM12 Indian nationals fighting for Russian Armed Forces KIA in Ukraine; 16 remain MIA: Ministry for External AffairsI-T- Rejection of books of accounts without complying with conditions prescribed u/s 145(3) of the Act, is invalid : ITAT
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Former Prime Minister, Dr Manmohan Singh, delivering his Award Acceptance Speech after receiving TIOL Fiscal Heritage Award 2022 on Nov 8 at Taj Palace, New Delhi



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