News Update

Import of goods in Completely Knocked Down (CKD) conditionTIOL wishes All Netizens a very Happy 'GST Day' todaySimple does it: Updated Returns under I-T ActTN spurious liquor case: Death toll continues to grow - 65 till dateCBIC issues direction for implementation of New Sea Cargo Manifest & Transshipment RegulationsChina’s draconian anti-spy law comes into effect from today'Statistics Day': India should continue its data driven policy making: PanagariyaBYD opens EV factory in Thailand + LG Energy & Hyundai Motor open EV battery plant in IndonesiaMoS reviews progress of Delhi Dehradun ExpresswayPhilippines to court investors promising ‘China-less’ nickel supply chainHaryana inks MoU with NFSU in PanchkulaFar-Right Party wins first round of French polls; Major setback for MacronUnion Minister visits NIS Patiala and encourages Paris Olympic bound athletesANC finally forms Govt with 12 ministerial berths out of 32 going to coalition partnersI-T- As per settled law, search assessment order u/s 153C is valid where no material incriminating the assessee is found in course of search proceedings: ITATNorth Korea launches two missiles at South KoreaI-T- Withdrawal of depreciation claim cannot lead to a case of concealment of particulars of income so as to justify imposition of penalty u/s 271(1)(c) : ITATBiden not to drop out of Presidential raceI-T- When part refund is granted to assessee, it should be first adjusted towards outstanding interest and then against tax payable : ITATFirst Category-4 hurricane, Beryl, located 420 miles southeast of BarbadosGST - Mandating that refund applications have to be filed electronically is contrary to rule 97A which permits manual filing of applications - Pay 10,000/- as costs: HCBoeing to purchase Spirit Aero for USD 4.7 bnGST - No GST DRC-04 was issued - Payment of Rs.30 lakhs could not have been said to be voluntary as it was done during search, which search completed after two hours of payment - Authorities to return amount: HCGujarat Govt joins hands with IBM to set up AI cluster in GIFT CityBlind reliance on Google map drives two men into river in KeralaGST - Entire liability towards tax, interest and penalty was appropriated from petitioner's bank account - Interest of justice warrants that petitioner be provided an opportunity to contest tax demand on merits: HCGST - Tax proposal was confirmed without the petitioner being heard - Order set aside and matter remanded, but upon the petitioner remitting 15% of tax demand: HCNoida Police busts another faux call centre swindling Americans; 73 arrestedGST - In absence of evidence of non-payment for more than 180 days, it could not have been concluded that petitioner was not entitled to avail ITC - Matter remanded: HCIndia shellacks South Africa to bring home T20 World Cup trophyGST - ITC - Purchase of goods vehicle, whether for furtherance of business - Petitioner to remit 10% disputed tax - Matter remanded: HCIMF finally okays USD 360 mn loan to GhanaGST - Petitioner could not participate in the proceedings since being unaware of the same - Matter remanded subject to petitioner remitting 10% of disputed tax demand: HCItaly to investigate involvement of illegal labour by Dior suppliersGST - Petitioner's reply was construed as vague and not trustworthy because they failed to submit documents for reconciliation - Re-consideration is warranted in interest of justice subject to deposit of 10% of disputed tax: HCIran threatens to annihilate Israel if Lebanon is attackedST - The case needs to be re-heard by Original Adjudicating Authority giving opportunity to appellant to defend their case effectively and explain the nature of income in respect of which Department is alleging levy of Service Tax: CESTAT7 killed as two cars ram into each other on Mumbai-Nagpur expresswayCX - The services on which credit was availed are integral to the business of manufacture carried out by appellants, impugned order cannot be sustained and is set aside: CESTAT
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