News Update

CBI registers case against Netherlands-based Ballarpur International Holdings for Rs 151 Cr bank fraudSinking birth rate - China allows students a week off to ‘fall in love’Strong thunderstorms kill 22 and rip off houses in 8 of Central US StatesWB Chief worries over rising Chinese loans to AfricaUkraine scoffs at Russia assuming presidency of Security CouncilUS smackdown with crypto industry helping HK welcome them with open armsGST - March collections peak to Rs 1.6 lakh croreIndia’s defence exports peak close to Rs 16,000 CroreGoogle upgrading Bard to compete with ChatGPTCOVID surges back; 2994 cases reported in 24 hoursEven after being fined, Delhi CM again asks for details of PM’s degreesCus - CESTAT's reasoning and conclusion that LCD panels [used in TV sets; Audio systems in automobiles] are classifiable under CTH 9013.8010 is sound and unexceptionable: SCGovt’s debt grows by 2.6% in Q3 of FY 2022-23CX - Once the order-in-original sanctioning refund came to be set aside in a proceeding u/s 35E, there is no question of any further notice u/s 11A: SCGST - Amendment to Rule 89(4)(C) of CGST Rules is illegal, arbitrary, unreasonable, irrational, unfair, unjust & ultra vires Section 16 of IGST Act & Section 54 of CGST Act as well as Articles 14 & 19 of Constitution; hence merits being quashed: HCST - Re-insurance does not cover the risk to the asset; is not excluded from the definition of 'input service': HCCBDT inks 95 Advance Pricing Agreements in FY 2022-23I-T - Addition made w.r.t. profits from diamond purchases is upheld, where assessee is not shown to have sufficient bank balance to purchase diamonds & is unable to explain how such purchases were made: ITATGovt culls Rs 17.3 lakh crore tax revenue net to Centre by Feb-endScindia inaugurates direct flight between Indore and SharjahIndian exports eyeing USD 2 trillion target by 2030: GoyalCus - Merely because appellant has been issued a License by Drugs & Cosmetics Act, it cannot be said that Saccharomyces Boulardii are known and understood as medicine, same are to be classified under Chapter 21: CESTATWith Presidential assent, Finance Act 2023 gets enacted w.e.f April 01, 2023Italy bans AI-driven bot ChatGPTPowerful tornado hits Arkansas; Central US gears up for aggressive weatherKozhikode Airport Customs seizes gold worth Rs 2 CroreManish Sisodia again denied bail; Nothing wrong in arrest warrant found

TODAY'S CASE (DIRECT TAX)

TODAY'S CASE (INDIRECT TAX)

What's New (Others)

Income Tax Notification
Income Tax Circular
Customs Tariff Notification
Customs NT Notification
Customs Circular
Anti Dumping Notification
DGFT Notification
DGFT Public Notice

What's New (GST)

CGST Rule Notification

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CGST Rate Notification
CGST Circular
IGST Rule Notification
IGST Rate Notification
UTGST Rate Notification
UGST Rule Notification
Cess Rate Notification

JEST GST by Vijay Kumar

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