SIGN IN SUBSCRIBE

News Update

Cus - Export of non-basmati rice - Notification 20/2023 insofar as it denies the benefit of the transitional arrangement as contained in para-1.05 of the FTP 2023, is bad in law: HCCus - Refund of SAD - 102/2007-Cus - Areca Nut and Supari are one and the same - Objections with regard to name, nature and status of importer or buyers or the end use of goods purchased by them etc. are extraneous: HCCX - Interest on Refund - Since wrong order annexed by petitioner in paper book, Bench is unable to proceed further - Petition is dismissed with liberty to file a fresh one: HCGST - No E-way bill - When petitioner imports machinery and after Customs clearance, transports same to his own factory, it cannot be said that such a transportation would fall within the definition of term 'supply' - Penalty imposable under second limb of s.129(1)(a): HCGST - Fix responsibility on officers who allowed BG to lapse - Petitioner not justified in not renewing BG - Cost of Rs.15 lacs imposed, to be paid to PM Cares Fund: HCGST - Since the parties agree that petition can be disposed of on the basis of records available before Appellate Authority, petitioner is directed to enclose all documents filed before Appellate Authority in a compilation, in form of a paper book: HCWrong RoadST - Whether any service is used for personal consumption or not is certainly question of fact and being question of fact, no substantial question of law arises: HCGovt proposes to amend Geographical Indication of Goods Rules; Draft issued for feedbackST - If what has been paid as tax is without authority of law, Revenue should refund the same - Denial of credit would result in the whole exercise being tax neutral: HCWarehousing Authority notifies several agri goods to be stored in only registered warehousesST - Even if the petitioner may have a case on merits, it is best left to be decided by the Appellate Authority under the hierarchy prescribed under the FA, 1994: HCUS FDA okays Eli Lilly Alzheimer’s drugGST - Petitioner challenges jurisdiction of assessing officer - Petitioner is entitled to file an appeal u/s 107 by availing an alternate efficacious remedy: HCFive from Telangana killed in car accident on Pune-Solapur HighwayGST - Existence of an alternative remedy is a material consideration but not a bar to the exercise of jurisdiction: HCHush money case against Donald Trump - Sentencing deferred to Sept 18GST - It is open to a trader to take goods by whichever route he opts, unless the law otherwise requires, destination point being intact: HCDeadly hurricane Beryl smashes properties in JamaicaGST - Conclusion that taxable person is providing a service to supplier while taking the benefit of a discount by facilitating an increase in the volume of sales of such supplier is ex facie erroneous and contrary to the fundamental tenets of GST law: HCIsrael claims 900 militants killed in Rafah since May monthGST - Order expressly records that personal hearing notice was returned with endorsement 'no such person at address' - Since petitioner has shifted to a new premises, it is just and necessary to provide an opportunity to contest demand: HC116 die in stampede at UP ’Satsang’I-T- Application for revision of order dismissed in limine on grounds of delay; case remanded for re-consideration: HCWe are deepening economic ties with India, says US officialI-T- As per Section 119(2)(b), power to condone applications relate to claims for amount exceeding Rs 50 lakhs are to be considered by CBDT; however it is impermissible for CBDT to pass order on merits: HC8 Dutch engineers build world’s longest bicycle - 180 feet, 11 inchesI-T- Additions framed u/s 68 for unexplained income & u/s 69 for unexplained expenditure not tenable where complete transactional details are furnished & not doubted: HCRailways earns Rs 14798 Crore from Freight loading in June monthI-T- Delay in filing ITR is per se insufficient reason to estimate assessee's profit @15% on turnover, more so where audited financial report is filed in timely manner: ITATMoD inks MoU to set up testing facilities in Unmanned Aerial System in TN Defence Industrial CorridorI-T- For invoking section 69A, assessee should be found to be owner of any money, bullion, jewellery or other valuable article & which is not recorded in the books of account: ITATGovt proposes Guidelines for ethical approach to Coal MiningI-T- TDS credit can be allowed based on AIS, where details pertaining to TDS, advance tax & other payments are reflected in Form 26AS: ITATVaishnaw to inaugurate Global IndiaAI Summit 2024I-T- Lending money with the primary intention of earning interest can be considered a business activity, but nature and manner of lending, as well as the frequency, should be taken into account: ITAT
 
GST slabs may be reduced after tax collections become revenue-neutral plus: Jaitley

By TIOL News Service

FARIDABAD, OCT 02, 2017: THE Union Minister of Finance, Mr Arun Jaitley, yesterday said that as far as GST is concerned, there is space for improvement eventually once it becomes revenue neutral to think in terms of bigger reforms such as lesser slabs, but for that it has to become revenue neutral plus. The FM said that there are no grey areas in implementation of tax laws. He said that the taxes which are payable have to be paid and which are not payable, then the same are not to be paid. He asked the young IRS officers that in case of doubt, move straight. 

Mr Jaitley was delivering the Valedictory Address at the NACIN Founding Day and Passing-out Ceremony of the 67th Batch of IRS (C&CE) at NACIN in Faridabad yesterday.

The Finance Minister told the Officers that they will get the option of choosing the path of working with dignity, self-respect and honesty from the very beginning of their career. The peer group is the best to judge the performance of an officer, the Minister concluded. 

The 2015 batch of Indian Revenue Service (IRS,C&CE) which has passed-out from the Academy after completing their professional training consisted of 147 officer trainees including 32 women officers. These young officers will be at the helm of administering the GST, India’s biggest tax reform since Independence. 

During the passing-out ceremony, the Finance Minister awarded medals to the five officer trainees who have excelled in different areas of training for their exceptional achievement. Young officer Dr. Farah Zachariah was awarded with the Finance Minister’s gold medal for being the overall best officer trainee. 

Mr Jaitley also unveiled the NACIN Coffee Table Book and Year Book on the occasion. The Coffee Table Book traces the history of the Academy as well as of the Indian Revenue Service. The Finance Minister also felicitated four outstanding Faculty of NACIN for their contribution in the field of training and capacity building. During the ceremony, international capacity building partners of NACIN i.e. WCO, UNEP, UNODC, ADB and others were also felicitated by the Finance Minister. 

On this occasion, a Stall on NACIN’s contribution to GST Outreach & Training was also inaugurated by the Finance Minister, Shri Arun Jaitley. The Chief Guest and other dignitaries also walked down an Exhibit showcasing the past, present and future of the Academy, aptly titled “NACIN Heritage Walk”. 

The event was attended among others by all senior officers of the Central Board of Customs and Central Excise (CBEC). 


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
India's Path to Becoming a Superpower: An Interview with Pratap Singh

TOP NEWS


AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST