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Suspension & Revocation of Customs Broker LicenseIranian President Ebrahim Raisi, foreign minister die in chopper crash in northwestern IranI-T - Escapement of income due to claim of deduction u/s 80-IB(10) was certainly a subject matter of appeal and admittedly so and on this income reassessment is not permissible : HCPatanjali staffers jailed after much-hyped ‘Soan Papdi’ fails food standardsFSSAI alerts Fruit Traders against use of Calcium Carbide in Fruit RipeningBlowback for Sunak mulling curbs on post-study visas for foreign studentsI-T - Additions framed u/s 68 on account of unexplained cash credit cannot be sustained where AO does not specify how such additions had been computed: ITATIranian President Raisi’s death confirmed in copter crashPoll-related seizures piling up close to Rs 9,000 croresI-T - Charitable organisation cannot be denied registration u/s 12AB solely on grounds that it is managed by one person, but where its activities are for the benefit of the entire society at large: ITATIndonesian volcano turns active; 7 villages evacuatedCitizens join big time with EC to check electoral malpracticesCongo Military claims it foiled serious bid of coup involving Americans and British menI-T - Material to be considered for invoking Search assessment should be seized in course of search u/s 132 of the Act on searched action or requisitioned u/s 132A: ITATNew Taiwanese President assumes office amid rising tensions from China889 candidates to contest elections in Phase 6I-T - Failure of AO in recording the satisfaction based on any material seized during the course of the search, vitiates search assessment proceeding: ITATECI seizures inches close to Rs 9000 Cr; 45% of seizures are drugsPMLA - If accused appears before Special Court pursuant to summons, he shall not be treated as if he is in custody and it is not necessary for him to apply for bail : SC (See 'TIOLCorplaws')Delhi logs 44.4 degrees temperature on SundayCus - Warehoused goods cleared for export & was bound for foreign-going vessel; Customs officers issued Let Export order; Department's allegation of goods being diverted not backed by evidence, hence unsustainable: CESTATAmnesty Scheme for exporters: Govt recovers Rs 852 CroreCustoms - CBIC prescribes undertaking from importers of lubrication oil for clearance of consignmentGas tanker blast in Pune; Hotels, houses guttedST - Dry Leasing - Agreement between assessee & party for leasing jet aircraft with possession solely at risk of lessee along with maintenance, is not Supply of Tangible Goods; transaction amounts to Deemed Sale under Article 366(29A) of Constitution & hence excluded from Service Tax levy: CESTATViolations of economic sanctions: Criminal penalties come into forceST - Commissionerate at Raipur lacks jurisdiction to issue SCN demanding tax for such service which was provided by assessee's unit in Delhi, where service in question is rendered outside jurisdiction of Raipur Commissionerate: CESTATBengaluru Customs nabs 4 pax with gold powder worth Rs 1.96 CroreST - No question of suppression of facts would arise where assessee regularly files returns & maintains proper books; extended limitation need not be invoked in these circumstances: CESTAT
 
GST - ITC refund peaks to Rs 5000 Cr & IGST refund to Rs 7700 Crore

By TIOL News Service

NEW DELHI, MARCH 29, 2018: THE Special Drive by CBEC field formations to disburse IGST refund to exporters has so far been moderately successful. Going by the latest figures, the tally of refund has touched Rs 2300 Crore. At the start of the refund, the total refund sanctioned was close to Rs 5400 Crore.

On the ITC refund front, the total figure sanctioned as on March 28, is about 640 Crore. At the launch of this drive the total ITC refund sanctioned stood at Rs 4400 Crore.

In her weekly letter to the field officials the CBEC Chairperson has called for smooth acclimatization to the new procedures of e-Way Bill coming into force from April 1, 2018. Further, she has advised that the officers themselves are attuned to the nuances of the new compliance ecosystem. The CBEC has appointed Nodal officers for various zones and they have been provided with access to the e-way bill module and the user manual therein which will come handy while resolving any issues that trade and industry might bring forward during implementation of the e-way bill.

 


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