News Update

I-T- Denial of deduction u/s 80IC can create perception of genuine hardship, where claimant paid tax in excess of what was due; order denying deduction merits re-consideration: HCIsrael launches missile attack on IranEC holds Video-Conference with over 250 Observers of Phase 2 pollsGermany disfavours Brazil’s proposal to tax super-richI-T- If material found during search are not incriminating in nature AO can not made any addition u/s 153A in respect of unabated assessment: ITATGovt appoints Dinesh Tripathi as New Navy ChiefAFMS, IIT Kanpur to develop tech to address health problems of soldiersFBI sirens against Chinese hackers eyeing US infrastructureI-T - Interest earned on short term deposit out of borrowed funds during period prior to commencement of business, is totally foreign to business objects of assessee, and not eligible for set off: ITATKenya’s top military commanders perish in copter crashCBIC notifies Customs exchange rates w.e.f. April 19, 2024Meta shares ‘Most Intelligent’ AI assistant built on Llama modelST - Service Tax paid in respect of export of services and cannot be subject to levy of Service Tax under Notfn 18/2009-ST, denial of exemption on procedural lapses cannot be sustained: CESTATDengue cases soaring in US - Close to ‘Emergency situation’: UN AgencyNexus between Election Manifesto and Budget 2024 in July!Half of China’s major cities sinking, reveals StudyCX - The warranty service is eligible for credit though the same is provided after clearance of final products: CESTAT
 
India moves WTO against USA for levy on steel & aluminium products

 

By TIOL News Service

GENEVA, MAY 24, 2018: INDIA has moved the WTO dispute consultations with the United States regarding US duties on certain imported steel and aluminium products. The request was circulated to WTO members on 23 May.

India claims the US duties of 25% and 10% on imports of steel and aluminium products respectively are inconsistent with provisions of the WTO's General Agreement on Tariffs and Trade (GATT) 1994 and of the Agreement on Safeguards.

The request for consultations formally initiates a dispute in the WTO. Consultations give the parties an opportunity to discuss the matter and to find a satisfactory solution without proceeding further with litigation. After 60 days, if consultations have failed to resolve the dispute, the complainant may request adjudication by a panel.


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.




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