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World Bank approves USD 105M project to improve waterways in West BengalMadras High Court gets 10 additional judgesLucknow Municipal Corporation bonds list on BSECBDT prescribes detailed guidelines on taxpayers’ information security policy for field formationsCus - Article 226 is not meant to short-circuit or circumvent statutory procedures - Petition dismissed: HCCBDT grants NFSG benefits to 14 JCITsSVLDRS, 2019 - Final hearing held before 30.06.2019 - declarant ineligible to file declaration under litigation category but eligible under the arrears category since o-in-o not appealed against: HCSVLDRS, 2019 - A liberal view embedded with the principles of natural justice is called for while considering a declaration seeking amnesty: HCIRS officers posted as CVO - Vinay Kr Singh of 1997 batch to PEC Delhi + Manisha Saxena of 2000 batch to IREDAReason and OrderSale of Cinema Ticket - Recipient identified, therefore, profiteered amount of Rs.12/- along with interest to be paid from the Consumer Welfare Fund: NAAIndian Oil launches India's first 100 Octane petrolGST - Throughout the year we are having festive season sales, hence it cannot be said that sale prices are lowest in December - average sale price of December adopted by DGAP is not unjustified: NAAST - Writ Petition against an order passed by a Statutory Authority which was not appealed against within the maximum period of limitation before the Appellate Authority concerned cannot be entertained: HCAnti-ship version of BrahMos supersonic cruise missile successfully test-firedCus - Under-valuation of goods - Parallel invoices - demand raised, being computation of probable under-valuation, is sustained, where assessee disclosed only lesser invoice value: HCCX - CENVAT credit of sales commission paid to agent is allowed, where such agent is engaged in sales promotion of goods manufactured by assessee: CESTATDevelopment efforts of India, Sri Lanka 'synergistic' says SitharamanST - Commissioner has ignored the substance and has picked a part of the clause to suit his purpose - No service tax is applicable on permanent transfer of IP Rights by Foster's to appellant: CESTATDuty demand based on statements recorded from witness, while assessee was not permitted to cross examine such witness - case remanded for re-hearing: HCAssessment order is non est if passed in name of non-existent merged company, despite having knowledge of its merger: ITATNo addition for differences as undisclosed turnover can be made if entire transaction takes place through banking channel & bills of entry & invoices are available for verification: ITATPLI Schemes for bulk drugs, medical devices received very positively: GovtGST - CBIC notifies HSN Codes for a class of supply of 49 different types of chemicalsItaly to host G-20 Summit on Oct 30, 2021Anti-dumping duty on Methylene Chloride extended till Jan, 2021SC tosses out Chanda Kochhar’s petition questioning her removal from ICICI MD’s postGST collection crosses Rs 1 lakh crore in NovemberBoard of Trade meeting to discuss foreign trade policy, Atmanirbhar BharatJob Work - Redefined
 
COVID Effect - Devolution of taxes - States get Rs 51K Crore less so far

By TIOL News Servic

NEW DELHI, OCT 30, 2020: THE Government of India has received Rs. 5,65,417 crore (25.18% of  corresponding BE 2020-21 of Total Receipts) upto September, 2020 comprising Rs 4,58,508 crore Tax Revenue (Net to Centre), Rs. 92,274 crore of Non-Tax Revenue and Rs. 14,635 crore of Non-Debt Capital Receipts. Non-Debt Capital Receipts consists of Recovery of Loans (Rs. 8,854 crore) and Disinvestment proceeds (Rs. 5,781 crore).

Rs 2,59,941 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India upto this period which is Rs. 51,277 crore lower than the previous year.

Total Expenditure incurred by Government of India is Rs. 14,79,410 crore (48.63% of corresponding BE 2020-21), out of which Rs. 13,13,574 crore is on Revenue Account and Rs.165,836 crore is on Capital Account. Out of the Total Revenue Expenditure, Rs. 3,05,652 crore is on account of Interest Payments and Rs. 1,56,210 crore is on account of Major Subsidies.


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