News Update

Govt orders mandatory declaration of stock position of wheatCPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCGovt issues advisory against calls impersonating DoTFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCECI's C-Vigil app a big hit with votersGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Mumbai, March 27, 2018
CX - Notif. 21/2014-CX(NT) prohibiting manufacturer from taking CENVAT credit after six months from date of issue of invoice does not apply to invoices issued prior to date of notification: CESTAT
 
Mumbai, March 27, 2018
There is no stipulation u/r 10 of CCR, 2004 that assessee can transfer credit only to extent that corresponds to quantum of inputs available with them: CESTAT
 
Kolkata, March 27, 2018
I-T - Unintentional default does not merit levy of penalty if such default is admitted and sum is offered to tax during assessment proceedings: ITAT
 
Mumbai, March 27, 2018
ST - Discharge certificate in form VCES-3 is a proper document to avail CENVAT credit: CESTAT
 
Hyderabad, March 26, 2018
ST - Court, on basis of undertaking by party, cannot convert itself into executing Court to execute terms agreed by party, while deciding bail application: HC
 
Chennai, March 26, 2018
ST - Using software developed & owned by Verisign and generating DSC (Digital Signature Certificate) and SSLC (Secured Socket Layer Certification) is not taxable under IT service: CESTAT
 
Chandigarh, March 26, 2018
CX - Explanation inserted in s.32O(1)(i) of CEA, 1944 is clarificatory as evidenced from Statement of Objects and Reasons and, therefore, has retrospective effect: HC
 
New Delhi, March 26, 2018
I-T - If assessee, a housewife, makes short-term investments in shares and makes huge profits, such income is to be treated as business income and not STCG as assessee maintains no books: ITAT
 
Bangalore, March 26, 2018
CX - Shifting of factory - Removal of used capital goods and availment of CENVAT credit - Rule 3(6) of CCR, 2004 applies and not rule 4(2): CESTAT
 
Nainital, March 24, 2018
I-T - Supply of vehicles by Carrier to Petroleum Company as per operational convenience of latter is not hiring of vehicles & therefore not covered u/s 194-I: HC
 
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