News Update

CBIC amends tariff value of silver; No change for other commoditiesHigh Level Official Delegation from Mauritius visits National Centre for Good GovernanceGovt hikes Minimum Wages vide enhanced VDA for unorganised workersTRAI mandates whitelisted URLs, APKS, or OTT links for SMS TrafficGST - Rule 86A is not a machinery provision for recovery of tax - Order can be passed only if ITC is available in the taxpayer's ECL - No negative blocking: HCFrance backs India’s membership to Security CouncilGST - No opportunity of personal hearing as was requested while replying to SCN was given - Order set aside: HCJaishankar calls for reforms of WTO, G20 & UNGST - Goods were purchased from SAIL by a third party who sold to petitioner and who subsequently re-sold to consignee - No justification for detention on ground that correct documents were not travelling with truck: HCFamily of 5 found dead in car in TN; Suicide suspectedAlternative Global Value Chain - Is India going to be 'Next China'!IMF okays USD 7 bn loan to support Pak’s sinking economyCus - Unreasoned order - Order spoke for itself - Revenue counsel tries his best to justify order but in the end had to throw in the towel: HCBombay HC quashes govt clearance given after construction in Coastal areaPrevent misuse of s.114AA of Customs ActBrazil keen to ink trade deal with EUGST - Existence or otherwise of principal place of business - A taxpayer's registration cannot be cancelled solely on the basis of some general queries/enquiries from random persons, of which there is no record: HCHarris promises tax credit and investments to US manufacturersCBIC notifies HAG benefits to 22 IRS officersNukes may deflect asteroid threatening earth: ScientistsAfter Iranian death threat, Trump says Iran should be torn into piecesIndia, Australia working to strengthen ECTA through CECA: GoyalUS Intel suggests Russia has secret war drones factory in ChinaSurvey reveals 31% Indians now use e-com platforms for ordering groceryIndia's coal imports see marginal increase amid surge in Power Generation
 
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Bangalore, January 20, 2018
VAT - ITC is a substantive right and it cannot be denied merely on basis of some machinery provisions or flimsy technical error or even on ground of limitation: HC
 
New Delhi, January 19, 2018
I-T - Discretionary waiver of interest charged u/s 234A to 234C by Settlement Commission, will not negate corresponding right for refund of interest to assessee: SC
 
Mumbai, January 19, 2018
CX - Claim of assessee that as soon as they paid tax, same became credit in their account is misplaced - Law as it existed at time of taking credit would be applicable: CESTAT
 
Mumbai, January 19, 2018
I-T - Finance cost incurred on overdraft obtained from bank, which is advanced to sister concern for no business purpose, is not allowable business loss: ITAT
 
Mumbai, January 19, 2018
CX - If insurance cover in respect of which credit has been claimed is exclusively in respect of injuries or damages to factory employee, then credit would be admissible: CESTAT
 
New Delhi, January 18, 2018
ST - Petitioner cannot challenge one part of order-in-original before High Court and another portion before CESTAT: HC
 
New Delhi, January 18, 2018
I-T - Fees charged by trade regulatory body for registration of domain names are not taxable as 'commercial receipts': HC
 
Mumbai, January 18, 2018
CX - CENVAT credit is admissible to extent insurance cover relates to employees for whom it is mandatory to provide such cover: CESTAT
 
Mumbai, January 18, 2018
I-T - Fees paid by cellular companies for acquring 3G band license, if capitalized as 'intangible asset', will be eligible for depreciation: ITAT
 
Mumbai, January 17, 2018
I-T - When court finds that assessee has not truly disclosed all facts in case & now wants to withdraw soiled petition, liberty to file fresh petition can only be granted if Revenue is compensated for suffering costs on account of assessee's mistake - YES: HC
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.