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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New Delhi, December 15, 2017
Income tax - Culmination of penalty proceedings cannot be faulted, for lack of absence of cross-examination: HC
 
Ahmedabad, December 15, 2017
Cost recovery charges - When application for exemption is being processed, contention that such exemption even if later on granted, would only be prospective, would be incongruent: HC
 
Mumbai, December 15, 2017
CX –Applicability of rate of duty, merely because it has reference to sale price, does not mandate condition of sale: CESTAT
 
New Delhi, December 14, 2017
Entertainment Tax - When a subsidy scheme was designed to promote capital intensive projects in State, such subsidy is necessarily capital in nature: SC
 
Mumbai, December 14, 2017
Rules 23 to 62 of Bombay Denatured Spirit Rules, 1959 are ultra vires and unconstitutional, hence struck down: High Court
 
Allahabad, December 14, 2017
I-T - Cheque which is subsequently cancelled & returned without encashment, will not constitute 'real payment' and hence will not attract notional provision of Sec 2(22)(e): HC
 
Mumbai, December 14, 2017
CX – Merely because assessees name is not appearing on certificate will not debar them from benefit of exemption notification 3/2004-CX: CESTAT
 
Jodhpur, December 13, 2017
I-T - Income from sale of agri land is to be taxed as business income if assessee's business as per MoA is to carry on sale and purchase of land: HC
 
Mumbai, December 13, 2017
Cus - Law is to be applied in its letter and spirit without any will and pleasure of authorities below: CESTAT
 
Mumbai, December 13, 2017
CX - Grounds made by revenue in appeal are superfluous, which is neither flowing from SCN nor from adjudication order: CESTAT
 
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TIOL Tube brings you an interview with former US Secretary of Treasury, Mr. Larry Summers who was recently in Delhi.

AR not Afar by SK Rahman



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