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
 
Page 143
New Delhi, December 08, 2017
I- T - Deposit made by subscriber of Inter Corporate Deposit, issued by company on fixed rate of interest, cannot be treated as loan: ITAT
 
Mumbai, December 08, 2017
ST - Once demand of wrongly availed cenvat credit is proposed, there cannot be another demand for recovery of service tax which was discharged by utilizing so-called wrongly availed credit: CESTAT
 
Mumbai, December 08, 2017
CX - Appellant taking credit on Readymade Garments and after making changes in MRP and putting labels clearing same on payment of duty - credit cannot be denied in view of rule 16 of CER, 2002: CESTAT
 
New Delhi, December 07, 2017
I-T - Any protective addition in hands of shareholder is not apt, if substantive addition was already made in hands of overseas companies treating them as residents in India: ITAT
 
Mumbai, December 07, 2017
When assessment by Addl CIT as AO in absence of valid order u/s 120(4)(b) is quashed on legal issue, Tribunal's comment on invocation of powers u/s 263 is not necessary: ITAT
 
Chennai, December 07, 2017
CX - Dismissal of appeal on sole ground that adjudication of lis involving minor demand would not be productive is failure to exercise jurisdiction: HC
 
Mumbai, December 07, 2017
Cus - SCN pending adjudication - 14 years since importer paid duty under protest and they are running from pillar to post for refund - contempt proceedings against Commr: CESTAT
 
Indore, December 06, 2017
MPVAT - 'Brake fluid' cannot be classified as ‘Lubricant’ - chargeable under residuary entry of Commercial Tax Act: HC
 
Allahabad, December 06, 2017
CX - Only when inputs are used in manufacture of final products and some of those inputs become waste during course of manufacture of final product, credit already taken in respect of such inputs wasted is not to be denied: HC
 
Jaipur, December 06, 2017
I-T - Relinquishment of right to sue is 'capital asset' and hence, not taxable: HC
 
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