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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Mumbai, November 15, 2016
Cus - It is undisputed that documents on basis of which benefit has been claimed existed prior to assessment - In these circumstances S.149 of CA is clearly applicable: CESTAT
 
New Delhi, November 14, 2016
Demonetisation - Cash crunch - PM reviews supply of currency - takes host of measures to ease hardships  
 
Kolkata, November 14, 2016
I-T - Whether assessee in receipt of a certificate u/s 197(1) of I-T Act, can be burdened with TDS obligation - NO: ITAT
 
Allahabad, November 14, 2016
U.P VAT Act - Whether any addition can be made to turnover on basis of receipts from repairing job, in absence of any inquiry regarding genuineness of such job - NO: HC
 
New Delhi, November 13, 2016
North Block reviews distribution of new currency notes; claims Rs 3 lakh crore of demonetised notes deposited till today 
 
New Delhi, November 13, 2016
12% currency-GDP ratio slows down flow of money in economy; fair proportion of Rs 14 lakh crore high value currency not to return to banking system: CII 
 
New Delhi, November 13, 2016
Cus - Finding of fact recorded by statutory authorities regarding failure of appellant to furnish documents to establish fulfillment of export obligation warrants no interference: HC
 
Kolkata, November 12, 2016
I-T - Whether assessee is entitled to claim depreciation on machinery used for even trial purposes - YES: ITAT
 
Mumbai, November 12, 2016
Cus - Imports made from two different ports but consignments put together comprises of one second hand machine - no licence is required for clearance of such goods: CESTAT
 
New Delhi, November 11, 2016
Nine-Member Bench of Supreme Court upholds levy of Entry Tax 
 
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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.