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 270
New Delhi, October 31, 2016
UP Trade Tax Act - Raw materials purchased at concessional rate to manufacture goods, which were stock transferred - No violation - consistency and certainty in tax matters is necessary: SC
 
Mumbai, October 31, 2016
I-T - Whether CIT(A) though having co-terminus power with that of AO, can independently initiate penalty proceedings on new ground in case of quantum proceedings - NO: HC
 
New Delhi, October 31, 2016
CENVAT Credit of CVD availed on imported capital goods Re-exported without payment of duty Demand of CENVAT Credit is not justified: CESTAT
 
Mumbai, October 30, 2016
ST - 84 days delay in filing appeal due to ill-health of father condoned subject to payment of cost of rupees ten thousand to Principal CST: CESTAT
 
New Delhi, October 29, 2016
Orissa Sales Tax - Surcharge under OST is payable on Gross amount of sales tax without deducting amount of entry tax: SC
 
Ahmedabad, October 29, 2016
Sales Tax - Whether constitutionality of insertion of new provision can be challenged on ground that cut off date excludes certain class of persons from fold of statutory provisions, when such exclusion is not arbitrary - NO: HC
 
Allahabad, October 28, 2016
VAT - Whether power to seize goods is not dependent upon bona fides of past transaction, but must be exercised in backdrop of seized goods falling within mischief of Sec 48 - Yes: HC
 
Ahmedabad, October 28, 2016
Cus - For two months, importer cleared goods by availing benefit of notfn 73 / 2005 & only when probe commenced against other importers they discharged differential duty - Penalty upheld: CESTAT
 
Ahmedabad, October 28, 2016
CX - Once amount payable under CCR is treated as duty of excise, inputs & capital goods removed without payment of duty shall be liable to confiscation u/r 25(1) of CER, 2002: CESTAT
 
New Delhi, October 27, 2016
I-T - Whether transfer of assessment file from jurisdiction of one AO to another is valid even if there is no agreement between two jurisdictions - NO: SC
 
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