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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Chennai, October 20, 2016
Smuggling - Gold is a prohibited item and AA can order absolute confiscation - Tribunal directing release of gold on payment of fine is against law: HC
 
Chennai, October 20, 2016
CX - Petitioner having opted to get their duty liability settled by CCESC cannot be permitted to dissect Settlement Commission's order with view to accept what is favourable to them and reject what is not: High Court
 
Chandigarh, October 20, 2016
I-T - Whether assessee can claim exemption u/s 54F where he failed to utilize sums for construction of residential house within 3 years of its sale - NO: HC
 
Ahmedabad, October 20, 2016
Cus - Smuggling of Rough Diamonds - Deposition by co-accused that they met appellant is proved to be factually incorrect as Passport entries establishes that appellant was out of Kenya on that day: CESTAT
 
New Delhi, October 19, 2016
I-T - Whether when partnership firm was dissolved as per the deed but was sold as a going concern, capital gains arising out of the bid price is to be treated as capital gains - YES: SC
 
New Delhi, October 19, 2016
PC Act - Prosecution of IRS Officer: sanction to prosecute cannot be held invalid only for reason that in administrative notings different authorities have opined differently before competent authority took decision in matter: SC
 
New Delhi, October 19, 2016
Karnataka Sales Tax Act - Whether cutting and polishing granite amounts to manufacture to attract tax - matter remanded: SC
 
Ahmedabad, October 19, 2016
I-T - Whether when purpose of amendment is to reduce hardships of taxpayers, amendment in Sec 50C introduced with prospective effect from April 1, 2017 can also be given retro effect - YES: ITAT
 
Mumbai, October 19, 2016
CX - As per notfn. 3/2001-CX, 6/2002-CE, value of chassis needs to be excluded and if it is so, there cannot be any demand on amount received by appellant for modification/replacement of leaf springs before fabricating body on said chassis: CESTAT
 
Mumbai, October 19, 2016
ST - Enhancement of height of storage facility 'ash bund' is construction/civil work - Revenue appears to have confused same for site formation and excavation: CESTAT
 
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