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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Ahmedabad, August 11, 2016
Income Tax - Whether an assessee can be penalised for concealment, on ground that assessee has withdrawn its claim for bad debts subsequent to filing of return, upon noticing that debt amount is recoverable - NO: HC
 
Chennai, August 11, 2016
Customs - Alleged misuse of Advance Licence scheme - Challenge to Show Cause Notice for Rs 399 crores issued by Commissioner of Customs, Tuticorin fails - HC dismisses Writ Petitions
 
New Delhi, August 10, 2016
Govt moves Bill in Lok Sabha to fine-tune certain provisions of Income Tax & acquire power to raise Customs duty on marble & granite up to WTO bound rate of 40%
 
New Delhi, August 10, 2016
CX - Even after crushing, coal will not lose its character nor will it be new product - activity of crushing is not manufacture u/s 2(f) of CEA, 1944: ARA
 
New Delhi, August 10, 2016
CX - Character, usage and identity of Nucleus Device on 'loading of software' remains same - original commodity will not cease to exist - activity not manufacture under CE law: AAR
 
New Delhi, August 10, 2016
I-T - Whether income from licence fee can be construed as income from house property in reassessment proceedings where assessee had declared same as business income and assessment order u/s 143(3) was passed accepting the same - NO: HC
 
Mumbai, August 10, 2016
ST - Notification 27/2012-CE(NT) - Last date of quarter in which FIRCs were issued should be relevant date for computing period within which refund should be sought: CESTAT
 
Mumbai, August 10, 2016
CX - In view of Explanation 1 to rule 6(3) of CCR, 2004, once assessee pays proportionate credit u/r 6(3)(ii), they cannot later seek change in this option of paying 5%/10% u/r 6 (3)(i) of CCR, 2004 and consequently seek a refund: CESTAT
 
New Delhi, August 09, 2016
Cus - Used and old tyres cut into two-three pieces to produce 'crumb rubber' - whether activity 'manufacture' u/s 2(f) of CEA, 1944 for purpose of leviability of CVD - Matter referred to LB: High Court
 
New Delhi, August 09, 2016
VAT - Careless action of VATO, unmindful of law, places an interest burden of Rs. 56 lakhs on exchequer - disciplinary action initiated - urgent need for imparting orientation to officers: High Court
 
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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.