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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New Delhi, July 31, 2016
Railways sitting over pile of 52401 hectares land bank; recovers 94 hectares encroached land in last three years
 
New Delhi, July 30, 2016
Income Tax - Protest by IRS officers - Association meets Finance Minister; Issues to be 'suitably addressed', says Jaitley
 
New Delhi, July 30, 2016
Sovereign Gold Bond Scheme - Govt mops up Rs 919 Crore in 4th tranche  
 
Hyderabad, July 30, 2016
Settlement Commission - Explanation to Sec 32(O)(1) of CE Act cannot be applied retrospectively - Settlement Commission has erred in rejecting application u/s 32(O)(1) - Matter remanded: HC
 
New Delhi, July 29, 2016
CX - Legislature can enact laws to operate retrospectively and enforce an earlier invalid legislation - Rule 57F(4A) of CER, 1944 providing lapsing of credit was limb of rationalization & is not irrational: High Court
 
New Delhi, July 29, 2016
CX - In view of retroamendment by FA, 2003 withdrawing benefit of area-based exemption and dept. initiating recovery proceedings, very basis of rejection of rebate claim that M/s NETCL had not actually paid any duty ceased to exist: HC
 
Hyderabad, July 29, 2016
Refund of Service Tax consequent to Sec 11C Notification 45/2010 - When eligibility of Notification itself is in dispute, limitation of six months u/s 11C is not applicable - Refund in such cases is governed by Sec 11B: CESTAT
 
New Delhi, July 29, 2016
I-T - Whether payment of interest to FIs by way of debentures amounts to 'actual payment' for purpose of deduction u/s 43B - NO: HC
 
Mumbai, July 29, 2016
Cus - Inordinate delay in processing actions under CBLR, 2013 - Nefarious Customs brokers, who ought to be punished, get benefit of lapses committed on account of delays and which is bad for system: CESTAT
 
New Delhi, July 28, 2016
Cus - Petitioner cannot be saddled with warehouse charges as detention has happened due to illegal action of DRI: 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.