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, July 20, 2016
I-T - Whether when assessee exporter is given incentive for exploring global market for expansion, such incentive is to be treated as revenue receipt - NO: ITAT
 
Mumbai, July 20, 2016
Cus - There is no valid legal ground for an individual to carry Indian currency out of country as these are not accepted for transactions anywhere in world - absolute confiscation cannot be faulted: CESTAT
 
Hyderabad, July 19, 2016
Tariff Value Notification No 36/2001 Cus (NT) comes into effect only on or after 06.08.2001 - Telangana & AP High Court follows judicial discipline and follows SC ruling as High Court cannot hold SC ruling as per incuriam
 
Ahmedabad, July 19, 2016
Drawback on exported goods cannot be denied on ground that raw materials were imported under other export incentive schemes like DEPB or MLFPS: HC
 
Ahmedabad, July 19, 2016
I-T - Whether assessee is entitled for release of amount with interest after adjustment of tax due from cash seized when there is no dispute as regards the title of seized cash - YES: HC
 
Ahmedabad, July 19, 2016
ST - Recovery notice u/s 87 to Service recipient seeking to recover tax from performance guarantee invoked - When there are no dues payable to Service providers, Sec 87 cannot be invoked: HC
 
New Delhi, July 18, 2016
Revamp of BCCI - Apex Court accepts all recommendations of Lodha Panel; ask's Law Commission & Govt to examine issue of legalising betting & bringing Board under purview of RTI Act 
 
Ahmedabad, July 18, 2016
I-T - Whether addition u/s 41(1) is valid when assessee has shown liabilities in books and creditors have also not given up their rights to recover such sums from assessee - NO: HC
 
Mumbai, July 18, 2016
Cus - Since corrigendum is part and parcel of impugned order, period for filing appeal should be reckoned from date of corrigendum - COD application allowed: CESTAT
 
Mumbai, July 18, 2016
CX - What difference it makes whether it is industrial fans or components - when fact remains that excess duty was paid why refund claim should not be given to appellant – Matter remanded: CESTAT
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.