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 17, 2016
CII Business Confidence index grows to 57.2; Profit expectations improve in Q1
 
Mumbai, July 17, 2016
ST - As issue is revenue neutral and concerns interpretation, no motives can be alleged so as to invoke extended period of limitation - interest and penalty set aside & appeal allowed: CESTAT
 
Mumbai, July 16, 2016
When Customs could detect mis-declaration simply by examining weight of consignment with respect to declaration made, it could have been possible for Courier Agency exercising 'due diligence' to detect same - penalty upheld: CESTAT
 
New Delhi, July 16, 2016
All India Radio completes work of FMisation entire Vividh Bharati, Minister tells House Panel
 
Mumbai, July 15, 2016
CX - Supplies made to SEZ are treated at par with physical exports made out of India and all benefits and incentives are available even before issue of Notfn. 50/2008-CE(NT): CESTAT
 
New Delhi, July 15, 2016
ST - There is no provision in VCES, 2013 which permits correction of errors arising on account of application of incorrect rate of tax - request to apply de minimis principle rejected - Petition dismissed: HC
 
Kolkata, July 15, 2016
I-T - Whether when benefit receivable u/s 80HHC is not regulated by benefit received or receivable u/s 80HHD, assessee can still be prevented from claiming deductions under both beneficial Sections simultaneously - NO: HC
 
Chennai, July 15, 2016
Condonation of delay beyond condonable period before Commissioner (A) - High Court cannot condone delay and direct appellate authority to consider matter on merits – Writ Appeal dismissed : High Court
 
New Delhi, July 14, 2016
IDS is an opportunity for taxpayers to clean up books, says FM 
 
Chandigarh, July 14, 2016
Cus - It is trite that beneficial schemes are interpreted so as to extend availability of benefit thereof rather than accorded any restrictive interpretation which would render schemes worthless: HC
 
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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.