News Update

Govt orders mandatory declaration of stock position of wheatCPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCGovt issues advisory against calls impersonating DoTFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCECI's C-Vigil app a big hit with votersGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Mumbai, June 28, 2016
ST - Renting of Immovable Property - Property tax proportionate to period for which abatement is claimed shall be excluded while computing gross amount charged for purpose of levy of service tax as per notfn. 24/2007 – No excess abatement availed : CESTAT
 
Kolkata, June 28, 2016
I-T - Whether when assessee, an amalgamating company, itself chose not to inform Revenue about amalgamation sanctioned by High Court and preferred to file return in its own capacity, assessment order passed by AO can still be held as nullity - NO: HC
 
Mumbai, June 28, 2016
CX - CENVAT - For purpose of taking credit in respect of goods supplied by 100% EOU, BCD which is leviable in case of import of goods shall apply and not actual rate which is applied & paid - Appeal allowed: CESTAT
 
Mumbai, June 27, 2016
CX - Confirmation of amount of 8% of value of exempted goods is not akin to any duty which is short levied or short paid - in absence of recovery mechanism during impugned period, imposition of penalty is incorrect: CESTAT
 
Hyderabad, June 27, 2016
Services provided in Jammu & Kashmir are not exempted Services - Provisions of Rule 6 of CENVAT Credit Rules are not applicable: CESTAT
 
Ahmedabad, June 27, 2016
I-T - Whether initiation of reopening on basis of accommodation entries found during course of search is legally valid - YES: HC
 
Ahmedabad, June 27, 2016
Customs - Refund - Unjust enrichment is applicable even for refund of amount recovered by way of encashment of Bank Guarantee: HC
 
New Delhi, June 26, 2016
PM urges taxpayers to avail black money amnesty scheme or face action post-Sept 30 deadline
 
New Delhi, June 26, 2016
FSSAI joins hands with CHIFSS to enhance Food Safety standards
 
New Delhi, June 25, 2016
CBI books NINE senior Income Tax officials in corruption case; seizes 43 property documents & 22 lakh cash; finds FDRs worth Rs 78 lakhs
 
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