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, June 17, 2016
CENVAT Credit of Service Tax on insurance premium for health insurance of factory employees is admissible even after amendment to Rule 2(l): CESTAT
 
Pune, June 17, 2016
I-T - Whether when there is no business activity during year, it is justified if assessee company pays rent for residence of Director particularly when it is paid to wife of Director who is specified person u/s.40A(2)(b) - NO: ITAT
 
Chandigarh, June 17, 2016
CX - CESTAT is right in holding that as per third proviso to s.35C (2A) of CEA, 1944, it has got power to grant extension of stay beyond 365 days from initial order of stay : High Court
 
Mumbai, June 16, 2016
CX - Refund - Accounting treatment such as not showing amount receivable in 2007-08 but showing same in 2008-09 is acceptable under I-T Act, therefore, Revenue could not have questioned same - claim not hit by unjust enrichment: CESTAT
 
Chennai, June 16, 2016
Customs - Exemption from CVD under Notification No 30/2004-CE is not admissible to fabrics of silk imported as exemption is conditional - Revenue's appeal against CESTAT order allowed: High Court
 
Kolkata, June 16, 2016
Cus - Kolkata, CFL has certified that betel nuts are fit for human consumption, Customs authorities should have no further reservation in releasing consignment: HC
 
New Delhi, June 16, 2016
I-T - Whether if assessee could not explain fall in gross profit on distress sale made to its sister concern, AO has authority to make addition on such account - YES: ITAT
 
Mumbai, June 16, 2016
CX - Appellant have been submitting cenvatable invoices to Jurisdictional authorities, therefore, entire detail of Cenvat Credit & nature of services were available with department - suppression cannot be alleged: CESTAT
 
New Delhi, June 15, 2016
Cabinet approves Integrated Civil Aviation Policy; Cargo volumes projected to go up four times to 10 mn tonnes; huge incentives for MRO Sector & domestic fare capped at Rs 2500 per hour
 
New Delhi, June 15, 2016
India, Switzerland join hands for early implementation of Automatic Exchange of Information; Revenue Secretary welcomes Swiss decision to amend law to share info on stolen data obtained by India
 
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