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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Kolkata, May 12, 2016
Cus - When a provision provides for punishment it has to be strictly construed - expression 'goods in respect of which any prohibition is in force' in context of Se 112 would imply goods which are prohibited & not goods which have been smuggled into country: HC
 
New Delhi, May 12, 2016
ST - Leasing of Vehicles - Deemed Sale - VAT paid - Is Service Tax payable? Delhi High Court stays Adjudication Order of Mumbai ST Commissioner
 
Bangalore, May 12, 2016
I-T - Whether Sec 153C notice for initiating block assessment of third party mandates satisfaction of AO having jurisdiction over searched persons & communication of same to AO to be recorded in writing along with incriminating materials - YES: HC
 
Jaipur, May 12, 2016
CX - objection by department that credit from one unit was utilized for purpose of duty liability of other unit without pro rata distribution by Input service distributor would not survive in view of no previous restriction in rule 7 of CCR, 2004: HC
 
New Delhi, May 12, 2016
ST - Incidental receipt of incentives or volume discounts from Media Owner shall not be considered as providing service to Media Owner so as to be liable to service tax: ARA
 
New Delhi, May 11, 2016
Amitabh Bachchan loses income tax case; Supreme Court upholds invocation of powers u/s 263 in a case where AO failed to verify source of expenses, later withdrawn by assessee in re-revised return
 
New Delhi, May 11, 2016
ST - Rolling Stocks are plant as well as machinery and are to be brought into operation by applicant, meaning 'commissioning' - applicant satisfies condition of providing services by way of commissioning of original work - since said services are pertaining to metro, exemption available under notfn. 25/2012-ST: AAR
 
New Delhi, May 11, 2016
Service Tax - Construction Company partnering with education society to provide secondary education - service provided by the applicant (a person) to "partnering person" (another person) for consideration will be a service - AAR
 
Mumbai, May 11, 2016
ST - Freezing of bank accounts - In invoices raised, price charged included component of ST which was recovered - it is not that there is an uncrystallised or unascertained dues - a/c released temporarily for making deposit of Rs 5 Cr: HC
 
Mumbai, May 11, 2016
I-T - Whether rent paid by an entity to its directors for leasing out land for agricultural operations is liable to be disallowed u/s 14A, if it is directly attributable to earning of agricultural income - YES: ITAT
 
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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.