News Update

CPI 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: HCFATP 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and disproportionate on the part of the officer: HCGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST -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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Geneva, April 09, 2016
Global trade volume to be sluggish in 2016; WTO calls for rolling back of trade restrictive measures
 
Mumbai, April 09, 2016
CENVAT - Availment of credit without receipt of goods covered under invoices - Prices of HR trimmings are much higher compared to normal steel scrap & it does not make any economic sense for a manufacturer to use HR trimmings in coil form for purpose of melting - Credit rightly denied & penalties correctly imposed: CESTAT
 
New Delhi, April 08, 2016
CX - Appellant has not succeeded in establishing that an arrangement of return of gunny bags with obligation on part of seller to refund value thereof existed between parties - value of gunny bags includible in AV - Appeals dismissed: Supreme Court
 
New Delhi, April 08, 2016
ST VCES, 2013 - Date on which Petitioner deposited cheque for requisite amount in designated bank should be taken to be date of payment and not date on which cheque was encashed: High Court
 
Mumbai, April 08, 2016
ST - Exemption under Notification 13/2003 applies to all Business auxiliary services provided by a 'commission agent', and not merely to services of selling or purchasing goods on behalf of client - Appeal allowed: CESTAT
 
New Delhi, April 08, 2016
Advance Ruling - Service Tax - Foreign C&F Agent - Reverse Charge - Only expenditure or costs incurred by C&F Agent as a pure agent to be excluded: AAR
 
Mumbai, April 08, 2016
I-T - Whether foreign remittance received by a cricketer for rendering services as commentator which has a proximate link with cricket, can be denied Sec 80RR benefits, where such income has been derived in exercise of his profession as a 'sportsman' - NO: ITAT
 
Mumbai, April 08, 2016
CX - CENVAT denied on ground that ingots of thickness of more than 3 inches cannot be used for manufacture of MS Bars of 6mm - SCN relied solely on certificate of Technical Expert given upon inspection of rollers and dies at another Mill - same cannot be applied to appellant: CESTAT
 
Mumbai, April 07, 2016
ST - To reject claims, not on merit but by resort to bar of limitation, at end of protracted process reflects lack of accountability - it is a settled law that limitation should be computed with effect from date of original, albeit incomplete, filing of refund claim: CESTAT
 
Mumbai, April 07, 2016
CX - Appellants engaged in selling physician samples to distributors who were further distributing same free of cost - since there is a TV available at which goods are sold to distributors, & same has not been challenged, same should be AV u/s 4(1)(a): CESTAT
 
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