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, April 03, 2016
NDPS - Stringent punishment, stricter proof - Prosecution has failed to establish commission of offence by respondent and beyond reasonable doubt - evidence is scanty - order of trial court cannot be faulted: High Court
 
New Delhi, April 03, 2016
PM to launch 'Stand up India Scheme' tomorrow; Loans up to Rs 100 lakhs to be given to SC, ST & women
 
Paris, April 03, 2016
Tax to GDP ratios rising in African economies; Tunisia tops the chart with 31.3%: OECD
 
New Delhi, April 02, 2016
India is now 6th largest manufacturer in world; China & USA continue to hold top two ranks: UNIDO Report
 
Mumbai, April 02, 2016
ST - Informant seeking balance reward - writ jurisdiction is not remedy - petitioner has an alternate and equally efficacious remedy of bringing in civil suit in competent Civil Court: High Court
 
Ahmedabad, April 02, 2016
CX - Authorities of recipient of input/input service credit are not competent to adjudicate ISD invoice but it is jurisdictional officer of Input Service Distributor - Matter remanded: CESTAT
 
Mumbai, April 01, 2016
CX - Officers should inculcate in them a habit of following and implementing binding Division Bench judgments - If they are reluctant, Court would visit them with individual penalties, including forfeiture of their salaries until they take a corrective action: HC
 
New Delhi, April 01, 2016
Cus - In absence of any provision in Customs Act that permits 'detention' of goods, Court has to proceed on basis that what was effected was a 'seizure' of Nepalese currency - since no SCN was given within six months, inevitable consequence is that seized goods shall be returned: HC
 
New Delhi, April 01, 2016
I-T - Whether if assessee was having sufficient non-interest bearing funds contributed by shareholders and immediate source of loan to Director was sale proceeds of industrial plot, there can be any nexus between borrowings and advances made to Director - NO: ITAT
 
Mumbai, April 01, 2016
CX - Dispute involved is of an amount less than Rs 10 lakhs while EA-3 Form wrongly mentioned same as Rs.99,41,351 - in view of new litigation policy dated 17.12.2015 revising monetary limits for filing appeal, Revenue's appeal dismissed: CESTAT
 
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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.