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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Mumbai, November 23, 2018
I-T - Renting out part of house for installation of mobile tower is akin to letting out house property itself: ITAT
 
Mumbai, November 23, 2018
ST - VCES, 2013 - S.111 of FA, 2013 does not bar initiation of the proceedings u/s 73 of the FA, 1994 vis-à-vis service tax short paid or not paid-Appeal dismissed: CESTAT
 
Mumbai, November 22, 2018
ST - Actual consideration for CC/OD services is only higher interest rate and nothing else - since exemption is granted in r/o interest charged, services are to be treated as exempted and attract rule 6 of CCR, 2004: CESTAT
 
Mumbai, November 22, 2018
I-T - High remuneration paid to Directors cannot be construed as a tool to shift profits to evade tax if same is offered to tax through personal returns: ITAT
 
Chennai, November 21, 2018
I-T - Department should wait for disposal of appeal & stay petition, before initiating recovery proceedings: HC
 
New Delhi, November 21, 2018
ST - When value has been fixed as per Rule 6(7) of STR, 1994, can Incentive be subjected to service tax as 'Commission' under BAS - matter referred to LB: CESTAT
 
New Delhi, November 21, 2018
I-T - Section 80IC benefit cannot be denied if revised return is filed within stipulated period as per Sec 139(5): ITAT
 
New Delhi, November 20, 2018
I-T - Rental income arising after purchase of already let out warehouse is to be taxed as income from house property and not as business income, even if assessee is engaged in business of warehousing: ITAT
 
Chennai, November 20, 2018
Cus - ADD - Even in absence of time limit fixed, a review undertaken u/r 22 is required to be completed on an accelerated basis i.e. definitely before time period prescribed in Rule 17 or 23: HC
 
Chennai, November 19, 2018
I-T - Loss arising from foreign exchange fluctuation is not unascertained liability and need not be added back to the book profit u/s 115JA: HC
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.