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, December 25, 2015
CBDT pays Rs 43000 Cr interest on refund in six years; It is violative of Constitutional provisions: CAG Report
 
Ahmedabad, December 24, 2015
Imported goods procured from local dealers by SEZ - Rebate under Rule 18 of CE Rules is not admissible - No error in rejection of rebate by Revenue: HC
 
New Delhi, December 24, 2015
I-T - Whether amendment made in Sec 153C whereby words 'pertain to' and 'relate to' have been inserted by Finance Act, 2015 has prospective effect w.e.f 1-6-2015 - YES: ITAT
 
Ahmedabad, December 24, 2015
Denial of Cross examination of Chief Chemist - There is clear breach of principles of natural justice – Impugned order set aside and matter remanded – Petition maintainable under Article 226 despite alternative remedy: HC
 
Bangalore, December 23, 2015
Manufacturer cum Service provider - Composition under Works Contract cannot be denied on ground that assessee availed CENVAT credit on inputs used for manufacture of goods which are in turn used in execution of Works Contract - CESTAT
 
New Delhi, December 23, 2015
Cus - In appeals filed by Revenue in 2007, Custom officers were not impleaded - Revenue's applications in 2012 for impleadment of officers as necessary parties tantamount to filing of fresh appeals - such inordinate delay cannot be condoned: CESTAT
 
New Delhi, December 23, 2015
I-T - Whether when assessee fails to explain use of cash disclosed for intervening period, such assessee is to be denied benefit of surrender made during search - YES: ITAT
 
Mumbai, December 23, 2015
CX - SSI exemption - Brand name - If Revenue wanted to deny exemption on ground that brand name is of another person, they must prove case & respondent cannot be asked to prove that brand name does not belong to any other person: CESTAT
 
New Delhi, December 22, 2015
I-T - Whether compensation received on termination of JV agreement can be said to be in nature of capital receipt, where pursuant to termination, assessee’s income earning apparatus was impaired and its source of income got sterilised - YES: HC
 
Mumbai, December 22, 2015
ST - Advance not received towards taxable service - it is customer's obligation as his part of commitment between two parties to honour contract - If tax were also to be demanded separately on advance received, it would be double taxation: CESTAT
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.