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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Ahmedabad, August 10, 2015
Matter heard by Member (J), decision delivered by Member (T) - Order set aside and matter remanded with direction to hear and decide issue only by one person, either by Member(T) or Member(J): HC
 
Mumbai, August 10, 2015
ST - Consultant pocketing money meant for tax - FIR proceedings against Consultant shows that it is not appellant who has committed offence, therefore, there is reasonable cause for waiver of penalty: CESTAT
 
Mumbai, August 09, 2015
ST - Designated authority not issuing acknowledgement of discharge in form VCES-3 - SCN issued demanding ST for period July 2012 to August 2013 - merely because the SCN is going to be adjudicated by a distinct authority does not mean that the petitioner is prevented from canvassing appropriate pleas: HC
 
Paris, August 09, 2015
OECD releases guidelines to implement global standard on automatic exchange of information
 
New Delhi, August 08, 2015
I-T - Whether wheeling charges paid on transfer of electricity under bulk power transmission pact without any distribution licence are to be treated as fees for technical services - NO: HC
 
Mumbai, August 08, 2015
ST - Service tax law nowhere states that if two distinct activities are undertaken or provided in single agreement, they should be taxed under same service category - Appeal allowed: CESTAT
 
New Delhi, August 07, 2015
Central Excise - Valuation - Cost of returnable gunny bags used for packing excisable goods - whether there was an agreement to return packing material - Difference of opinion in Supreme Court Bench
 
New Delhi, August 07, 2015
Central Excise - Default in fortnightly payment of duty - debit from Modvat Account is permissible: Supreme Court
 
Mumbai, August 07, 2015
ST - Bank taking over borrower's factory for loan default & leasing to appellant - on rent, ST paid in name of borrower & appellant taking credit - same denied on ground that Bank should have paid ST - Bank is only deemed owner - prima facie credit admissible: CESTAT
 
Mumbai, August 07, 2015
Income tax - Whether interest income earned by assessee-developer through housing finance activities is to be treated as income from other sources u/s 56 and not business 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.