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, July 23, 2015
Income tax - Whether an amount advanced for purchase of machinery but later being converted into guarantee is to be treated as revenue loss if deal fails to materialise - NO: ITAT
 
Mumbai, July 23, 2015
CX - That fraud is of great magnitude and that involvement or act is admitted does not mean that recovery of duty because of such fraud can be made at any time u/s 11A - Tribunal's order is ex-facie erroneous: HC
 
New Delhi, July 22, 2015
Central Excise - Paper - Exemption - Paper made out of pulp from rags entitled for concessional rate: Supreme Court
 
New Delhi, July 22, 2015
Cus - Classification - Risograph covered under sub-heading 84.43: Supreme Court
 
New Delhi, July 22, 2015
CX - AV - s.4 - Dealers request appellant to organize advertisement of products in their area and in such cases about 40% of expenses incurred on advertisement are recovered by appellant from dealers - no cause for adding this expense in AV: CESTAT
 
Mumbai, July 22, 2015
Income tax - Whether in absence of any plausible explanation, delay can be condoned mechanically merely because Govt or wing of Government is party before Court - NO: High Court
 
Mumbai, July 22, 2015
ST - Notfn. 12/2013 - Once SEZ unit secures approval of 'Approval Committee' and furnishes declaration in Form A-1 verified by Specified Officer of SEZ, jurisdictional DC/AC is enjoined with duty to issue authorization in Form A-2 - WP allowed: High Court
 
New Delhi, July 21, 2015
ST / CX - Review Order - Decision rendered by Committee is an administrative function and would, therefore, not require members of Committee to consult and give independent reasons - Tribunal has no jurisdiction whatsoever to strike down a decision taken by Committee: HC Larger Bench
 
New Delhi, July 21, 2015
Can Tribunal condone delay in order passed by Committee of Chief Commissioners
 
Mumbai, July 21, 2015
ST - Rule 7C of STR, 1994 - During period 04/2008 to 03/2011, for delayed submision of return, maximum penalty that could be imposed u/s 70 was Rs.2,000/- - Since one return has been filed in time, penalty is liable only on five returns of Rs.10,000/- - imposition of penalty of Rs.1,01,500/- not sustainable: CESTAT
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.