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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Jaipur, October 10, 2018
I-T - TDS liability does not arise at time of vesting of ESOP with employees but only when employees exercise option and shares are allotted to them: ITAT
 
New Delhi, October 09, 2018
GST - Anti-profiteering - Respondent has no liberty to arbitrarily decide in respect of which products he would pass on benefit: NAA
 
Chennai, October 09, 2018
I-T - Reasons for reassessment u/s 147 may also include AO's own omission or default, however, same must be completed before expiry of period of limitation of 4 years: HC
 
Mumbai, October 09, 2018
I-T - If assessee is substantial shareholder, holding more than 10% of shares of lending as well as borrowing companies, advance involved can be treated as deemed dividend u/s 2(22)(e): HC
 
Chennai, October 09, 2018
ST - Club or Association Service - Interest on instalment is only a financial arrangement for deferred payment and is not a taxable entity as it cannot partake character of consideration for services provided: CESTAT
 
Mumbai, October 09, 2018
I-T - Depreciation u/s 32 can be claimed on BOT Rights: ITAT
 
Hyderabad, October 08, 2018
ST - Convoluted scheme in the form of MoU adopted by petitioner academy and society, two separate legal entities, manned by one single individual, essentially seems to have been directed at avoiding tax liability but in effect, it amounted to evasion of tax: HC
 
Hyderabad, October 08, 2018
GST – Very fact that GOI amended Rule 117 of CGST Rules, 2017 is a recognition that certain dealers were unable to electronically submit their declarations in FORM GST TRAN-1 on 27.12.2017: HC
 
Cuttack, October 08, 2018
GST - Officers cannot throw their hands in desperation and blame computer for failure of uploading which lead to cancellation of provisional registration: HC
 
Kochi, October 08, 2018
I-T - Unaccounted money found during search and declared only in return filed pursuant to proceedings u/s 153A, is liable to penalty as per Explanation 5A of Sec 271(1)(c): ITAT
 
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