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, May 11, 2015
Cus - Reward guidelines are framed by Govt to be followed by Officers in its proper spirit and not to be violated at whims and fancies: High Court
 
Mumbai, May 11, 2015
Income tax - Whether a prospective nature of amendment in statute can make any difference in assessment of year which is prior to date of amendment - NO: HC
 
Mumbai, May 11, 2015
CX - No statute permits that if buyer is entitled for CENVAT Credit then supplier can avoid to pay duty - Plea of Revenue neutrality cannot be accepted - when invocation of proviso to S. 11A is not under dispute, imposition of penalty is inevitable: CESTAT
 
New Delhi, May 10, 2015
Every State to get one Smart City; List of 100 being finalised; US to provide only knowhow, not financial aid: Minister
 
New York, May 10, 2015
Human smuggling - Number through Bay of Bengal, world's most dangerous sea route, goes up to 25000: UNHCR
 
New Delhi, May 09, 2015
China accounts for huge imports of bulk drugs by India; Govt working on policy to promote manufacturing
 
Ernakulam, May 09, 2015
Pre-deposit ordered by Tribunal challenged in Writ - Tribunal did not deal with specific contention of petitioner with regard to non-establishment of wilful representation - However, HC refrained from interfering with direction of Tribunal to pre-deposit Rs 20 lakhs since it appears reasonable
 
New Delhi, May 08, 2015
Central Excise - Manufacture - sterlilisation of syringes and needles does not amount to manufacture: Supreme Court
 
New Delhi, May 08, 2015
Income tax - Whether 'hundi discounting charges' can be treated as capital expenditure, when same was charged to revenue account on year to year basis, for all previous and subsequent years - NO: HC
 
Bangalore, May 08, 2015
Karnataka VAT - Penalty for understated liability - Return includes revised return - no understatement in revised return; no penalty: High Court
 
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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.