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, March 22, 2015
Number of shipping companies opting for tonnage tax system goes down to 46
 
Mumbai, March 22, 2015
CX - Copier & Maplitho paper cleared in reel form on payment of duty to cutting centres wherefrom paper sheets were sold at higher values - Value at which goods are sold from place of sale shall be TV - Pre-deposit ordered: CESTAT
 
New Delhi, March 21, 2015
Hacking of Indian Websites goes up to 32323 in 2014: Minister
 
Kolkata, March 21, 2015
Cus - TV sets as baggage - Claim for free allowance by a passenger cannot be made by pooling free allowance of any other passenger even if they are family members - Petition dismissed: High Court
 
New Delhi, March 20, 2015
Net of Black Money Bill expands - targets financial interest in foreign entity; proposes to levy Rs 10 lakh penalty for non-furnishing of return
 
New Delhi, March 20, 2015
Customs - Import of saloon cars used as taxis - CVD - Central Excise Exemption Notification for manufacturer applicable: Supreme Court
 
Mumbai, March 20, 2015
ST - Merely because tower parts are assembled together, it would be totally unreasonable to suggest that CENVAT Credit is not admissible - Without use of these duty paid towers/parts as inputs, BSS in form of Passive Telecom Infrastructure could not have been provided - Appeals allowed: CESTAT
 
Bangalore, March 20, 2015
Income tax - Whether once habitable asset is acquired, any expenditure incurred on additions or improvements of habitable asset is eligible for deduction u/s 54F - YES: HC
 
New Delhi, March 20, 2015
Cus - Circular 50/2005 referred by petitioner pertains to auction by custodians and in present case Circular applicable is 12/2006 as auction is by customs directly - Petitioner has no locus standi - Petition dismissed: High Court
 
Brussels, March 19, 2015
Curbing corporate tax avoidance: European Commission unfolds tax transparency package; to improve cross-border tax rulings among Members
 
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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.