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, February 19, 2015
ST - Since contract for construction of Mall was terminated on May 31, 2007 & new contract was entered into on June 5, 2007, therefore, there is no infirmity in appellant having paid ST under Composition Scheme - fact of paying ST is enough indication to show that they have opted for payment: CESTAT
 
New Delhi, February 18, 2015
I-T - Whether success fee paid to non-resident co for preparing scheme for finances and to tie up required loans by Indian company falls within ambit of fees for technical services as consultancy service - YES: Supreme Court
 
Mumbai, February 18, 2015
CX - Rule 7 - Provisional assessment - If interest was to be recovered & was indeed payable on date on which Assessee made payment of differential duty & prior to finalization of assessment, then, Rule would have specifically said so: HC
 
Chennai, February 18, 2015
ST paid under reverse charge by LTU - DTA unit is prima facie not eligible for CENVAT Credit of ST paid in respect of SEZ unit - Pre-deposit ordered: CESTAT
 
Mumbai, February 18, 2015
Income tax - Whether when assessee-developer following project completion method receives certain sum towards parking charges from vacant land, it is liable to pay advance tax on the same - YES: HC
 
Mumbai, February 18, 2015
CX - Manufacture - s.2(f) - Duty paid PVC sleeves cut into horizontal pieces and subjected to heat treatment to form sealing sleeve for purpose of shrink wrap - Process amounts to manufacture and duty is payable: CESTAT
 
Chennai, February 17, 2015
Re-export of 'Progesterone' alleged to be spurious - Pending criminal proceedings, it is not appropriate for Dy Drugs Controller to pre-determine that drugs are 'spurious' now itself in order to reject claim for re-exporting of consignment - Re-export allowed subject to conditions: HC
 
Bangalore, February 17, 2015
KVAT - Whether a Work Station is a computer accessory or a furniture as understood in common parlance - computer accessory, rules HC
 
Mumbai, February 17, 2015
CENVAT - Rule 57A does not mandate that credit can be claimed only if there is emergence of final product or that manufacture of final product is complete - Credit admissible on inputs destroyed in fire: High Court
 
New Delhi, February 17, 2015
Income tax - Whether when assessee had undertaken detailed engineering drawings as per specifications, but actual manufacture and production work was outsourced, assessee would still be entitled for Sec 10B benefits: HC
 
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