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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Chandigarh, September 21, 2018
I-T - Purpose of scheme under which subsidy is given decides its true nature and sales tax subsidy for setting up new manufacturing unit is capital receipt: ITAT
 
New Delhi, September 19, 2018
GST - Rs.8.23 crores profiteering - Builder directed to reduce price to be realized from buyers of flats commensurate with benefit of ITC received by him: NAA
 
Chennai, September 19, 2018
CX - In case of clandestine removal, where secrecy is involved, direct documentary evidence will not be available: HC
 
Ahmedabad, September 19, 2018
I-T - Rule 8D(ii) will have no application if interest income earned on investments outweighs interest expenditure incurred: ITAT
 
New Delhi, September 18, 2018
I-T - SETCOM doesn't enjoy luxury of rejecting an application u/s 245D(1) merely on basis of tentative findings: HC
 
Chennai, September 18, 2018
ST - In respect of any contract which is a composite contract, service tax cannot be demanded under CICS/CCS for periods also after 1.6.2007: CESTAT
 
Bangalore, September 18, 2018
I-T - Allotment of shares of company which succeeds to business of partnership firm has to be complied before end of relevant previous year in which succession of business took place: HC
 
Chennai, September 18, 2018
Cus - Rule is to prefer an appeal and entertaining a writ is only an exception: High Court
 
Mumbai, September 17, 2018
CX- In case of retrospective levy, whether interest for period before enactment of provision can be demanded: HC
 
Chennai, September 17, 2018
I-T - Cost incurred by firm for imparting foreign education to son of one of partners, who continues to work for firm after his return, is admissible business expenditure: HC
 
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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.