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, July 22, 2014
CX - Despite receipt of directions from Revenue, appellant failed to discharge excise duty liability - they also did not submit details sought by department and continued to drag issue by prolonged correspondence - suppression of information on part of the appellant is clearly established: CESTAT
 
Chennai, July 22, 2014
I-T- Whether when MAT liability of assessee is found out only because of alertness of AO, levy of penalty u/s 271(1)(c) is legitimately warranted - YES: HC
 
Mumbai, July 22, 2014
ST - Appellant, country liquor manufacturer, enters into selling agency agreement with HUF allowing them to use brand name 'Pahili Dhar' - No Service Tax is payable under IPR - Appeal allowed: CESTAT
 
New Delhi, July 21, 2014
FM asks CCITs to unearth black money stashed abroad; Also encourages them to not only realise revenue target but also to surpass it
 
Hyderabad, July 21, 2014
Demand of duty on clandestine clearances - findings of Tribunal on suppression of manufacture and removal of dutiable product cannot be faulted - However, MODVAT credit extended on raw materials: HC
 
Mumbai, July 21, 2014
Income tax - Whether disallowance u/s 14A can exceed total administrative expenditure debited by assessee in Profit & Loss account - NO: ITAT
 
Mumbai, July 21, 2014
Cus - Seizure of Gold from under sea - Captain of vessel arrested on charge of throwing gold into sea - Trial court acquits accused - Revenue's appeal dismissed: HC
 
New Delhi, July 20, 2014
238 Companies vanished after raising funds through public issues: FM
 
New Delhi, July 20, 2014
Manufacturing Sector contribution to GDP stabilises at 15%; No separate data on capital goods maintained
 
New Delhi, July 19, 2014
Govt providing different packages of tax concessions and financial aid to many NER, HP, Uttarakhand and J & K
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.