News Update

Govt orders mandatory declaration of stock position of wheatCPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCGovt issues advisory against calls impersonating DoTFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCECI's C-Vigil app a big hit with votersGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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New Delhi, May 24, 2014
ST - Refund - on one hand AC accepts presence of letter seeking refund in office records but on other hand observes that same has not been receipted in office - as to how said letter travelled up to concerned file and found its way therein is not understood - Matter remanded: CESTAT
 
New York, May 24, 2014
UNODC to focus on reduction of demand for wild fauna and flora
 
Mumbai, May 23, 2014
CX - S.4A - Ceramic Tiles cleared to builders in bulk - tiles which are already packed and on which MRP is declared is cleared to these buyers - no cause for valuing goods u/s 4: CESTAT
 
New Delhi, May 23, 2014
CX - Non-following of procedure of rule 4(5) of CCR, 2004 will not disentitle manufacturer from availing CENVAT credit - stand taken by Revenue in fact favours assessee operating under J&K exemption - appeals allowed: CESTAT
 
Mumbai, May 23, 2014
VAT - accepting defective compressors outside warranty period with certain fixed repair charges and replacing them at option of customer with any other repaired compressor does not tantamount to sale so as to attract Sales tax: HC
 
Ahmedabad, May 23, 2014
Income tax - Whether when assessee commits to supply certain product more than plant capacity and finally resorts to purchases from sister unit and third party to meet obligations, any disallowance of part of sale price on ground of being excessive is warranted - NO: ITAT
 
Mumbai, May 23, 2014
CX - Cutting & slitting of jumbo rolls of self-adhesive rolls does not amount to manufacture - if legislature wanted to connote this activity as manufacture it would have included CETH 4811 and 8546 in Third Schedule or added chapter note - Revenue appeal dismissed: CESTAT
 
Mumbai, May 22, 2014
ST - Management Consultant - Respondent advising Group Cos to handle issues and also undertakes discussion with banks & BCCI - such activity covered in first part of definition - respondent liable to pay tax : CESTAT
 
Mumbai, May 22, 2014
CX - Refund - Quantity discounts given to dealers at end of calendar year - incidence of duty refunded to dealer through credit notes - refund is not hit by unjust enrichment: CESTAT
 
New Delhi, May 22, 2014
CENVAT - Nobody invites fire - Revenue explanation that fire has occurred on account of negligence on part of assessee cannot be appreciated - no malafide hence penalty not imposable: CESTAT
 
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