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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Chennai, August 16, 2018
CX - CENVAT Credit of Basic Excise Duty can be utilized for payment of EC & SHE Cess as they are 'duties of excise': CESTAT
 
Ernakulam, August 15, 2018
VAT - Existence of 'mischief' in words of statute is sine qua non for applying Heydon's Rule; is inapplicable where meaning is clearly discernible: HC
 
Mumbai, August 14, 2018
CX - Grant of loan by private limited company to one of its share holders for creating a proprietary unit - whether clearances are to be clubbed for purpose of SSI exemption: CESTAT
 
Mumbai, August 14, 2018
I-T - Sec 80IB benefits cannot be claimed on contract manufacturing without having control over it: HC
 
Ernakulam, August 14, 2018
Wealth Tax - Cash-in-hand kept by proprietary firm being assessable unit is not taxable as 'assets' u/s 2(ea)(vi) when required disclosure was made in its books of accounts: HC
 
Mumbai, August 14, 2018
Maharashtra VAT - As per Rule 53(6)(b) proportionate disallowance of ITC to Mutual Fund Trust is allowed on account of gold which was resold after 6 months from date of purchase under Gold ETF scheme: HC
 
Mumbai, August 14, 2018
Cus - Bitumen occurs naturally in Kermanshah province of Iran, therefore, alleging that none of the countries in middle East mined or exported Natural bitumen is on shaky foundation: CESTAT
 
Jaipur, August 14, 2018
I-T - Interest on income tax refund is not eligible for deduction to power generation company eligible for Sec 80IE benefit: ITAT
 
Mumbai, August 14, 2018
ST - Just because service recipient had instructed them not to raise invoices, it cannot be justifiable reason for not raising invoices and non-payment of tax when it is not disputed that payments were received from clients: CESTAT
 
Mumbai, August 14, 2018
CX - Interest is chargeable on Credit wrongly availed but not utilized up to 31.03.2012 - no apparent mistake which can be rectified: CESTAT
 
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