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, April 15, 2014
ST - During audit certain discrepancy was found in tax payment and immediately appellant paid same along with interest - no intention to evade tax - penalties imposed u/s 76, 77 & 78 set aside: CESTAT
 
New Delhi, April 15, 2014
Income tax - Whether income from letting out property is to be treated as business income merely because property is commercial in nature and rental is exorbitantly high - NO: ITAT
 
Mumbai, April 15, 2014
Stay order passed by Bench in matter of applications filed by main appellant cannot be held to lay down any binding precedent of ratio - Pre-deposit ordered - Tribunal by Majority
 
Mumbai, April 14, 2014
Parliament competent to impose Service Tax on Restaurants and hotels - Single Judge Kerala HC order cannot be accepted: Bombay HC
 
Mumbai, April 14, 2014
ST - SC Judgment in Mafatlal cannot be applied to such an extent so as to totally override and brush aside provision like Sec 11B with rule of limitation carved out therein - Refund claim time barred: HC
 
Ahmedabad, April 14, 2014
Works Contract - Appellant cannot be compelled to pay ST under Composition Scheme or value service part by resorting to Rule 2A & thus be held ineligible for CENVAT availed on cement or TMT bars used for factory shed: CESTAT
 
New Delhi, April 13, 2014
ST - service provided by appellant to customers by facilitating fore-closure of loans clearly falls outside ambit of business auxiliary service: CESTAT
 
Chennai, April 13, 2014
CX - Penalty - There is nothing with Revenue to establish that conduct of assessee in paying duty on transaction value of rusted inputs, though amendment requiring reversal of credit came into effect from 01.03.2003, was with an intention to evade duty: HC
 
Paris, April 13, 2014
Major OECD countries trim tax credits & tax-free allowances; personal income tax goes up
 
New Delhi, April 12, 2014
Delhi VAT - If accounts were not properly maintained, AO had rightly come to conclusion that total possible sale was much higher and conclusion so arrived at was based on sound reasons: Supreme Court
 
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