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, February 17, 2014
ST - Ajay Devgn aka Bajirao Singham not entitled to take CENVAT credit on Club service as same relates to personal activity & has no nexus with business: CESTAT
 
Chennai, February 17, 2014
CENVAT - Credit taken not utilized & reversed - Penalty not imposable, but interest exists in view of SC decision in Ind-Swift - question of size of demand not relevant when major question of law is involved: HC
 
Hyderabad, February 17, 2014
I-T - Whether when assessee has earned capital gains on transfer of land to developer, not filing Return because papers were missing, warrant penalty - YES: ITAT
 
Mumbai, February 17, 2014
ST - listing fee charged towards banner advertising - SCN alleges activity would be exigible to tax under online data access - demand dropped - in appeal memo, Revenue seeks classification under BAS but has no merits: CESTAT
 
Mumbai, February 16, 2014
CX - appellant paid ST for Works Contract - since Composition Scheme was availed in respect of ST on condition that CENVAT is not availed on inputs, permitting appellant to take CENVAT against CX duty would mean they are disentitled to benefit of ST: HC
 
Mumbai, February 16, 2014
CX - Classification of Brown Sugar under same heading 23.01 as applicable to Bagasse would not alter position about applicability of Rule 6: CESTAT
 
New Delhi, February 15, 2014
Increased production of bank notes by SPMCIL to cushion withdrawal of notes printed prior to 2005
 
Ahmedabad, February 15, 2014
Cus - SCN issued is for finalization of classification on basis of proposal and prima facie opinion of department rejecting classification - therefore, this is not a case where recovery of duty under s. 28 is preceded finalisation of classification - SCN is not without jurisdiction: High Court
 
Ahmedabad, February 14, 2014
Central Excise - CENVAT Credit - Penalty under Rule 15(2) of CCR, 2004 - validity of Rule upheld: High Court
 
Hyderabad, February 14, 2014
Income tax - Whether once a charitable institution gets registered u/s 12AA, it ipse dixit entitles the assessee to get benefits under Ss 11 or 12 - NO: AP High Court
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.