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, January 22, 2014
Customs - Fraudulent drawback claimed by exporter - Overvaluation - appellant-bank has no role to play - No doubt there has been some negligence on part of HDFC Bank in not properly verifying export documents but omissions do not fall within scope of Sec 113(i): CESTAT
 
Mumbai, January 22, 2014
CX - Raw materials procured under exemption notification 1/95 diverted to DTA - appellants not disputing demand on merits - demands not time barred as they have been issued within five years from date of knowledge - Appeals dismissed: CESTAT
 
Ahmedabad, January 21, 2014
SEZ - Notification issued on 4.6.2007 for expansion of SEZ to include additional area will relate back to 19.4.2006 when first Notifn was issued - Demand of duty on goods cleared to additional area before second Notifn set aside - Tribunal by Majority
 
Ahmedabad, January 21, 2014
Income tax - Whether any adhoc disallowance of payment made u/s 40A(2)(b) to sister concern is warranted merely on basis that it was run by wife of Director of assessee company - NO: HC
 
Mumbai, January 21, 2014
ST - Appellant, an IITian rendered consultancy services in respect of metal development and received professional fees - such service cannot be termed as Market Research Agency Service: CESTAT
 
Ahmedabad, January 20, 2014
Income tax - Whether employees' contribution to PF credited after statutory date under respective Provident Fund Acts but within due date of filing return u/s 139 is eligible for deduction u/s 36 - NO: HC
 
Mumbai, January 20, 2014
CX - SCN invokes extended period and alleges that appellant has availed abatement wrongly - word 'wrongly' means that there was no deliberate act by appellant - duty liability not contested but paid - mandatory penalty not imposable: CESTAT
 
New Delhi, January 20, 2014
FEMA - Transaction through authorized persons - 'No violation' - Penalties quashed: Supreme Court
 
New Delhi, January 19, 2014
Indo-Pak trade: Working Groups of Customs, Railways & Banking to meet soon; Lahore to host 'India Show' in Feb
 
New Delhi, January 19, 2014
PPP Appraisal Committee approves projects worth Rs 7600 Cr
 
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