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, June 28, 2013
CX - Waxes & fatty acids arising during manufacture of Refined Rice Bran oil are entitled to benefit of exemption - waste exempted is necessarily only such waste which is dutiable because exemption would only arise if goods are otherwise dutiable - appeals allowed: CESTAT
 
Bangalore, June 27, 2013
I-T - Whether payment of one time custodian charges to NSDL pursuant to statutory obligation upon assessee to enter into agreement with depository for dematerialization of securities can be allowed as revenue expenditure - YES: HC
 
New Delhi, June 27, 2013
Commercial or Industrial Construction Service - Explanation inserted in 2010 is applicable only prospectively: CESTAT
 
Kolkata, June 27, 2013
CX- Goods cleared on payment of duty by two manufacturers from same factory premises - Duty again demanded from main manufacturer - Stay granted: CESTAT
 
Ahmedabad, June 26, 2013
I-T - Whether the fact that TDS was not deducted on certain payments, was declared so in return, even then AO can re-assess on ground of failure to make full and true disclosure of facts - NO: HC
 
New Delhi, June 26, 2013
ST - SCN should not be read with hyper technicality - What that is intended by language and object of SCN shall be understood in such manner that said notice seeks to achieve - appellant provides source of information to ultimate user through code number - Pre-deposit ordered: CESTAT
 
Gwalior, June 26, 2013
Drawback - petitioner procured inputs under Rule 19(2) and used same in manufacture of goods exported - Revenue's plea that since petitioner paid duty after issue of SCN, hence, not eligible for drawback is not acceptable as there is no such condition in proviso to Rule 3 (1): HC
 
Mumbai, June 25, 2013
Cus - Rule 9 of Valuation Rules is not residuary rule - technological fees of USD 45 mn made to parent SKODA for manufacturing 45,000 car kits is includible in AV - equivalent penalty and interest imposable: CESTAT
 
Kolkata, June 25, 2013
I-T - Whether before bringing any interest expenditure under ambit of Rule 8D(2)(ii), it is necessary for AO to prove that such interest is not directly attributable to any particular receipt - YES: ITAT
 
Mumbai, June 25, 2013
ST - interior repairwork - demand confirmed under construction service - as per definition, in respect of repair, alteration, renovation or restoration, it is specifically mentioned that it is in relation to building or civil structure - there is no mention of 'part thereof' in sub-clause (d) of definition - stay granted: CESTAT
 
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