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, June 20, 2013
I-T - Whether assessee-EoU is entitled to Sec 10B benefits on receipts from training activities when it has not received any foreign exchange in this repsect - NO: Madras HC
 
Bangalore, June 20, 2013
CENVAT Credit - Interest on irregular credit - Karnataka High Court Judgement per incuriam - SC Judgement in Ind-Swift applicable: CESTAT
 
Mumbai, June 20, 2013
ST - Refund - - IT-enabled services i.e. software consultancy service exported during impugned period was classifiable as exempted service under Rule 2(e) of CCR, 2004 and even if an exempted service is exported benefit of CENVAT Credit and Rules thereof shall be allowed to exporter - Appeal allowed: CESTAT
 
Bangalore, June 19, 2013
I-T - Sec 10AA - Whether a roadmap to guillotine tax exemption is not a condition precedent for Parliament to introduce sunset clause - NO: Karnataka HC
 
Bangalore, June 19, 2013
CX - Inputs used in process not considered as manufacture by Department - Duty paid - Credit cannot be denied and duty cannot be again demanded under Section 11D: CESTAT
 
Mumbai, June 19, 2013
ST - Market fee collected from licencees by APMC is classifiable under BAS and same is exempted under notification 14/2004 - however, ST payable on renting of shops - since appellant has paid ST with interest, no penalty imposable: CESTAT
 
Bangalore, June 18, 2013
CX - CENVAT Credit - Transfer of credit to different registered premises of Large Taxpayer - No ISD Registration required - Transfer of credit different from distribution: CESTAT
 
Bangalore, June 18, 2013
I-T - Whether if shareholders choose to transfer lands to purchaser of shares it would be valid transaction in law even if it avoids paying capital gains tax on such transaction - YES: HC
 
Bangalore, June 18, 2013
Service Tax - HSBC's Rs 200 Cr case goes back for de novo adjudication from CESTAT
 
Bangalore, June 17, 2013
Whether when assessee holds securities as investment as per RBI norms, but shows same as stock-in-trade, deduction for loss from such stock at FY-end can be denied merely because it was shown as investment - NO: HC
 
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