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, March 21, 2013
Import of Toyota car - When there is a cloud in documents produced, Tribunal had rightly refused to accept same - order of Tribunal based on factual finding need not be interfered with especially when Revenue has not placed any other material to contradict such findings: HC
 
Chennai, March 20, 2013
I-T - Whether when assessee requests other companies to pay for scientific research and makes payment to them in subsequent year but claims deduction in return, such benefits u/s 35(1)(ii) can be denied by Revenue - NO: Madras HC
 
Ahmedabad, March 20, 2013
CENVAT credit eligibility is to be determined with reference to taxability of service on date of receipt of capital goods: CESTAT
 
Kolkata, March 20, 2013
Digital Local Telephone Exchange Equipment System assembled by BSNL is leviable to excise duty under CETH 85.17 – CESTAT upholds demand on BSNL
 
New Delhi, March 19, 2013
Income tax - Whether TDS benefit can be denied to deductee for fault of deductor - NO: Delhi HC
 
Mumbai, March 19, 2013
ST - Service charges paid to foreign lessor for procuring aircrafts - appellant liable to pay ST u/s 66A of FA, 1994 - pre-deposit ordered of Rs 1.5 crores: CESTAT
 
Mumbai, March 19, 2013
Notfn. 21/2002-Cus - contract did not mention M/s Gammon as sub-contractor - there is no logic and reason for deeming appellant as one - no room for intendment or presumption - exemption not available: CESTAT
 
Hyderabad, March 18, 2013
I-T - Whether when commission earned by assessee is in nature of salary as per Sec 192, assessee is required to pay advance tax as per Sec 208 when employer fails to deduct tax at source - NO: ITAT
 
Ahmedabad, March 18, 2013
ST - working as DSA for Bank – based on advise of Consultant assessee failed to pay tax - fit case for condoning lapse & not imposing penalty by invoking s.80 of FA, 1994: CESTAT
 
Chandigarh, March 18, 2013
Opinion rendered by HC on reference sought by Revenue is binding - Tribunal is to give effect to order passed by HC - appellant has sought to confuse laws then existing and after amendment - it cannot be said that Tribunal has reviewed own order: HC
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.