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, March 14, 2013
To equate MMRDA with road construction corp would be an insult, both to common sense and to organization, especially when one considers varied nature of activities undertaken by them – notfn. 21/2002-Cus not available: CESTAT
 
New Delhi, March 13, 2013
73400 taxpayers default in paying Rs 3850 Cr taxes for FY 2012-13
 
Kolkata, March 13, 2013
I-T - Whether any benefit derived by assessee on account of amalgamation can be construed as an income taxable as per provisions of Sec 28(iv) - NO: ITAT
 
Mumbai, March 13, 2013
In Customs Act nowhere is it mentioned that arranging for loan or giving amount on lease for payment of duty of imported goods constitutes offence for imposition of penalty under Section 112(a)/(b) - Appeals allowed: CESTAT
 
Ahmedabad, March 13, 2013
CX - H.R. Coils exempted under Notif. 6/2002 - merely because some waste was cleared on payment of duty does not mean that both, dutiable and exempted goods were manufactured out of common inputs - rule 6(1) of CCR, 2004 is applicable: CESTAT
 
Kolkata, March 12, 2013
Whether when assessee fails to maintain separate accounts for taxable & non-taxable income, no wrong can be found with CIT invoking revisionary powers to disallow interest expenditure incurred on account of non-taxable income - YES: HC
 
Mumbai, March 12, 2013
ST - to market agrochemicals in USA appellant sourced technical data readily available from company situated in USA - data is available off shelf to all for price - activity prima facie cannot come within purview of BAS under reverse charge - stay granted: CESTAT
 
New Delhi, March 12, 2013
CENVAT credit cannot be denied on ground that manufacturer of goods has not paid duty where inputs stand received on basis of valid documents and after taking all reasonable precautions - CESTAT
 
Ahmedabad, March 11, 2013
ST - Services provided in relation to operation of accounts of EPFO & ESIC are not taxable under Financial Services - however, since appellant has paid ST demand and are not claiming any refund, no penalty is imposable: CESTAT
 
Mumbai, March 11, 2013
I-T - Whether income of a Trust involved in mixed activities of religious and charitable nature warrants invocation of Sec 13(1)(b) - NO: ITAT
 
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