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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Shimla, February 26, 2013
I-T - Whether when Medical Council's amended rules prohibit freebies gifted to practitioners by pharma cos, any fault can be found with CBDT Circular disallowing expenditure incurred on such freebies - NO, validity of Circular upheld: HC
 
Mumbai, February 26, 2013
Rejected goods cleared as Scrap on payment of duty - Revenue seeking reversal of CENVAT Credit taken u/r 16(1) - duty paid on Scrap not considered - Prima facie strong case in favour - Stay granted: CESTAT
 
Mumbai, February 26, 2013
ST - Appellant appointing Courier Agents outside India - Revenue seeking ST under reverse charge mechanism - services rendered abroad - liability to pay ST u/s 66A of FA, 1994 does not arise - situation revenue neutral - Prima facie case in favour - Stay granted: CESTAT
 
Ahmedabad, February 25, 2013
I-T - Whether when very foundation of reopening is knocked out, any further proceeding in respect to such assessment can still survive - NO: HC
 
Mumbai, February 25, 2013
ST - Since sugar is a manufactured product it cannot be said that service rendered to sugar factory is in relation to agriculture - pre-deposit ordered of 50% of ST dues: CESTAT
 
Mumbai, February 25, 2013
CX - Respondent assessee is not successor of business and, therefore, is not liable to pay arrears of dues incurred by registered unit whose factory was taken over by FIs and auctioned and which premises was purchased on lease from successful bidder - Registration certificate cannot be revoked: CESTAT
 
New Delhi, February 24, 2013
IRDA to relax norms to channelise funds into infra sector: Minister
 
New Delhi, February 24, 2013
Study on Radiation from Mobile Towers and Cell Phones - Vague findings so far: Minister
 
New Delhi, February 23, 2013
Cyber Frauds: Banks lost Rs 52.6 Cr in 2012; RBI maintains no data for public sector banks
 
New Delhi, February 23, 2013
New Banks - RBI releases Guidelines; Rs 500 Cr minimum equity proposed
 
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TIOL Tube brings you an interview with former US Secretary of Treasury, Mr. Larry Summers who was recently in Delhi.

AR not Afar by SK Rahman



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.