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, July 03, 2018
ST - Fees linked to sale of output in India - classification of service as 'Scientific and Technical Consultancy' in SCN appears to be inappropriate and should have been 'Intellectual Property Service': CESTAT
 
New Delhi, July 02, 2018
I-T - Authority formed by State Legislature for development of certain areas cannot seek benefit of Sec. 10(20) merely by claiming status of 'local authority': SC
 
Bengaluru, July 02, 2018
I-T - Deduction u/s 10B(1) cannot be restricted merely because third party through which export has been made is not 100 % EOU: HC
 
Chennai, July 02, 2018
I-T - HC cannot entertain an issue by exercising its power u/s 260A(6) when such issue was neither raised before ITAT nor determined by it: HC
 
Ernakulam, July 02, 2018
I-T - Verification of nature of liability as either contingent or ascertained is essential before disallowing provisions created by taxpayer for such liabilities: HC
 
New Delhi, June 30, 2018
I-T - In case of unabated assessment, assumption of jurisdiction by Revenue u/s 153A is not allowed when, no incriminating material was found during search operation: ITAT
 
Ahmedabad , June 29, 2018
I-T - Private Ltd company alloting shares to unknown shell company is equivalent to offering shares to general public & hence illegal: ITAT
 
Ernakulam, June 29, 2018
Kerala VAT - Prohibition on revision of returns where penalty proceeds were initiated, will not apply to cases seeking revision to correct bona fide errors: HC
 
Ernakulam, June 29, 2018
VAT - Bank acting as financier & selling hypothecated goods classifies as 'dealer' under Kerala VAT Act 2003: HC
 
Mumbai, June 29, 2018
CX – GTA service used for transporting old/used battery from collection center to recycler for obtaining lead and which in turn is used to manufacture fresh battery is an Input service: CESTAT
 
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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.