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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New Delhi, January 26, 2013
Fruits of economic growth should not become monopoly of privileged: President Mukherjee
 
Rome, January 26, 2013
Emerging middle class fuelling growth: ILO report
 
Paris, January 25, 2013
EU decides to implement Financial Transaction Tax
 
Mumbai, January 25, 2013
Cus - There is no provision in Customs Act similar to Sec 179 of IT Act or Sec 18 of CST Act where dues of Pvt Ltd company can be recovered from Directors - action of Revenue in seeking to issue notice of demand and levy of attachment are unlawful: High Court
 
New Delhi, January 24, 2013
NDPS - Prolonged trial and imprisonment as undertrial - Directions and Guidelines Issued: SC
 
Hyderabad, January 24, 2013
Income tax - Whether gains on foreign currency received from service providers for plying of ships is income incidental to tonnage income - YES: ITAT
 
Hyderabad, January 24, 2013
ST - Activities of 'Scientific Research' and 'Consulting Engineering Services' are different – Scientific Research not taxable prior to 16.07.2001 under Consulting Engineer Service: AP High Court
 
Mumbai, January 24, 2013
CX - SSI Exemption - clearance of goods in brand name of another person - for a part of demand period, there is no assignment deed and even for later period, assignment will take place only when Trade Marks are registered - Benefit not available - Appeal dismissed: CESTAT
 
Hyderabad, January 23, 2013
Income tax - Whether when assessee claims Sec 54F benefits, settlement cost paid towards purchase of property from official liquidator of High Court is allowable deduction - NO: ITAT
 
Mumbai, January 23, 2013
Cus - although BG executed was valid upto year 2015, Revenue had encashed same - since Stay granted in 2006 has been extended, Revenue directed to refund sum of Rs 50L within 7 days and BG to be kept alive BG till disposal of appeal: 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.