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, December 30, 2012
Govt manages to garner only Rs 6900 Cr against target of Rs 30,000 Cr from Disinvestment
 
Kolkata, December 30, 2012
HP Diesel Locomotive falling under Chapter 86 is an accessory to Torpedo Ladle Car used for carrying 300 to 350 MT of molten iron from blast furnace to conarc furnace and then to pig casting machine for manufacture of Iron & Steel Products and hence entitled to CENVAT Credit: CESTAT
 
New Delhi, December 29, 2012
Indian Textiles Ministry to study GST impact on textiles exports
 
New Delhi, December 29, 2012
2012 saw multiple policy initiatives to revive mutual fund industry
 
New Delhi, December 28, 2012
I-T - Whether when summons are issued to share allottees and they fail to respond to such notices, onus shifts back on assessee who becomes liable to addition u/s 68 - YES: Delhi HC
 
Ahmedabad, December 28, 2012
ST - Port Services - supply of fresh water by barge and bunker to vessels - from invoice it is clear that it is not cost of water alone, but it also includes other elements - Pre-deposit ordered of Rs 3.5 Cr: CESTAT
 
Mumbai, December 28, 2012
Appellants were aware that no duty was being paid on clearances of optional accessories as same were bought out items - since CENVAT was availed, credit ought to have been reversed - Appeals dismissed: CESTAT
 
Ahmedabad, December 27, 2012
I-T - Whether when assessee is a public limited company and also attracts provisions of Sec 179 because of complex nature of case, it is a fit case for AO to invoke principle of lifing of corporate veil - YES: Gujarat HC
 
Hyderabad, December 27, 2012
CX - Order passed by Commissioner while application was pending before Settlement Commission is non est: Andhra Pradesh HC
 
New Delhi, December 27, 2012
Cus - Recovery from defaulters - Former Director's properties cannot be attached for recovering dues from Company: Delhi HC
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.