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 23, 2012
Global economic outlook to remain sombre, forecasts UN
 
New Delhi, December 22, 2012
Govt to announce fresh sops for exporters tomorrow; to revise SEZ Policy before Budget: Commerce Minister
 
New Delhi, December 22, 2012
Banking Bill: Inoperative accounts to finance Depositor Education Fund
 
New Delhi, December 22, 2012
Asia in 2013 - IMF Outlook - A look through prism of optimism - Many challenges lie ahead
 
Kolkata, December 21, 2012
I-T - Whether assessee is entitled to deduction u/s 54EC on investment made in REC bonds in names of minors against their LTCG in case their income is clubbed with assessee u/s 64(1A) - YES: ITAT
 
Mumbai, December 21, 2012
CENVAT credit availed on bought out items - denial of credit - final product exported along with bought out items - rebate claim to be kept pending till appeal is disposed of in matter of CENVAT credit: CESTAT
 
Mumbai, December 21, 2012
Cus - Refund - Amending notification has not been implemented retrospectively - time limit not applicable in case of refund claim filed prior to 1.8.2008 - Rejection not sustainable - appeal allowed: CESTAT
 
New Delhi, December 20, 2012
I-T - Whether when there is nothing on record that assessee has claimed TDS credit for deduction made against advance received from customers, any addition is warranted - NO: ITAT
 
Mumbai, December 20, 2012
ST - Repair of roads - Retrospective exemption - Prima facie, runways at airports are species of genus 'road' and, therefore, runways should also normally receive same treatment as roads for ST purpose - CESTAT directed to hear appeal finally within 3 months: Bombay HC
 
Ahmedabad, December 20, 2012
Writ Petition - Territorial Jurisdiction - No part of cause of action had arisen within jurisdiction of High Court of Gujarat - Petition is required to be rejected only on this ground: HC
 
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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.