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, December 19, 2012
CENVAT credit - Services utilized for erection and installation of Ammonia Storage Tank at port - Rule 4(7) is to be read with definition of input service under Rule 2(l) - input services used in relation to storage outside factory will not be eligible for credit - Demand upheld: CESTAT
 
Mumbai, December 19, 2012
I-T - Whether when assessee is engaged in business of manufacturing fuel briquettes from bagasse, a waste of sugar industry, merely because assessee pays for purchase of such waste, it loses entitlement to benefits u/s 80JJA - NO: Bombay HC
 
Ahmedabad, December 19, 2012
Cus - Scope of Appeal - CESTAT decision regarding Rate of Duty - Appeal against it has to be filed before SC under Sec 130E of Customs Act – Revenue's appeal dismissed: HC
 
Ahmedabad, December 18, 2012
I-T - Whether deeming fiction created u/s 50 with respect to depreciable assets would be confined for purpose of mode of computation of capital gains contained in Ss 48 and 49 and would not cover exemption u/s 54EC - NO: HC
 
New Delhi, December 18, 2012
ST - Money Transfer from abroad - Whether Export or Service rendered in India - It is export of service - CESTAT by Majority
 
Mumbai, December 18, 2012
CX - It was not proper on part of Revenue to enforce recovery by appropriating rebate sanctioned against demand confirmed when stay had been granted by Tribunal - DC has shown contempt to orders of Tribunal – Registry directed to forward order to CBEC Chairman - appeal allowed: CESTAT
 
New Delhi, December 17, 2012
I-T - Whether when AO initiates reassessment proceedings after giving notice, AO's jurisdiction is restricted to reassess income only to the extent of materials, which were basis for issuance of notice - NO, entire assessment: Delhi HC
 
Mumbai, December 17, 2012
CX - Rebate - appropriation of sanctioned rebate against dues to department - appropriation when stay application is pending before Tribunal is not sustainable in Law: CESTAT
 
New Delhi, December 17, 2012
Discharge of CESTAT Member, colourable exercise of power, stigmatic and punitive in nature - arbitrary and violative of Article 14 of Constitution - Ordered to be reinstated: Supreme Court
 
Mumbai, December 17, 2012
Import of microprocessors intended for retail sale - goods are pre-packed and are required to be affixed with MRP - prima facie benefit of nil rate of Addl duty cannot be denied on ground that importer is claiming benefit of notfn. 6/2006-CE - stay granted: CESTAT
 
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