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 16, 2012
CX - Advance Ruling - Manufacture or Job-work - Raw material is supplied by customer and applicant charges only its making charges, it could well be a case of manufacture on jobwork basis - Activities referred to in application amount to manufacture for purpose of CX Act, 1944
 
Paris, December 16, 2012
INTERPOL-Europol operation results in global seizures of fake and illicit food
 
New Delhi, December 15, 2012
CBDT refunds Rs 52000 Cr this year so far but has no data about refund due to be paid: Minister
 
Mumbai, December 15, 2012
COFEPOSA - Detaining Authority has not made any amends to ensure that grounds of detention, basis on which subjective satisfaction has been reached must be formulated on his own and not by bodily lifting contents of proposal sent by Sponsoring Authority - Writ Petition succeeds: Bombay HC
 
Chennai, December 14, 2012
I-T - Whether assessee is entitled to claim deduction 80IB(10) proportionately in respect of residential units where there is also commercial area constructed if all other conditions are satisfied - YES: Madras HC
 
Mumbai, December 14, 2012
Refund - ST - Services such as legal and customer support activities are essential in running output services namely BAS to customers located abroad - any service which has nexus with business has to be treated as Input Service - Appeal allowed: CESTAT
 
New Delhi, December 14, 2012
Captive mines have to be considered as part of factory only - Tyres get used in process of handling raw materials which is integral part of manufacturing - nothing in definition of capital goods or inputs provides for excluding tyres - CENVAT Credit is available on tyres: CESTAT
 
New Delhi, December 13, 2012
Whether cenvat credit can be allowed on duty paid LSHS utilized as an input in manufacture of fertilizer exempted from duty - Matter referred to Larger Bench: Supreme Court
 
Chennai, December 13, 2012
I-T - Whether valuation of closing stock at market price is permissible only in cases where business is discontinued and not where business carried on by partnership firm is taken over by a successor company without any interruption on conversion of firm into company - NO: ITAT
 
Bangalore, December 13, 2012
Cus - Refund – Limitation - it would be in interest of justice to treat letter dated 06.9.2006 as refund claim - After all, whole amount had been deposited but related goods have undisputedly not arrived in India: CESTAT
 
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