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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Chennai, June 16, 2018
I-T - Easy escape for cine star - If assessee fails to return advances received but puts same in balance sheet on bona fide belief that such advances are not income, it is not to be construed as concealment: HC
 
Chennai, June 16, 2018
ST - CENVAT - Refund - Rule 5 of CCR, 2004 does not stipulate registration of premises as a necessary pre-requisite for claiming a refund: High Court
 
Chennai, June 16, 2018
I-T - Once expenditure on technical knowhow is availed by manufaturers u/s 35AB, their eligibility to claim depreciation on such know how ceases: HC
 
Mumbai, June 15, 2018
ST - 'Exposure fee' charged by US Exim bank is only an interest and not liable to service tax: CESTAT
 
New Delhi, June 15, 2018
I-T - Amendment vide Finance Act, 2015, introducing clause (c) to Sec 200A(1) cannot be applied retrospectively to earlier AYs: ITAT
 
Mumbai, June 15, 2018
CX - No CENVATable input was used for generation of electricity, therefore, demand u/r 6 of CCR, 2004 does not sustain: CESTAT
 
Mumbai, June 14, 2018
I-T - Pre-existing circular cannot be a basis for reopening an assessment when, same has no relevance with issue in hand and was substituted by subsequent amendment: HC
 
Hyderabad, June 14, 2018
I-T - Proceedings validly initiated by Revenue cannot be invalidated on basis of technical flaws in assessment order, if defect was cured by passing corrigendum: ITAT
 
Mumbai, June 14, 2018
I-T - A club open to a section of community cannot be construed to be set up for benefit of an individual or class of individuals: ITAT
 
Mumbai, June 14, 2018
ST - Appellant seeking detail of income head considered for taxable value is legitimate as without such detail neither SCN is justified nor it satisfies principles of natural justice: 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.