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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Ahmedabad, May 15, 2018
I-T - Development of housing project does not qualify for full deduction u/s 80IB(10), where utilization of FSI is way short of permissible area of construction & assessee has not made any special ground for under utilization of FSI : HC
 
Ahmedabad, May 15, 2018
I-T - It is mandatory for Settlement Commission to verify actual date of passing of assessment order by AO before proceeding to decide application for settlement of proceedings: HC
 
Ahmedabad, May 15, 2018
I-T - Repudiations by assessee in settlement application by regularly revising income is sufficient to doubt declarations and merits rejection: HC
 
Mumbai, May 15, 2018
ST - Date of filing of refund through ACES should be reckoned as date of filing of refund claim: CESTAT
 
Mumbai, May 15, 2018
CX - Term 'such goods' appearing in Rule 7 are goods which are originally cleared from factory - sale price of plain MS will only apply and not that of ’Speed': CESTAT
 
Ahmedabad, May 14, 2018
VAT - Contractor using self-manufactured inputs in execution of works contract is eligible for composition of tax under state VAT Act: HC
 
Raipur, May 14, 2018
I-T - Notice served on assessee u/s 148 through a Chartered Accountant cannot be treated as valid notice based on which AO can finalise such proceedings: HC
 
Ahmedabad, May 14, 2018
I-T - Based on information received post assessment, regarding receipt of large number of fake share applications and bogus issue of share capital by assessee, reopening of assessment can be initiated : HC
 
New Delhi, May 14, 2018
Cus - Whether HC is mandatorily required to call for statement from Tribunal in every case where a reference is made u/s 130A – matter to be decided by larger Bench: SC
 
Chandigarh, May 14, 2018
CX - Letter acknowledged by Sector Officer is an intimation submitted to Asstt. Commr.– Benefit of 50/2003-CE available: CESTAT by Majority
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.