News Update

NHAI to go for assessment audit & rank roads for qualityUdhav Govt decides to permit hotels to reopen with 33% capacity from July 8GST - When appeal is provided under statute, writ remedy cannot be invoked by making High Court as middle authority between respondent CTO and appellate authority: HCIndia, China agree to disengage troops in Eastern LadakhGovt denies any move to merge CBDT & CBICNon-payment of consideration within 180 days and ITC reversal in GST (See 'THE INSIGHT' in Taxongo.com)Unlocking of economy - 30% firms operating at 70% capacity utilisation: SurveyCOVID-19 - Global tally spikes to 1.16 Crore with 5.37 lakh deaths + New cases - US inches close to 30 lakhs + 16 lakh in Brazil + India advances close to 7 lakh - third highest in worldKerala Customs seizes gold cargo worth Rs 13 CroreAvailability of ITC in respect of duty/tax paid after July 2017 for past transactions under CEA, 1944/FA, 1994/CA, 1962ST - Assessee collects, processes & stores data of MNREGA beneficiaries on behalf of a State Govt entity - such activity entails discharge of sovereign function & no service tax can be demanded thereon: CESTATTaxability of Trusts and InstitutionsSpike in COIVD-19 cases in Gujarat - Ahmedabad Pr CCIT office hunkers down to provide logistics & other support to patients in DepartmentCX - Valuation - Approach of Revenue by disintegrating the wholesale package and determining the value of individual components under separate provisions of the same Act is not permissible: CESTATCOVID-19 impact on Start-ups - 12% down shutters; 70% adversely hurtCX - Construction service was availed for construction of own manufacturing premises - credit admissible: CESTAT140 in race to develop vaccine for Coronavirus; COVAXIN gets official nodCus - Transaction value of imported goods cannot be rejected without showing any contemporaneous evidence of higher price - charges of undervaluation are unsustainable where no evidence exists to show that assessee & overseas buyers are related parties: CESTATProf Raghavan favours use of CSR funds for R&DReceipt of cash gift through banking channels is per se insufficient to establish creditworthiness of donor or genuineness of such gift: HCProvisions of Section 2(22)(e) cannot be invoked where assessee-company maintains running transactions with its subsidiary: ITATExpenses incurred on repair & annual maintenance of computers are revenue expenses & are eligible for deduction: ITATCOVID-19 - Recovery Rate - Five States report over 80% + 9 States between 70-80 per cent + India’s averages about 60.77 per centGenetic risk score to be reliable tool in diagnosing type-1 diabetes in India
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NHAI to go for assessment audit & rank roads for quality
July 06, 2020
Unlocking of economy - 30% firms operating at 70% capacity utilisaion: Survey
July 06, 2020
COVID-19 impact on Start-ups - 12% down shutters; 70% adversely hurt
July 06, 2020
140 in race to develop vaccine for Coronavirus; COVAXIN gets official nod
July 06, 2020
Prof Raghavan favours use of CSR funds for R&D
July 06, 2020
Genetic risk score to be reliable tool in diagnosing type-1 diabetes in India
July 05, 2020
FPOs to be catalyst for rural economy: Tomar
July 05, 2020
Digital India AatmaNirbhar Bharat App Innovation Challenge launched
July 05, 2020
If GSTR-3B filed before Sept for July 2017- July 2020, max late fee to be waived
July 04, 2020
Jaipur Customs nabs 14 pax with 32 kg gold worth Rs 15.6 Crore
July 04, 2020

Power Sector - Import replacement a priority: Union Minister
July 04, 2020

Goyal lauds efforts of Exporters as June month shows recovery
July 04, 2020
HRD Minister announces fresh exam dates of NEET & JEE Mains & Advance
July 04, 2020
Bangalore CGST releases Manual on GST Refunds
July 03, 2020
CBDT releases refund of over Rs 62K Cr during lockdown
July 03, 2020
Govt invites public comments on All India Tourist Vehicles Permit Rules
July 03, 2020
HM hammers on more testing through Rapid Antigen in NCR
July 03, 2020
Govt provisions foodgrains for 8 Cr migrant labourers but final no turns out to be only 2.8 Cr
July 03, 2020
India going for defence shopping worth Rs 38900 Cr
July 03, 2020

COVID-19 - Recovery rate peaks to 60%
July 02, 2020

Nominations for Padma Awards-2021 invited till Sept 15th
July 02, 2020
Govt notifies standardised transport vehicles dimensions based on global norms
July 02, 2020

Digital transactions - Daily average soars from Rs 66 lakh in 2014 to 16.3 Cr in 2020
July 02, 2020

COVID-19 - Recovery rate touches 59.43%
July 02, 2020
GST Day - FM stresses on simplified tax administration
July 02, 2020
GST collections bounce back to about Rs 91000 Cr in June month
July 01, 2020

Govt plans to kickstart cashless treatment of motor accident victims
July 01, 2020

GST - DGGI books unregistered pan masala unit
July 01, 2020
Amendments in Stamp Act, 1899 relating to securities market come into force from today
July 01, 2020
GST - Misclassification of DGS - Distillers raided
July 01, 2020
Core Sector - Contraction rate decelerates in May
July 01, 2020
Tomar flags off helicopter services for locust control through aerial spray
July 01, 2020