News Update

EU resolves to go ahead with digital tax if OECD fails to broker global consensusCOVID-19 & Digital Technologies eat up romance of 'OFFICE' & also sovereignty to levy taxes!Obituary: Shiva Kant Jha passionately fought judicial battles in public interestsCus - Onus rests with the Revenue to establish that valuation of imported goods was incorrect & it is not for the importer to prove otherwise: CESTATCX - Limitation period for filing refund application must strictly be followed - no relief can be allowed if assessee files refund claim after prescribed time period & the same is rejected on limitation: CESTATST - When an amount deposited loses the character of service tax, it can only be treated as a deposit - such amount merits adjustment u/r 6(3) and becomes liable for refund: CESTATLate filing fee u/s 234E cannot be levied where date of filing TDS statement & date of intimation are prior to date of introduction of Section 234E: ITATHigh Speed Rail Corporation opens bids covering 47% of Mumbai-Ahmedabad corridorOnce liability stands converted into share application money with consent of creditors, then same cannot be treated as cessation or remission of liability, either unilateral or bilateral: ITATIn case of unabated assessments, no addition can be framed u/s 153A unless it based on tangible material incriminating the assessee, found in course of search operations: ITATCOVID-19 - PM asks States to increase testing & ensure 100% RT-PCR testsTheory of extrapolation cannot be applied on mere theoretical or hypothetical basis in absence of any incriminating & corroborative evidence or material brought on record by the AO in this regard: ITAT871 formulations of essential medicines covered under price controlStatements of third parties per se do not qualify as incriminating evidence: ITATCus - Notification 5/2019-Cus dt. 16.02.2019 imposing duty of 200% on all goods originating in or exported from Islamic Republic of Pakistan was uploaded on the e-Gazette at 20:46:58 hours - power of re-assessment u/s 17(4) could not have been exercised for self-assessments made earlier in the day - Revenue appeals dismissed: SC LBGST - Bench cannot sit in appeal and postulate that decision of Council is not what they have unwaveringly held it to be: HCGST - Response of Union Minister to query cannot prevail over decision of Council and also cannot form basis for impugning decision of Council or notification notifying tax rate: HCBombay HC stops hearing as it’s pouringStartup ecosystem for rural & tribal entrepreneurs being developed: GovtRajya Sabha adjourned sine die; bids sayonara to 11 retiring Members from UP & Uttarakhand'Lost Decade' if austerity dominates winning policy space: UNCTADCBDT notifies New Form 15C to accommodate Insurer with banking companies for Sec 195(3) certificateThe Interest ConundrumSeizure of Cash made during investigation - Legality under GST?VAT - Assessee cannot be relegated to invoke appellate remedy, where writ remedy is sought in contest of a non-speaking order which suffers from arbitrariness: HCUDAN: Demand-driven Scheme for affordable air travel: PuriExpenses incurred by the company for holding a dealers' conference or towards sales promotion, cannot be considered for determining assessee's liability towards Fringe Benefit Tax u/s 115WB(2)(c): HCIndia not in position to accept Data Free Flow with Trust: GoyalCX - Revenue cannot refuse to accept surrender of assessee-company's registration certificate where no enforceable dues are recoverable from the assessee: HCMonsoon Session may wrap up today; CAG to table 29 reports in HouseAssessment u/s 153A can be resorted to only if any material incriminating the assessee is found during Search operation conducted u/s 132: ITATSales Tax - Tribunal upheld assessment order by considering a remand report only & without hearing the assessee - case remanded for passing fresh order: HCCouncils sets up to help MSMEs in resolving delayed payments: Sarangi
Untitled Document
Seizure of Cash made during investigation - Legality under GST?
K Srinivasan
September 23, 2020
Deficits and fulfilling promises to States - A different view
V Ranganathan
September 22, 2020
Increase in ITC availability or reduction in GST rate - Sec. 171 is of no avail - NAA orders are ultra vires
R K Singh
September 21, 2020
Interest imbroglio u/s 50 - Board's rescue act
Shailesh Sheth
September 21, 2020
Anti-Profiteering under GST - An analysis of the nature and structure of NAA
Vinayak Mathur
September 18, 2020
Law on extension of Compensation Cess and other ground realities
K Srinivasan
September 16, 2020
RoDTEP - A wake-up call
SN Panigrahi, Vivek Gupta & Rishabh Kumar Sawansukha
September 15, 2020
CAROTAR, 2020 - challenges for importers
Shweta Jain & Garima Goyal
September 14, 2020
Refund - matching ITC with GSTR-2A - Exporters are at a disadvantage
Anuj Kakkar
September 11, 2020
Realty Sector - Is it compulsory to claim 1/3 rd deduction towards land?
S Sivakumar
September 10, 2020
GST - An agenda for reforms - Part - 87 - GST - Casual and routine use of extreme powers
Dr G Gokul Kishore
September 09, 2020
Implications of savings clauses under CGST Act and 101 st CAA & the difference
K Srinivasan
September 08, 2020
Curious case of refund of tax paid to the wrong 'government'
Venugopal A P
September 07, 2020
Trade with China - Tread Cautiously
S Murugappan
September 07, 2020