News Update

Brazil’s proposal to tax super-rich globally finds many takers in G20 GroupCPM manifesto promising annihilation of all weapons of mass destructions including nuclear, draws flak from Defence MinisterBiden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliersUS Poll: Biden trumps Trump in money race by USD 75 mnNetanyahu says Israel to decide how and when to respond to Iran’s aggressionGoogle slays costs by laying off staffers & shifting roles outside USCoast Guard apprehends Indian fishing boat with unauthorised cashI-T - Sales supported by payments through banking channel which were not only disclosed in VAT returns but duly verified & accepted by VAT Department, cannot be treated as bogus to invoke Sec 68: ITATSPACE, testing & evaluation hub for sonar systems, set up by DRDO, inaugurated in KeralaGST - Malabar 'Parota' Is Akin To 'Bread', Exigible To 5% GST: HCST - Principles of constructive res judicata applies - Petitioner cannot seek to assail proceedings on grounds which were available to be raised in first round of litigation: HCHeavy downpours drown Dubai; Airport issues travel advisoryGST - If the Proper Officer was of the view that any further details were required, the same could have been specifically sought before passing any order - Matter remitted: HCHM pledges to make India completely Maoist-freeGST - Proper Officer has not applied his mind to the reply submitted and has merely held it to be devoid of merits - Order set aside and matter remitted: HCGST - Order was issued without hearing the petitioner - It is just and necessary to provide an opportunity to petitioner to contest the tax demand on merits: HCGST - Classification - It is incumbent on the respondent to duly consider all contentions raised by petitioner objectively without any pre-determination: HCGST - Whether the amount reflected as ITC tallies with the value of credit notes issued - Petitioner's explanation not duly examined - Matter remanded: HCGST Penalty of Rs. 3731 Crores on an employee!CCI okays acquisition of additional shareholding of Thyssenkrupp by Protos EngineeringMicrosoft to inject USD 1.5 bn in AI Group G42 of UAEDRDO organises workshop on 'Emerging Technologies & Challenges for Exoskeleton'Canadian budget proposes more taxes on higher income groups & tax credits for EVsI-T - Since application filed for condonation of delay is rejected by order without stating reason is set aside and application is restored for reconsideration: HCWorld leaders appeal for quick ratification of UN Ocean TreatyI-T- Re-assessment - if assessee submits objections thereto, then AO must pass order dealing with objections & also establish that facts presented by assessee are prima facie incorrect: HCUK House debates ban on smokingI-T- Deduction u/s 43B in respect of GST cannot be disallowed, where assessee is found to have paid GST before due date of filing ITR: ITATGlobal economy to grow at 3.2% in current year and also 2025: IMFGreat Barrier Reef in Australia suffers serious bleachingVAT - Input Credit - mere production of invoices or payment made by cheques/RTGS is enough to discharge burden of proof upon assessee: HCUS to impose fresh sanctions on Iran’s missile programmeDelhi Police nabs woman for thieving luxury SUVs
Untitled Document

MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
NEW DELHI

NOTIFICATION NO

1/2016-NARCOTICS CONTROL-I, Dated: January 22, 2016

G.S.R. 97(E). - In pursuance of rule 8 of the Narcotic Drugs and Psychotropic Substances Rules, 1985, the Central Government hereby makes following amendment in the Government of India, Ministry of Finance, Department of Revenue, Notification No. G.S.R. 757(E) dated 5th October, 2015 published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i) (hereinafter referred to as the said notification), namely:-

1. In the said notification, in paragraph 2, after sub-paragraph (vii), the following shall be inserted, namely:-

"(viii) Cultivators of all those villages in the State of Rajasthan,who cultivated opium poppy either in the crop year 2013-14 or in the crop year 2014-15 and got de-licensed in the subsequent crop year, namely 2014-15 or 2015-16, as the case may be, for tendering opium below the stipulated average yield of the relevant year, if:-

(a) natural calamity and resultant crop damage had been reported by the District Administration in that village in the crop year 2013-14 or in the crop year 2014-15 as the case may be ; and

(b) the average yield of opium in that village in the crop year 2013-14 and 2014-15 had gone down when compared to the average yield of that village in the crop year 2012-13 and 2013-14 respectively, and

(c) more than 50% of the cultivators in that village who tendered opium in the crop year 2013-14 and 2014-15 got de-licenced in the crop year 2014-15 and 2015-16 respectively:

Provided that in a village where less than 10 cultivators tendered opium in the crop year 2013- 14 or in the crop year 2014-15, as the case may be, the percentage criteria of 50% mentioned above shall be substituted as 30%.".

2. In the said notification, in paragraph 4, after sub-paragraph (iii), the following shall be inserted, namely:-

"(iv) All eligible cultivators under paragraph 2, sub-paragraphs (vi), (vii) and (viii), shall be issued licence for 10 Ares.".

3. In the said notification, in paragraph 7, after sub-paragraph (v), the following shall be inserted, namely:-

"(vi) A cultivator, who becomes eligible for a licence under sub-paragraph (viii) of para 2, shall have the option to seek licence either in the crop year 2015-16 or in the crop year 2016-17.".

[F. No. 14011/01/2015-NC-I (Pt.I)]

(T K Satpathy)
Under Secy.

Note. - The principal notification was published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i) vide number G.S.R.757 (E) dated the 5th October, 2015 and subsequently amended vide Notification number G.S.R. 904 (E) dated the 26th November, 2015.

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.




Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.