News Update

NITI Aayog conference - TN aks for 100% of indirect tax revenue & urges Centre to keep 100% of direct taxesStates to get over Rs 11 lakh crore from Union of India this fiscal: PMGoyal asks Railways GMs to keep addl coaches to improve punctualityDG, Vigilance, R K Barthwal to join CBIC as New MemberPanel formed to study guidelines for insurance marketing companiesFloods ravage North-East; Over 15 reportedly killed so farChina hits back; imposes addl tariffs on USD 50 bn worth American goodsIGI Airport Customs battling unique smuggling techniques; seizes gold from cavity of legs of gas stoves; Amritsar Customs seizes drugs coming from PakistanI-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 a wilful concealment: HCEU Film Festival to last on Aug 31; opening in Delhi on MondayST - CENVAT - Refund - Rule 5 of CCR, 2004 does not stipulate registration of premises as a necessary pre-requisite for claiming a refund: High CourtMerchandise exports surge; Services exports remains mutedI-T - Once expenditure on technical knowhow is availed by manufaturers u/s 35AB, their eligibility to claim depreciation on such know how ceases: HCPM to address NITI Aayog Governing Council's 4th meeting tomorrowDRI arrests leading jeweller for diversion of 1700 kg goldCommerce Minister meets USTR; further resolves to reduce deficitIMF says none wins a trade war; losers are on both sidesIGI Airport Customs seizes gold worth Rs 8 Crores in last three days; nabs Chinese, Azerbaijan and Iranian nationalsUS President okays tariff plan on USD 50 bn worth of Chinese goodsApplications invited for posts of JDC & DDC on deputation basis in SEZsPay bribes to end Crony capitalistic Rules in Incredible India!One fact, divergent Advance Ruling on GSTCBDT notifies 280 as Cost Inflation Index for FY 2018-19Indian Bureaucracy - Lateral Entry - Avoidable storm over mere jharokha of Reform!

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