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PLI scheme for electronics manufacturing sees incremental investment of Rs 8,390 CrG20 finance leaders agree to tax super-rich but forum not yet readyDPIIT promotes green logistics industry balancing economic growth and environmentIndia, US ink pact to stymie illegal trafficking of cultural propertyRailways expands tracks by 31,180 kmFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaGovt to enhance reach of Indian Digital Public InfrastructureFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaGovt provides incentives to small tea growersEU penalises 5 countries for infringing budget rulesI-T-Transaction involving transfer of unutilised shares cannot be deemed to be sale of shares so as to attract levy of Long Term Capital Gain u/s 112: ITATChina says Relations with Japan at critical stageST - Once the activity of appellant that is of forfeituring the amount of earnest money is not a declared service, question of retaining said money as consideration for rendering such service becomes absolutely redundant: CESTATEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesFM favours debt reduction but sans affecting economic growthKargil Victory Day: PM warns Pak against practising terrorismChina pumps in subsidies worth USD 41 bn into car sectorMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SC

MESSAGE BOARD

   


Najib Shah finally makes it to CBEC Chairmans Room

No jargons of Make in India, First Develop India etc will prove fruitful unless the inherent anomalies in the Rules are rectified. More than six months have elapsed on a simple unresolved issue of accumulated Edn Cess which could not be utilized by assessees all over India. Latest ranking of Ease of Doing Business of India stood at 130. How the business can be done with ease when Govt is attempting to get richer at the cost of tax payers. Poorly drafted amendment in Rules due to lack of vision and farsightedness costs the tax payers heavily. Now all eyes and hopes are on the new Chairman, just like hornbill waiting for rain.
As DDT pointed out and reminded, let us hope that the new Chairman will take a call on Cess credit which has become dormant ever since the announcement of Budget 2015 instead of promoting unnecessary litigation.

james pg 29/10/2015

 

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