News Update

Quake measuring 5.8 jolts Santiago and other parts of ChileCOVID-19 - France joins 30-lakh caseload club as 6th country; Global tally inches close to 10 Crore mark + America continues to report over 3300 daily deathsIndia vaccinates 1.4 million health workers; 3.47 lakh given two-shot jabsCongress promises to redesign GST and go for ‘One Tax, Minimum Tax’ If voted into power at CentreUnion Budget to be paperless; Mobile App launchedGST - Attachment of bank account - HC's observations of principles of natural justice being inapplicable where attachement is done to protect Revenue's interests, are sustained - assessee's SLP dismissed: SC LBPM distributes land allotment certificates to indigenous people in AssamTax fair valuation rules - Are they fair in M&A contextCus - Bank account - 'Provisional' and 'attachment' read in conjunction can only mean a temporary attachment and it is for this reason that Parliament has provided a definite timeline - same cannot be continued after expiration of outer limitation period of one year: HCCus - When Court is in seisin of a matter, administrative authority concerned cannot initiate parallel proceedings on same subject matter on its own ipse dixit : HCIndia reports 14,256 new COVID-19 cases as tally reaches 1,06,39,684GST - Director's remuneration which are declared as 'Salaries' in the books of a company and subjected to TDS are not taxable: AAARI-T - Onus to prove expenditure and its connection with business carried on by taxpayer, would lie upon taxpayer himself: ITATApplications invited for various posts with NFRAI-T - Second proviso to Sec 40(a)(ia) is curative in nature and hence, benefit of such proviso is available to transactions made during F.Y 2011-12: ITATAir quality panel ropes in IIT-D, TERI to develop tools for reducing Delhi pollutionCX - CENVAT Credit in respect of capital goods like Structural Steel items viz. M.S. Plates, Angles, Channels and HR Sheets used for civil construction activity/erection of machineries is admissible: HCSpices Board conducts buyer-seller meet for small cardamom exports to Gulf nationsGST - Petitioners should co-operate with the investigation, which would be to their own interest - not to be taken into custody till the next date of hearing: HCIndian Railways finalises tender for 44 rakes of Vande Bharat-type train setsST - Common order 14-16 passed - Excess pre-deposit made against orders 15 & 16 can be allowed to be adjusted against the pre-deposit payable towards order no. 14: HCST - Charge of service tax in USD currency per employee per pay role cycle for processing pay role of seconded employees, levied by foreign parent company, is not taxable under Manpower recruitment & supply agency service: CESTATSupply under GST - a loopy loopAddition u/s 68 on account of share capital & share premium cannot be made particularly merely because Revenue has failed to rebut documents produced by assessee: ITATUK PM says local variant of Coronavirus may be more deadly and has potential to overwhelm health systemCOVAX to get 150 mn doses of AstraZeneca + 40 mn Pfizer vaccines by Feb month: WHO ChiefProtest against Farm Laws - Some elements keen to protest and not negotiate, says Agri MinisterUnion Budget in zoonotic shadow of COVID-19 - Whether Wintry or Hot-wired?Valuation under GST - Prioritising amendments - GST - An agenda for reforms - Part - 96
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