News Update

CBI registers case against Netherlands-based Ballarpur International Holdings for Rs 151 Cr bank fraudSinking birth rate - China allows students a week off to ‘fall in love’Strong thunderstorms kill 22 and rip off houses in 8 of Central US StatesWB Chief worries over rising Chinese loans to AfricaUkraine scoffs at Russia assuming presidency of Security CouncilUS smackdown with crypto industry helping HK welcome them with open armsGST - March collections peak to Rs 1.6 lakh croreIndia’s defence exports peak close to Rs 16,000 CroreGoogle upgrading Bard to compete with ChatGPTCOVID surges back; 2994 cases reported in 24 hoursEven after being fined, Delhi CM again asks for details of PM’s degreesCus - CESTAT's reasoning and conclusion that LCD panels [used in TV sets; Audio systems in automobiles] are classifiable under CTH 9013.8010 is sound and unexceptionable: SCGovt’s debt grows by 2.6% in Q3 of FY 2022-23CX - Once the order-in-original sanctioning refund came to be set aside in a proceeding u/s 35E, there is no question of any further notice u/s 11A: SCGST - Amendment to Rule 89(4)(C) of CGST Rules is illegal, arbitrary, unreasonable, irrational, unfair, unjust & ultra vires Section 16 of IGST Act & Section 54 of CGST Act as well as Articles 14 & 19 of Constitution; hence merits being quashed: HCST - Re-insurance does not cover the risk to the asset; is not excluded from the definition of 'input service': HCCBDT inks 95 Advance Pricing Agreements in FY 2022-23I-T - Addition made w.r.t. profits from diamond purchases is upheld, where assessee is not shown to have sufficient bank balance to purchase diamonds & is unable to explain how such purchases were made: ITATGovt culls Rs 17.3 lakh crore tax revenue net to Centre by Feb-endScindia inaugurates direct flight between Indore and SharjahIndian exports eyeing USD 2 trillion target by 2030: GoyalCus - Merely because appellant has been issued a License by Drugs & Cosmetics Act, it cannot be said that Saccharomyces Boulardii are known and understood as medicine, same are to be classified under Chapter 21: CESTATWith Presidential assent, Finance Act 2023 gets enacted w.e.f April 01, 2023Italy bans AI-driven bot ChatGPTPowerful tornado hits Arkansas; Central US gears up for aggressive weatherKozhikode Airport Customs seizes gold worth Rs 2 CroreManish Sisodia again denied bail; Nothing wrong in arrest warrant found

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