News Update

Indo-Dutch trade relations all set to get boostCEIB invites applications for DD-level postsCabinet gives nod for cellular service in Naxal districtsOpposition closes ranks; Kumaraswamy sworn in as Karnataka CMIndia, Turkey ink MoU for import of poppy seedsCabinet approves mobile scheme for MeghalayaForeign Exchange Earnings register 10% growth in April, 2018CX - It is settled law that authority conferred with jurisdiction over recipient is not competent to re-determine tax liability suffered on input at supply end: CESTATJourney towards the Trust Based GST RegimeSales Tax - Rendering of voice transmission service does not involve any transfer of equipment or transfer of right to use, to attract salex tax: HCGST on Non-supply of services (See 'JEST GST on GST Home Page')I-T - On receipt of information from VAT Department about bogus purchases if AO observes that 'deep verification' is required, still reassessment proceeding cannot be initiated at this stage: HCGovt notifies Draft Pax Charter Defining RightsST - Appellant and M/s SITV form part of same company and it is only a division of appellant - discharge of service tax liability by M/s SITV on behalf of appellant does not tantamount to discharging service tax liability of another company: CESTATCBDT grants three months to task force on DTCModi, Putin discuss international issues'Nipah Virus': Centre ensures availability of diagnostic kits in KeralaMP generates 3900 MW of renewable energyI-T - Major relief for DPS; Transport facility provided by schools to their students only, are incidental to educational activity, and hence exempted: ITATI-T - Stock discrepancy in books of account can lead to subsequent addition based on Gross Profit: HCI-T - Compensation paid to retrenched workers on closure of manufacturing unit is allowable business expenditure u/s 37: ITATI-T - Abnormally high LTCG in short span of time without expert advice, from unlisted company's share whose even net worth is not known to assessee, is beyond business logics and is a valid reason to make addition u/s 68: ITATNipah Virus spreading in Kerala - Central team dispatchedTreading GST Path - XLIV - Understanding Anti-profiteeringCX - CENVAT - Merely routing billing transaction through appellant will not make appellant as recipient of C&F service: CESTATTax on Ocean Freight -A long legislative haulACC approves senior level appointmentsST - Whether ticket is bought directly from airline or through General Sales Agent (GSA), same would not make any difference - classifying services under BAS and demanding tax is not sustainable: CESTATCX - Valuation -S.4 of CEA, 1944 - Price prevailing for sale at depot immediately 'prior' to clearance from factory gate was to be adopted: CESTATThe new AEO Scheme


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