News Update

Railway Minister meets PM, takes moral responsibility for twin train accidents; PM asks him to ‘wait’Public Sector Banks get Cabinet nod to amalgamate through Alternative Mechanism (See 'CORP BRIEF' in clarifies on levy of GST on space selling by ad agencyCabinet approves Commission to examine sub-categorisation of OBCsCabinet approves New Central Sector SchemeCabinet okays MoU between India and Nepal for curbing drugs traffickingCabinet approves closure of loss-making Bharat Wagon + land allotment for MP Govt State Guest House in DelhiGovt to set up National Sports Museum at Nehru Stadium in Delhi'Prabhu' under pressure - One more train accident; Auraiya Express derails in UP; Over 50 injured -ST - It was not open for adjudicating authority as well as Commr. (A) to visit an issue which was not subject matter of SCN: CESTATRs 20K Cr tax demand case - HC describes Vodafone's litigation before two forums under BIPAs as abuse of legal processThe proposed 2017 OECD Model tax Convention (See 'TII EDIT')ST - Immobilized Airbus 300 leased to training institute for imparting cabin crew/hospitality training - lease rent rightly taxable under BSS: CESTATYoung CEOs Event - PM for less-cash society; says GeM has logged transactions worth Rs 1000 CrCus - AA should not have misplaced sympathy - to deter evasion, mandate of statute to impose equivalent penalty should not be ignored: CESTATI-T - Mere failure of prescribed authority to send intimation in Form 3CL, is not enough to deprive manufacturer's claim of deduction u/s 35(2AB) incurred on R&D expenses: HCST - Nature of work is clearly in nature of regular maintenance which may include replacement of certain items or provision of new items -services do not fall under CICS: CESTATGST Ordinance - Union Cabinet likely to approve Ordinance to hike CESS on auto manufacturersGST - Govt notifies fresh tax rates for GTA + renting of motor cab + jobwork of printing of newspapers & journals + composite supply of works contract to Govt agencies + exempts services provided by and to FIFA + services by Fair Price Shop + Crop Insurance Schemes + LLP to be construed as Partnership firm + services of plumbing & house-keeping through e-commerce platforms liable to registrationFM reviews macro economic stability of economyNITI Aayog To Launch 'Mentor India' CampaignMoS, PMO calls for 'Make in India' health moduleI-T - Whether Explanation to Sec 37(1) gets attracted even if there is no specific material to suggest participation of assessee in alleged kickbacks - NO: HCApex Court rules Triple Talaq is unconstitutionalTreading the GST Path XXX What isTrump warns Pakistan against providing shelter to terror groupsITC claim on Railway Receipt in lieu of Tax InvoiceComposite and mixed supply under GST - Golmaal ReturnsHM launches Digital Police Portal; FIRs can now be filed online in 34 States & UTsI-T - Contributions to provident fund not recognized as valid deduction u/s 80C(2)(vi), is deemed as short-deductions u/s 192 and hence taxable as 'Income from other sources' : ITATCX - Being busy with procedural requirement under GST is no ground to grant adjournment: CESTATIndia's exclusive rights to explore polymetallic nodules from seabed extendedChennai Airport Customs seizes gold worth Rs 4.6 Crore; One person arrestedGovt appoints CISF ADG Dharmendra Kumar as DG of Railway Protection ForceGlobal Forum releases compliance ratings for 10 tax jurisdictions (See 'Brief' in 'TII')

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