News Update

Govt initiates anti-dumping probe into imports of Newsprint in rolls or sheets from Canada, Australia, EU, HK, Russia and SingaporeGovt notifies National Startup Advisory CouncilMadras HC says NO to any relief to Karti Chidambaram & his wife in assets caseImport of Gifts - Board issues clarification and rescinds Instruction 9/2017-CusST - It is settled law that it is not open to the Department to question the eligibility to Cenvat credit while adjudicating upon a claim for refund of credit: CESTATCX - Rule 10 of Valuation Rules requires that the entire sales should be made through related person - only 25-30% sales are through related person and remaining sales are to independent buyers and to Govt. bodies: CESTATCus - When penalty is imposed on partnership firm, separate penalty cannot be imposed on its partner: CESTATWealth Tax - Assessee cannot revise value of jewellery declared in returns, where its true value has been ascertained by the High Court's orders passed in a criminal matter involving the same jewellery: ITATPenalty u/s 271(1)(c) imposed subsequent to search operations is justified if assessee concealed particulars of income, unlikely to be uncovered if not for the Search: ITATRe-assessment proceedings are unsustainable where approval for the same is accorded mechanically & without due application of mind: ITATIt is fit case for remand to probe angle of misuse of corporate veil in respect of share premium received by assessee-company: ITATCancellation of telecom licence - Arbitration claim against India dismissedDPIIT to showcase Startup India Tableau in Republic DayNo date extension for GSTR-3B for December month; Fake CBIC tweet being circulated; TIOL regrets errorACC clears appointment of 31 Joint Secretaries in various MinistriesGST - An agenda for reforms - Part - 70 - Supplying clarity to supplies between distinct personsIMF plays conservative, further cuts India’s growth rate to 4.8%IGI Airport Customs mans Iranian with gold cut pieces worth Rs 1.25 CrRBI allows Rupee derivatives at IFSCElectoral Bond scheme - SC issues notice to UoI & EC on plea seeking stayJ P Nadda elected unopposed as BJP full-time PresidentBudget 2020 - Printing process begins with Halwa ceremonyIndia, Germany to increase collaboration in Industry 4.0 & cyber securityJ&K Block Development Council polls are historic step: MoSManufacture - The Ever Haunting Term!FM says States have no authority not to give effect to CAADigital tax - Battle between USA & EU to be fought at DavosED attaches Sanjay Singal’s properties worth Rs 204 Cr

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