News Update

Introspect over Irrational Exuberance over Moody's Mood SwingA Tax-person's perspective of bringing Real Estate under GSTI-T - Short deduction of TDS under bonafide wrong impression, due to difference of opinion as regards taxability of any item, is no basis to declare Assessee as defaulter: ITATThough DEPB scripts are issued by DGFT, relevant notifications are for Customs exemption - Power to exempt would include power to demand in event such exemption is misused: CESTATCX - It is settled position of law that once duty has been paid it is to be considered as a reversal of cenvat credit availed: CESTATWord Class Center of Excellence in Maritime to come up in Mumbai & VizagSustainable Waste Management is need of the Hour: PuriGSTN receives about 43.6 lakh GSTR-3B in October; 14.8 lakh submitted returns last dayPM felicitates Justice Dalveer Bhandari on being re-elected to International Court of JusticeToo many important issues being referred to Larger Bench; Decisions may be delayed by more than 10 years: SC BenchProblem-Solving - Let's accept it, Girls are betterDumpers designed for mining activities eligible for Project Import benefitsGST - Milling of paddy into rice on jobwork basis is liable to 5% tax rateACC approves appointments at JS-level; One IRS officer figures in list of 20Union Budget preparations to shift to top gear soon; Restrictions on entry of media persons into Ministry of Finance to come into effect from Dec 1, 2017GST on sale and lease back transactionsGST on exhibitors in India International Trade FairI-T - Power of attorney held by bureaucrat's relative for some point of time, will not pave way of additions in name of benami transaction, if bureaucrat was acquitted by competent court itself: HCST Construction of residential units for army personnel - no tax liabilty arises: CESTATCX Without issue of SCN it is not open to revenue to deny CENVAT credit in proceedings relating to refund u/r 5 of CCR, 2004: CESTATCBEC promotes officers in Chief Commissioner grade - Mr R K Sharma on regular basis + Mr K C Gupta on ad hoc basis and posts him to Patna

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