News Update

India extends anti-dumping duty on Flax Fabrics till Nov 11, 2020Former President Pranab Mukherjee continues to be on ventilatorDGFT notifies exports of essential commodities to MaldivesCBIC Member S M Bhatnagar gets addl charge of Member, GSTPM favours ramping up testing in Bihar, WB, Telangana, UP & GujaratPM’s virtual meeting with CMs on COVID-19: CMs seeks financial aid from CentreGST - 'Toto' is classifiable under HSN 8703 as an electrically operated vehicle provided it is fitted with battery pack - Otherwise, it will be classifiable under HSN 8706 but not under HSN 8708: AARShifting of Unilever Headquarters - Netherlands Opposition GreenLeft Party proposes huge ‘Departure Tax’GST - Couplers, Knuckle, Locks, Toggle, Yoke etc. supplied to Indian Railways are classifiable under HSN 8607 (and not under HSN 7325) and attract GST @5%/12% (and not @18%): AARSushant case in SC - Bihar Govt counsel alleges non-cooperation from Mumbai Police; not even post-mortem report sharedIf PAN provision does not apply, higher TDS u/s 206AA shall also not apply; CBDT amends Rules and inserts new Form 49BAGST - Activity of assignment is service classifiable under 'Other miscellaneous service' (SAC 999792) and taxable @ 18%; tax paid on transfer fee is admissible as credit: AARITC under GST - Furthering interpretation to promote businessCX - Rule 8(3A) of CER - There is no bar in making use of accumulated Cenvat Credit in making payment of CE duty even during the default period: CESTATIndian products deserve fair access to other countries on reciprocal basis: GoyalCX - Rule 6 of CCR - There being no duty leviable on electricity, there is no question of Govt issuing any exemption notification, hence, same cannot be considered as exempt: CESTATTaiwan says China trying to turn it into next Hong KongST paid under RCM on import would be available as CENVAT credit, leading to revenue-neutral situation - hence charges of suppression of facts to evade tax cannot be levelled in such circumstances: CESTATRaksha Mantri launches modernization of facilities of Defence PSUsCX - s.4 of CEA - When inspection is done by third party on the request of buyer, such charges should not be included in the assessable value: CESTATInverted duty structure - Refund of Input services allowed (See 'THE INSIGHT' in Taxongo.com)I-T - Completed assessments can be interfered with by AO while making assessment u/s 153A only on basis of some incriminating material unearthed during search & which was not produced during original assessment: ITATCBDT notifies Special Courts for Black Money cases in Maharashtra StateConsideration paid for purchase of property cannot be presumed based on unsubstantiated notings on loose paper seized during search operation: ITATCBIC issues fresh Instruction on disposal of confiscated goodsRe-assessment notice is sustainable where the Revenue receives fresh material to infer escapement of income chargeable to tax: ITATI-T - Provisions of Sec 50C cannot be invoked by disregarding actual market value of property on account of litigation involved in respect of property: ITATGovt notifies anti-dumping duty on black toner in powder formHong Kong media mughal Jimmy arrested under new Security lawAndaman Islands to be major port hub for international maritime trade: PMCustoms revises procedure for import of pets and live animalsAdvance Authorisation Scheme not available in case of export of gold medallions and coins


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