News Update

IGST Refund for July month - Rs 132 Cr sanctioned in 10 days out of Rs 753 Cr, says CBEC ChairpersonGST - Revenue Secretary favours overhauling of rate structureMumbai Customs clears pendency of over 1 lakh claims and disburses drawback payment of Rs 7500 CrorePM inaugurates RO-RO ferry service between Ghogha & Dahej in GujaratWorld Economic Forum says Indian economy is on ascendancySovereign Gold Bond - Issue price to be Rs 2971/- per gram for subscription period Oct 23-25RBI insists on bank accounts being linked to AadhaarNo proposal to change method of calculating ceiling prices of scheduled drugs: GovtGovt clarifies it fixes prices of only about 17% of total drugs being sold in marketSolicitor General Ranjit Kumar puts in his papersFormer President Pranab Mukherjee loses his 86-yr-old brother; to attend last rites at BolpurChidambaram raps EC for not announcing Gujarat election datesST - Errors in CESTAT order - Perplexing that instead of setting out paragraph from apex court order against assessee, Tribunal order in favour of assessee reproduced - non-application of mind: High CourtSuspension of Reverse Charge - Side EffectAnti-dumping duty on Soda Ash imported from China, Pakistan and Iran to continue till decision of Gujarat HC - Rescinding Notification to remain in suspensionImports and Exports to Democratic People’s Republic of Korea - Paragraph 2.17 of the FTP 2015-2020 updated to account for UNSC ResolutionsI-T - Rent received for permitting 'hoarding' inside vacant premises of a housing society, are equally eligible annual letting value, so as to claim Section 24 deduction: ITATST – Entire exercise is revenue neutral since service tax which was payable was available as a CENVAT Credit to the appellant themselves instantly after making the payment of service tax: CESTATCX - Soap noodles was sold by HLL to companies against form 'C' who manufactured branded soap - Rule 8 of CE Valuation Rules, 2000 can be resorted to only when transaction is not of sale: CESTATTaliban-sponsored suicide bombers kill 40 soldiers in Kandhar provinceGSTN makes available offline utility for GSTR-3BGST - 2.5% CGST rate notified for intra-State supply of food preparations in unit containers meant for free-distribution to weaker sections + notifies documents to be produced for deemed exports benefitsWhite House launches Signature Campaign to mobilise support for Trump-led tax reformGST - Is it going to be costly perestroika for BJP?Younger generations to face more inequality in old age than present retirees: OECDPower Exchange - Only 4% of about 3750 MU per day generation being tradedTIOL wishes All Netizens a very Happy DiwaliFrench Parliament passes controversial anti-terror law empowering authorities to shut places of worship and restrict freedom of movementGST - CBEC clarifies on movement of goods within State and from one to another on approval basis + also notifies officers empowered to accept or reject application for GST PractitionerLinking Aadhaar with UAN - EPFO launches service for speedy servicesPM interacts with 380 Directors & Dy Secretaries in Central Govt; advises them to break silos with innovative ways

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