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NEWS FLASH
 
FM tables GST Bill in Parliament Govt to allot Unique Labour Identification Number for transparency among workers (See 'Mixed Buzz') Gold raining in Hyderabad airport – Customs seizes nearly 2.5 kgs from 4 pax - Gold concealed in rectum, iron box and under seat Service Tax Liability on irrigation projects under WCS - Marathon hearing before CESTAT Larger Bench concludes at Bangalore - Order reserved (See 'Breaking News') Service Tax - Audit by CAG - Supreme Court Stays Delhi High Court Judgement in Travelite (See 'DDT') Transfer of Income tax case to Chandigarh - HP High Court grants relief to Chief Minister Virbhadra Singh & family TIOL proudly presents to you DDT 2500 - Every Day has been a learning experience (See 'DDT' Column) CX - Short payment of duty of Rs 6158 & duty demand of Rs 457 Cr by invoking rule 8(3A) of CER, 2002 - law does not care for trifles - Revenue interpretation may lead to position of chaos rather than harmony and certainty: CESTAT (See 'Breaking News') General Audit by Departmental Officers and CAG (See 'ST se GST tak' Column) Income tax - Whether if assessee makes wrong claim of royalty which actually pertained to earlier AYs, it is fit case to attract penalty if assessee fails to give valid reasons for making such claims twice - YES: HC (See 'Breaking News') Service Tax - Audit by CAG - Supreme Court Stays Delhi High Court Judgement in Travelite (See 'DDT') Govt mops up Rs 6900 Cr Clean Energy Cess so far this year: Minister (See ‘Mixed Buzz’) ST - SCN and orders sent by Speed Post is not valid service - COD applications allowed - Two SCNs were served personally to applicant - on same issue, as Tribunal has confirmed ST demand in case of Reliance Michigan JV, on merits, revenue has case - Pre-deposit ordered: CESTAT (See 'Breaking News') Foreign Exchange –Conversion Rate - CBEC corrects overvaluation of YEN (See 'DDT') Prices of 175 life-saving drugs reduced in last six months: Minister (See ‘Mixed Buzz’) CX - Sika Latex & Sika Latex Power are manufactured goods and chargeable to CE duty - addition of water to Inputs is not simple process otherwise even customers could have done same while using it - matter remanded for extending cum-duty benefit: CESTAT (See ‘Breaking News’) Interruption by Lady Lawyer - Delightful - Objectionable (See 'DDT') Deemed exports benefits - CBEC clarifies on authentication of supply invoice by excise authorities + rewarehousing of goods imported by EoU + norms for execution of BG in respect of Advance Licence & EPCG (See Circulars in ‘What’s New’) CBDT issues transfer order of 10 CITs (See 'Transfer' in Pitara) UN-backed project - farmers to grow cacao in place of drugs (See 'Mixed Buzz') CBDT issues transfer order of 3 AC/DCs (See 'Transfer' in 'Pitara') No proposal to reduce retirement age to 58; Govt spent more than Rs one lakh crore to pay salaries to its employees in 2012-13: Minister India, Germany sign pact for Euro 625 mn for Green Energy Corridors Project (See 'Mixed Buzz') President congratulates ISRO for successful launch of GSLV-MARK III SC extends Jaya's bail; directs Karnataka HC to set up Special Bench Has Union Cabinet really put GST Caravan on 'fire'! (See 'The Cob (Web)'Column) ST - Appellant manufactures liquid gases - as customers do not have cryogenic tanks for storage, appellant leases & earns rent on tanks - no ST payable under Storage services as appellant has no control on goods in tank: CESTAT (See 'Breaking News') New Companies Act - Bail for Terrorist - jail for businessman? + Amendments to Companies Act - Ease of Doing Business in India (See 'DDT' Column) Prevention of Corruption Act - substitution of Sec 13 - Govt seeks Law Commission's views (See 'Mixed Buzz') Income tax - Whether even if there is no transfer of property rights to power agent, capital gains can be taxed in his hand - NO: HC (See 'Breaking News') CAG recommends Govt needs to recover USD 161 mn disallowed cost of three oil wells (See 'Mixed Buzz') CX - Banding of soap cakes with tapes pre-printed with brand & MRP of combo pack amounts to manufacture - appellant, however, paying ST on it - since appellant is in specified area of HP they are entitled for benefit of exemption - non- filing of declaration is curable defect: CESTAT (See 'Breaking News') Cadre Review - New Commissionerates - CESTAT Appeal Forms Amended (See 'DDT') Gender Justice-Gender Tax (See 'The Third Eye'in 'Hrindiaonline.Com') I-T - Whether assessee can claim deduction u/s 35AB on accrual basis for a higher amount, even if it has actually paid less: ITAT (See '2014-TIOL-984') Permission for Prosecution of govt servants - Single Window System is in place: Minister (See 'Mixed Buzz') Union Cabinet gives nod to table GST Bill in current session of Parliament Setback for Nokia India; VAT - Whether mobile battery charger is integral part of cell phone and not an accessory and thus it is eligible of concessional rate of tax - NO: Supreme Court (See ‘Breaking News’) Lok Sabha okays amendments in New Companies Act
 
   
DDT (Daily Dose of Taxation)

TIOL proudly presents to you DDT 2500 - Every Day has been a learning experience

With VIJAY KUMAR

TIOL proudly presents to you DDT 2500 - Every Day has been a learning experience
Published: December 19, 2014

View previous DDTs »

WHAT'S NEW
CUS
:
Not 33 NT116 Cir 15-17
ADD
:
48 Inst: 08 SG: 03
EX
:
Not 25 NT 31 Cir 991
S.TAX
:
Not 23 Cir 181 Order
I-T
:
Not 81-79 Cir 17 Press Note
DGFT
:
Not 103 PN 78 Cir 14
RBI
:
Cir 49-51    
BREAKING NEWS

Bangalore, December 19
Service Tax Liability on irrigation projects under WCS - Marathon hearing before CESTAT Larger Bench concludes at Bangalore - Order reserved

Ahmedabad, December 19
CX - Short payment of duty of Rs 6158 & duty demand of Rs 457 Cr by invoking rule 8(3A) of CER, 2002 - law does not care for trifles - Revenue interpretation may lead to position of chaos rather than harmony and certainty: CESTAT

Mumbai, December 19
ST - SCN and orders sent by Speed Post is not valid service - COD applications allowed - Two SCNs were served personally to applicant - on same issue, as Tribunal has confirmed ST demand in case of Reliance Michigan JV, on merits, revenue has case - Pre-deposit ordered: CESTAT

Chennai, December 19
Income tax - Whether if assessee makes wrong claim of royalty which actually pertained to earlier AYs, it is fit case to attract penalty if assessee fails to give valid reasons for making such claims twice - YES: HC

Mumbai, December 19
CX - Sika Latex & Sika Latex Power are manufactured goods and chargeable to CE duty - addition of water to Inputs is not simple process otherwise even customers could have done same while using it - matter remanded for extending cum-duty benefit: CESTAT

MIXED BUZZ
XCuSE Updates
XCuSE
PUZZLE TO DAZZLE
Punit Vedby PUNIT PAVAN VED CA

Allegation of assessee is that AO had not applied his mind on reasons recorded for reopening. He therefore wants to cross examine AO? Should it be allowed? If yes, how?

Published: December 08, 2014

Post Answer »
THE COB (WEB)
Has Union Cabinet really put GST Caravan on 'fire'!by SHAILENDRA KUMAR

Has Union Cabinet really put GST Caravan on 'fire'!
Published: December 18, 2014

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Let growth & jobs drive the changes in taxes & expenditure in 2015-16 Budgetby TIOL EDIT TEAM

Shift tax reforms from talk mode to action mode
Published: December 10, 2014

View previous Editorials»

ICE CUBES
by NARESH MINOCHA Mrs Smriti Irani, Please Think Before Launching 'Think in India'

Mrs Smriti Irani, Please Think Before Launching 'Think in India'
Published: December 17, 2014

View previous ICE CUBEs »

GUEST COLUMN

Should Education Cess be deducted while Withholding Tax? by LUKOSE JOSEPH & ANIL P NAIR

Should Education Cess be deducted while Withholding Tax?
Published: December 16, 2014

View previous Guest Column(s);

ST se GST tak

General Audit by Departmental Officers and CAG by GEETIKA SRIVASTAVA

General Audit by Departmental Officers and CAG
Published: December 19, 2014

View previous ST se GST tak(s)»

View 'ST - New Law +VE or -VE' Articles»

 
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