Taxindiaonline.com
Taxindiaonline.com Taxindiaonline.com TIOL Tube Taxindiainternational.com
 
LOGIN
Forgot Password |  Register  
Wednesday , February 10, 2016 | Updated : Feb 10, 10:51 IST
Income Tax    Customs    Excise    Service Tax    FEMA    DGFT    SEZ    Misc    Pitara    Budget   
About Us Contact Us Advertise
Taxindiaonline.com Taxindiaonline.com Taxindiainternational.com
 
 
NEWS FLASH
 
ST - New entry of Mergers and Acquisitions (M&A) extends coverage of service tax and is not result of carving out new entry from Management Consultancy Service - ST is not payable on M & A Services prior to 16.7.2001 under category of 'Management Consultancy Service': CESTAT (See 'Breaking News') Effect of 'in limine' dismissal of SLP by Supreme Court and Filing of Review Petition in Supreme Court - CBEC Clarifies (See 'DDT' Column) Customs - Goods imported against forged DEPB Licences purchased from open market - Appellant has not taken any precaution - Supreme Court decision in Aafloat Textiles followed - Hico Enterprises distinguished - Demand upheld: CESTAT (See 'Breaking News') Reversal of CENVAT credit on Input Services, capital goods by Developers - exemption needed (See 'Budget Run-up') ST being destination based consumption tax, in case of exports there should not be any tax burden and tax burden, if any, is to be imposed by Govt. of country where services are consumed, otherwise, it would render exports of software uncompetitive - Refund admissible: CESTAT (See 'Breaking News') Monitoring of realisation of Export Proceeds (See 'DDT') I-T - Whether when interest is paid to banks in India, payment made on foreign currency loan taken from foreign banks is exempt from provisions of Sec 194A - YES: ITAT (See 'Breaking News') Manner of Signing of Certificates by Chartered Accountants (See 'DDT') CX - 100% EOUs are entitled to clear goods in DTA without payment of duty under Notification No 43/2001 CE(NT) - Revenue contention that Notification is not applicable to EOUs is not correct: CESTAT (See 'Breaking News') Govt increases Tariff Value of gold & silver (See 'NT 23' in What's New) CBEC field formations ask how to interpret SLP 'in limine'? - Board clarifies at length (See Circular in 'Excise') Over two crore cases are pending in the country's lower courts: Law Ministry Govt revises All Industry Rates of Duty Drawback for many items effective 11.02.2016 (See 'Notification 22' in 'What's New') India is through with its homework; about to approve WTO Trade Facilitation Agreement, says Commerce Secretary Former Nepal PM Sushil Koirala passes away in Kathmandu; PM says India has lost a valuable friend Competition Appellate Tribunal stays penalties totalling Rs 106 crore imposed by CCI on IndiGo and SpiceJet SC declines to entertain PIL on farmer's suicide Bombay HC advises MSRTC to modernise bus stands by providing WiFi service, private canteens and better toilets to lure passengers I-T - Whether for purpose of computing deduction u/s 80IC, sale of scrap is to be held as eligible item for deduction u/s 80IC - YES: ITAT (See 'Breaking News') In spite of repeated instructions from Board, a large number of grievances have not been disposed of within prescribed timeline - CBDT Chief (See 'DDT' Column) ST -It is a common knowledge that any Insurance company is required to have chairs and tables to render services to their clients - CENVAT Credit admissible of CE duty paid on chairs & tables: CESTAT (See 'Breaking News') Looking through Section 32AC of Income Tax Act (See 'Budget Run-up') ST - New entry of Mergers and Acquisitions (M&A) extends coverage of service tax and is not result of carving out new entry from Management Consultancy Service - ST is not payable on M & A Services prior to 16.7.2001 under category of 'Management Consultancy Service': CESTAT (See 'Breaking News') Effect of 'in limine' dismissal of SLP by Supreme Court and Filing of Review Petition in Supreme Court - CBEC Clarifies (See 'DDT' Column) Customs - Goods imported against forged DEPB Licences purchased from open market - Appellant has not taken any precaution - Supreme Court decision in Aafloat Textiles followed - Hico Enterprises distinguished - Demand upheld: CESTAT (See 'Breaking News') Reversal of CENVAT credit on Input Services, capital goods by Developers - exemption needed (See 'Budget Run-up') ST being destination based consumption tax, in case of exports there should not be any tax burden and tax burden, if any, is to be imposed by Govt. of country where services are consumed, otherwise, it would render exports of software uncompetitive - Refund admissible: CESTAT (See 'Breaking News') Monitoring of realisation of Export Proceeds (See 'DDT') I-T - Whether when interest is paid to banks in India, payment made on foreign currency loan taken from foreign banks is exempt from provisions of Sec 194A - YES: ITAT (See 'Breaking News') Manner of Signing of Certificates by Chartered Accountants (See 'DDT') CX - 100% EOUs are entitled to clear goods in DTA without payment of duty under Notification No 43/2001 CE(NT) - Revenue contention that Notification is not applicable to EOUs is not correct: CESTAT (See 'Breaking News') Govt increases Tariff Value of gold & silver (See 'NT 23' in What's New) CBEC field formations ask how to interpret SLP 'in limine'? - Board clarifies at length (See Circular in 'Excise') Over two crore cases are pending in the country's lower courts: Law Ministry Govt revises All Industry Rates of Duty Drawback for many items effective 11.02.2016 (See 'Notification 22' in 'What's New') India is through with its homework; about to approve WTO Trade Facilitation Agreement, says Commerce Secretary Former Nepal PM Sushil Koirala passes away in Kathmandu; PM says India has lost a valuable friend Competition Appellate Tribunal stays penalties totalling Rs 106 crore imposed by CCI on IndiGo and SpiceJet SC declines to entertain PIL on farmer's suicide Bombay HC advises MSRTC to modernise bus stands by providing WiFi service, private canteens and better toilets to lure passengers I-T - Whether for purpose of computing deduction u/s 80IC, sale of scrap is to be held as eligible item for deduction u/s 80IC - YES: ITAT (See 'Breaking News') In spite of repeated instructions from Board, a large number of grievances have not been disposed of within prescribed timeline - CBDT Chief (See 'DDT' Column) ST -It is a common knowledge that any Insurance company is required to have chairs and tables to render services to their clients - CENVAT Credit admissible of CE duty paid on chairs & tables: CESTAT (See 'Breaking News') Looking through Section 32AC of Income Tax Act (See 'Budget Run-up')
 
   
BUDGET RUN-UP
budget_runup2016
Reversal of CENVAT credit on Input Services, capital goods by Developers - exemption needed
by JAIPRAKASH H SHETHIYA
Published: February 10, 2016
India comes with a big bang- startup India standup India!
by SHEETAL BHATIA
Published: February 09, 2016
Looking through Section 32AC of Income Tax Act
by ASHIT KR CHATTERJI
Published: February 09, 2016
Pre-Budget Proposal - Cement Industry cries for attention
by ARVIND GUPTA
Published: February 08, 2016
 
DDT (Daily Dose of Taxation)

Effect of 'in limine' dismissal of SLP by Supreme Court and Filing of Review Petition in Supreme Court - CBEC Clarifies

With VIJAY KUMAR

Effect of 'in limine' dismissal of SLP by Supreme Court and Filing of Review Petition in Supreme Court - CBEC Clarifies
Published: February 10, 2016

View previous DDTs »

WHAT'S NEW
CUS
:
Not 08 NT 22,23 Cir 06
ADD
:
Not 04 SG: 02 CVD 01
EX
:
Not 04 NT 03-02 Cir 1015
S.TAX
:
Not 1-3 Cir 190 Inst 
I-T
:
Not 03 Cir 24-25  
DGFT
:
Not 38 PN 60 Cir04
RBI
:
Cir 41-49    
BREAKING NEWS

Mumbai, February 10
ST - New entry of Mergers and Acquisitions (M&A) extends coverage of service tax and is not result of carving out new entry from Management Consultancy Service - ST is not payable on M & A Services prior to 16.7.2001 under category of 'Management Consultancy Service': CESTAT

Chennai, February 10
Customs - Goods imported against forged DEPB Licences purchased from open market - Appellant has not taken any precaution - Supreme Court decision in Aafloat Textiles followed - Hico Enterprises distinguished - Demand upheld: CESTAT

Mumbai, February 10
ST being destination based consumption tax, in case of exports there should not be any tax burden and tax burden, if any, is to be imposed by Govt. of country where services are consumed, otherwise, it would render exports of software uncompetitive - Refund admissible: CESTAT

Chennai, February 10
I-T - Whether when interest is paid to banks in India, payment made on foreign currency loan taken from foreign banks is exempt from provisions of Sec 194A - YES: ITAT

Chennai, February 10
CX - 100% EOUs are entitled to clear goods in DTA without payment of duty under Notification No 43/2001 CE(NT) - Revenue contention that Notification is not applicable to EOUs is not correct: CESTAT

MIXED BUZZ
TIOL E-lite
TIOL TUBE SNIPPETS
Replies to these questions can be found by clicking on the text of these questions.
THE COB (WEB)

Creation of TPRU & Tax Policy Council - Govt favours Generalists at cost of Specialists!

by SHAILENDRA KUMAR

Creation of TPRU & Tax Policy Council - Govt favours Generalists at cost of Specialists!
Published: February 04, 2016

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Substitute piecemeal approach with a composite one to fuel growthby TIOL EDIT TEAM

Revenue compulsions shouldn't muddy disinvestment & governance
Published: January 24, 2016

View previous Editorials»

ICE CUBES
by NARESH MINOCHA Ponder over Megatrends unleashed by PPP fad

Time for PM to Unveil Model Code of Governance
Published: January 31, 2016

View previous ICE CUBEs »

GUEST COLUMN

Rebate and Advance Authorization Scheme

Rebate and Advance Authorization Scheme
Published:
February 09, 2016
by RAJAT DOSI

View previous Guest Column(s);

ST se GST tak

Are original documents required to be filed for claiming refund?

Are original documents required to be filed for claiming refund?
Published:
February 08, 2016
by S SIVAKUMAR & R VAIDYANATHAN

View previous ST se GST tak(s)»

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

 
 
Download TIOL App
TIOL SEARCH
 
TIOL Subscriptions
 All-In-One Package
 Indirect Tax Package
 Income Tax Package
<< More Packages>>
 
   
HOME    BACK TO TOP   
             
Income Tax Customs Excise Service Tax FEMA DGFT SEZ Misc Pitara Budget
  • Notifications
  • Circulars
  • Instructions
  • SC Cases
  • HC Cases
  • ITAT Cases
  • Advance Ruling
  • Settlement
  • Other Cases
  • Directorate of Income Tax (Systems)
  • Tariff Notfn
  • CVD
  • Non Tariff Notfn
  • Circulars
  • Anti-dumping Notfn
  • Safeguard Duty Notfn
  • SC Cases
  • HC Cases
  • Cestat Cases
  • Advance Ruling
  • Settlement
  • Drawback Cases
  • MISC Circulars
  • Tariff Notfn
  • Non Tariff Notfn
  • Circulars
  • SC Cases
  • HC Cases
  • Cestat Cases
  • Advance Ruling
  • Clean Energy Cess Notfn
  • Excise Amendment
  • MISC Circulars
  • 37B Order
  • Commr.(A) Order
  • Settlement
  • Tribunal
  • Notifications
  • Circulars
  • SC Cases
  • HC Cases
  • Cestat Cases
  • Advance Ruling
  • FAQ
  • Finance Act, 1994
  • Commr. (A) Orders
  • 37B Order
  • Removal of Difficulty
  • VCES
  • Accounting Head
  • Miscellaneous
  • Exchange Manual
  • Fema Notifications
  • SC Cases
  • HC Cases
  • RBI Notifications
  • RBI Circulars
  • Act
  • Rules
  • Regulations
  • Master Circulars
  • PMLA Notifications
  • Depository Scheme
  • Press Note
  • Notifications
  • Circulars
  • Public Notices
  • Trade Notice
  • FTDR Amendment 2010
  • Notifications
  • Instructions
  • Act 2005
  • Rules 2006
  • DGEP
  • State Acts
  • State Policy
  • MISC
  • SC Cases
  • HC Cases
  • VAT Cases
  • Service News
  • Promotion
  • Transfer
  • Deputation Posts
  • Cadre Review
  • Transfer Policy
  • Training Circulars
  • Recruitment Rules
  • Pay Commission
  • Service Cases
  • The Insider
  • MISC
  • Budget Speeches
  • Union Budgets
  • Economic Surveys
  • TRU - D. O. Letter
  • Finance Acts
  • Finance Bill
  • Budget Circular
  • A Taxindiaonline Website. Copyright © 2015 Taxindiaonline.com Pvt.Ltd. All rights reserved. | Powered by 4th Dimension
    TIOLTube.com
    Subscribe TIOL Tube
    Legal Wrangle - Episode 36 (International Taxation & Income Tax)