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Friday , May 6, 2016 | Updated : May 6, 13:53 IST
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NEWS FLASH
 
Floor test in Uttarakhand Assembly on May 10th: Supreme Court Forecast for above Normal Monsoon Rainfall: IMD Finance Bill 2016 passed by Lok Sabha - No Rollback of Gold Excise (See 'DDT') CX - 'Sticks' and 'Pens' being secondary packing & containing commodities that are below threshold prescribed for compliance with SWAM PCR, 1977 are beyond ambit of Section 4A of CEA, 1944 - Adopting theory of consumer behavior is flawed reasoning - Revenue Appeal dismissed: CESTAT (See 'Breaking News') Govt is following approach of 'Reform to Transform' (See 'Mixed Buzz') ST - Appellant, Authorized Service Station is also engaged in trading activity of passenger cars - unless vehicles are received and sold, there would not be any servicing of same -no requirement to reverse Cenvat Credit attributable to trading activity: CESTAT (See 'Breaking News') Infrastructure Cess makes appearance in Export/Rebate notifications (See 'DDT') Govt decides to do away with Landing Certificates required under MEIS (See 'Breaking News') I-T - Whether it can be concluded that there is cessation of assessee's liability, merely on ground that creditor is unable to be traced - NO: HC (See 'Breaking News') CE duty - Notifications amended (See 'DDT') Import of Apples from USA - Undervaluation - Demand of duty by adopting price on basis of questionable parallel set of invoices, invoking Rule 8 of Customs Valuations Rules is unsustainable - CESTAT (See 'Breaking News') Amritsar Customs seizes 4 pistols and 7 magazines at ICP Attari from passengers coming from Pakistan Govt invokes rule 56(j); 33 tax officials compulsorily retired (See 'Mixed Buzz') Former CBDT Chairperson Anita Kapur appointed as Member of COMPAT (See 'Service News' in Pitara) Pragya S Saxena appointed as JS-I (FT&TR-I) (See 'Transfer' in Pitara) Govt amendments proposed for Finance Bill 2016 (See 'Finance Bill' in Budget) Lok Sabha gives green signal to much awaited Bankruptcy Code; one step closer to better debt resolution regime CBEC notifies new customs exchange rates effective from 6th May (See 'NT 64' in What's New) Rural employment & income affected due to natural calamities : Govt Speaker’s advise to Power Minister - Your replies should be short New train services from Agartala to Delhi, Kolkata later this month India expects 9 lakh SE Asian tourists this year India continues to maintain a high growth rate at 7.65 in 2015-16 compared to 7.2% in previous year: FM Reports of plastic rice imported from China, sale of synthetic milk: MPs seek stringent laws to check food adulteration Govt is following the approach of ‘Reform to Transform’ : Arun Jaitley Government refuses to roll back 1% excise duty on gold Magic Bricks, 99 acres, Housing.com and other online listing sites take sigh of relief; CCI says enough competition exists in real estate broking market (See '2016-TIOL-19-CCI') Tax Avoidance - Holding Cos as key aggregators of MNEs' foreign profits (See 'The Cob(Web) Column) Floor test in Uttarakhand Assembly on May 10th: Supreme Court Forecast for above Normal Monsoon Rainfall: IMD Finance Bill 2016 passed by Lok Sabha - No Rollback of Gold Excise (See 'DDT') CX - 'Sticks' and 'Pens' being secondary packing & containing commodities that are below threshold prescribed for compliance with SWAM PCR, 1977 are beyond ambit of Section 4A of CEA, 1944 - Adopting theory of consumer behavior is flawed reasoning - Revenue Appeal dismissed: CESTAT (See 'Breaking News') Govt is following approach of 'Reform to Transform' (See 'Mixed Buzz') ST - Appellant, Authorized Service Station is also engaged in trading activity of passenger cars - unless vehicles are received and sold, there would not be any servicing of same -no requirement to reverse Cenvat Credit attributable to trading activity: CESTAT (See 'Breaking News') Infrastructure Cess makes appearance in Export/Rebate notifications (See 'DDT') Govt decides to do away with Landing Certificates required under MEIS (See 'Breaking News') I-T - Whether it can be concluded that there is cessation of assessee's liability, merely on ground that creditor is unable to be traced - NO: HC (See 'Breaking News') CE duty - Notifications amended (See 'DDT') Import of Apples from USA - Undervaluation - Demand of duty by adopting price on basis of questionable parallel set of invoices, invoking Rule 8 of Customs Valuations Rules is unsustainable - CESTAT (See 'Breaking News') Amritsar Customs seizes 4 pistols and 7 magazines at ICP Attari from passengers coming from Pakistan Govt invokes rule 56(j); 33 tax officials compulsorily retired (See 'Mixed Buzz') Former CBDT Chairperson Anita Kapur appointed as Member of COMPAT (See 'Service News' in Pitara) Pragya S Saxena appointed as JS-I (FT&TR-I) (See 'Transfer' in Pitara) Govt amendments proposed for Finance Bill 2016 (See 'Finance Bill' in Budget) Lok Sabha gives green signal to much awaited Bankruptcy Code; one step closer to better debt resolution regime CBEC notifies new customs exchange rates effective from 6th May (See 'NT 64' in What's New) Rural employment & income affected due to natural calamities : Govt Speaker’s advise to Power Minister - Your replies should be short New train services from Agartala to Delhi, Kolkata later this month India expects 9 lakh SE Asian tourists this year India continues to maintain a high growth rate at 7.65 in 2015-16 compared to 7.2% in previous year: FM Reports of plastic rice imported from China, sale of synthetic milk: MPs seek stringent laws to check food adulteration Govt is following the approach of ‘Reform to Transform’ : Arun Jaitley Government refuses to roll back 1% excise duty on gold Magic Bricks, 99 acres, Housing.com and other online listing sites take sigh of relief; CCI says enough competition exists in real estate broking market (See '2016-TIOL-19-CCI') Tax Avoidance - Holding Cos as key aggregators of MNEs' foreign profits (See 'The Cob(Web) Column)
 
   
E-LITE BUDGET EDITION
DDT (Daily Dose of Taxation)

Finance Bill 2016 passed by Lok Sabha - No Rollback of Gold Excise

With VIJAY KUMAR

Finance Bill 2016 passed by Lok Sabha - No Rollback of Gold Excise
Published: May 06, 2016

View previous DDTs »

WHAT'S NEW
CUS
:
Not 30-32 NT 64 Cir 15
ADD
:
Not 16 SG: 01 CVD 01
EX
:
Not 20-22 NT 25-26 Cir 1028
S.TAX
:
Not 22-24 Cir 192  
I-T
:
Not 24 Cir 09-11  
DGFT
:
Not 06 PN 06,07 Cir04
RBI
:
Cir 67    
BREAKING NEWS

Mumbai, May 06
CX - 'Sticks' and 'Pens' being secondary packing & containing commodities that are below threshold prescribed for compliance with SWAM PCR, 1977 are beyond ambit of Section 4A of CEA, 1944 - Adopting theory of consumer behavior is flawed reasoning - Revenue Appeal dismissed: CESTAT

Mumbai, May 06
ST - Appellant, Authorized Service Station is also engaged in trading activity of passenger cars - unless vehicles are received and sold, there would not be any servicing of same -no requirement to reverse Cenvat Credit attributable to trading activity: CESTAT

Bangalore, May 06
I-T - Whether it can be concluded that there is cessation of assessee's liability, merely on ground that creditor is unable to be traced - NO: HC

Chennai, May 06
Import of Apples from USA - Undervaluation - Demand of duty by adopting price on basis of questionable parallel set of invoices, invoking Rule 8 of Customs Valuations Rules is unsustainable - CESTAT

Mumbai, May 06
ST - Rule 5 of CCR, 2004 - refund filed for quarter October to December 2009 sanctioned and later for same period another claim filed for additional amount - Notif. No. 5/2006-CE (NT) in clause (2) prohibits filing of more than one refund claim for any quarter in a calendar year: CESTAT

MIXED BUZZ

TIOL E-lite Update

 

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

Tax Avoidance - Holding Cos as key aggregators of MNEs' foreign profits

by SHAILENDRA KUMAR

Tax Avoidance - Holding Cos as key aggregators of MNEs' foreign profits
Published: May 05, 2016

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Panama Papers give timely stimulus to global tax cooperationby TIOL EDIT TEAM

Panama Papers give timely stimulus to global tax cooperation
Published: April 20, 2016

View previous Editorials»

ICE CUBES
by NARESH MINOCHA Fix accountability of both Political Executive & Civil Services

Fix accountability of both Political Executive & Civil Services
Published: April 30, 2016

View previous ICE CUBEs »

GUEST COLUMN

Constitution of CESTAT benches by its Member (J) - Is it Legal?By P R CHANDRASEKHARAN

Constitution of CESTAT benches by its Member (J) - Is it Legal?
Published: May 04, 2016

View previous Guest Column(s) »

ST se GST tak
Rule 6 (3) of CCR, 2004 - A pricier option?By PRITAM MAHURE

Rule 6 (3) of CCR, 2004 - A pricier option?
Published: May 03, 2016

View previous All ST se GST tak(s) »

View previous All New Law +VE or -VE »

 
 
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    Legal Wrangle - Episode 39 (International & Direct Tax)