Ministry of Environment grants permission to GSI for exploratory bore holes drilling in protected forests
DTC Bill 2010 - IRS Cadre can heave long sigh of relief; Controversial Section 127 designed to cut CBDT down to size dropped (See 'The Cob(Web) Column)
FM asks CBDT, CBEC to wrap up AGTs by April; set up panel for litigation management and common risk management institution (See 'Breaking News')
Major fire destroys sensitive records in DRI Hqs 'Source Room' where electronic interception takes place; Source of fire not yet traced
I-T - Condonation of delay in filing appeal - Section 73 - Whether loss arising from trading in respect of shares of Pvt Ltd companies allowable to assessee (See '2010-TIOL-474-ITAT-MUM')
Both Houses of Parliament pass 24 Bills during Monsoon Session (See 'Breaking News')
It is official now - GST to miss April 1, 2011 deadline: FM (See 'Mixed Buzz')
ST - Export of Technical & Testing Analysis Service - Export benefit denied on ground that no part of service performed outside India - When reports of testing delivered to clients outside India, it amounts to part performance of service outside India (See '2010-TIOL-1134-Cestat-AHM')
Uday Kumar Varma, IAS, 1976 Batch (MP Cadre) takes over as new MSME Secretary
CBEC issues transfer order of 5 Addl / JCs + 7 AC/DCs (See Orders in 'Pitara')
Export of Sugar: Alert sounded against fraudulent export under Advance Authorisation Scheme (See Cir 32 in 'What's New')
I-T - Whether AO was justified to reject books u/s 145 without invoking power u/s 131 to issue summons to parties for clarification and when there is no defect pointed out by AO in such accounts (See '2010-TIOL-472-ITAT-Mum')
Committee on Piracy submits Report; calls for various preventive policy measures (See 'Mixed Buzz')
I-T - Depreciation u/s 32 - Routers and switches are 'computers', entitled to 60% depreciation rate: ITAT (See 'Breaking News' + '2010-TIOL-473-ITAT-MUM')
Race for CBEC Chairman's Seat - The beguile is Set (See 'DDT' Column)
Central Excise - Departmental appeal to Tribunal - Review by Committee of Chief Commissioners - Tribunal has power to condone delay in filing appeal : CESTAT Larger Bench (See 'Breaking News' + '2010-TIOL-1113-Cestat-Del-LB')
DTC Bill enlarges ambit of Advance Ruling Authority; Only Chief Commissioner-level officers to be appointed as Member (Revenue) (See 'Breaking News')
Service Tax - Construction of Driveway in Petrol Pump - If contract recognizes two activities as separate activities, even though construction of road is in connection with commercial complex, benefit of exclusion of road has to be allowed: CESTAT (See 'Breaking News' + '2010-TIOL-1132-Cestat-AHM')
Works Contract - Can it be vivisected for imposing Service Tax? (See 'ST se GST Tak' Column)
I-T - Ss 80HHC, 115JB - Whether where gross total income of assessee is nil deduction u/s 80HHC is not allowable and book profit has to be determined without considering deduction u/s 80HHC (See '2010-TIOL-471-ITAT-Mum')
DTC Bill -Companies have little to cheer about! (See 'Special Column')
2.4 mn people are victims of human trafficking: UN (See 'Mixed Buzz')
Selection of CBEC, CBDT Members: Panel comprising of Revenue Secretary and both Chairmen set up to dispose of all representations filed by applicants
India's GSP registers 8.8% growth rate in Q1 (See 'Mixed Buzz')
Income Tax - Whether Sec 143 (2) is mandatory and non-issuance of notice shall vitiate the assessment: HC (See '2010-TIOL-605-HC-ALL-IT')
Kolkata DRI seizes about 3200 kg cannabis (See 'Mixed Buzz')
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|  THE COB(WEB) by Shailendra Kumar THE implementation of the DTC Bill 2010 has delayed by a year. Was there any palpably logical force to do it? Was the reason so substantive that it went against the announcement made by FM. Let's now move to the real content of the Bill. Netizens may recall some of our headlines which TIOL had carried as part of its detailed post-mortem of the original DTC Bill in August, 2009. Let's begin with the first headline - ''New Direct Taxes Code: Is CBDT going to be a low-profile Agency outside Central Govt? Is IRS going to be cut down to size?.'' ... Read Column All Cob (Web)s |
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EDITORIAL
 THE Comptroller and Auditor General (CAG) has done a good job by drawing valuable lessons from the chaotic implementation of value-added tax (VAT) in the States in 2005.Lessons and recommendations mentioned by CAG in its VAT implementation study should form an integral part of the road-map for roll-out of goods and service tax (GST). What is most refreshing is the fact that CAG on its own undertook the study solely with the objective of drawing lessons for proposed switchover by States from VAT to SGST and by the Centre from CENVAT and service tax to CGST.The study is compilation of the findings of ... Read Column All Editorials | | DDT with Vijay Kumar
 THE CBEC is not able to fill up the large number of vacant posts from AC to CC, much to the agony and anguish of the field level officers, many of whom are afraid that they will have to retire without seeing that coveted promotion and are using the choicest expletives to curse the powers that be ... Read Column All DDTs | |
ST se GST tak By Abhijit Saha
 AN interesting development has taken place in respect of the applicability of service tax on works contract prior to 1 st June 2007. The Larger Bench of the Tribunal in the case of CCE, Raipur Vs M/s BSBK Pvt. Ltd. has held that prior to 1/6/2007 a turnkey contract can be vivisected and a works contract can be taxed based upon the activity involved or cluster of activities in the nature of service. Such discernible services may be classified ... Read Column All ST se GST taks | | THE ICE CUBES By Naresh Minocha
 THE Government is getting fresh wake-up calls from different quarters on the grave issue of providing affordable medicines to the public. The Government ought not to dither more on the draft National Pharmaceuticals Policy ... Read Column All Ice Cubes |
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GUEST COLUMN
By Amitesh Bharat Singh
 THERE has been a fair amount of discussion and debate on the matter of interpreting the clauses defining the tax on ‘goods transport agent' (GTA), especially with regard to the fact that whenever the services of goods transport by road has been provided by individual truck owner or truck operator to specified persons (listed in Rule 2 (i) (d) (v) of the Service Tax Rules 1994), whether such tax is payable or not.One school of thought strongly argues and definitively holds ... Read Column All Guest Columns | | SPECIAL COLUMN
By S Sivakumar
 THE Finance Minister has shown his large heart by reducing the tax rates for individuals. However, in so far as the corporates are concerned, the DTC Bill disappoints. The corporate tax rate has been pegged at 30%, as against the earlier expectation ... Read Column All Special Columns |
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DTC BILL, 2010 
