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Saturday , October 25, 2014 | Updated : Oct 25, 20:45 IST
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NEWS FLASH
 
EC announces five-phase polls in Jharkhand + J & K from Nov 25 to Dec 20 Govt okays defence projects worth Rs 80,000 Crore Companies Act amended to accommodate contribution to Swachch Bharat Kosh & Clean Ganga Fund set up by Central Govt (See Notification in 'TIOL Library') VAT - Whether if buyer pays catalogue price less transport rebate allowed, irrespective of sum paid for freight charges, fluctuation in freight charges do affect consideration payable by buyer: SC (See '2014-TIOL-88') Govt sets up Think Tank to Draft New IPR Policy; Justice Prabha Sridevan appointed as Chairperson (See 'Breaking News') CENVAT - Duty paid SIM cards returned as defective and appellant taking credit & later, after rectification, clearing same on payment of duty - prima facie credit taken correctly - Pre-deposit waived and stay granted: CESTAT (See 'Breaking News') Budget session of Telangana Assembly from Nov 5 (See 'Mixed Buzz') CBEC notifies New Review Committee of CCs for Customs cases (See Circular in 'What's New') Whether reference u/s 142A is not allowed after assessment or re-assessment: ITAT (See '2014-TIOL-765') Appointment of Chief Information Commissioner in Central Information Commission (See 'Service News' in Pitara) 20 FDI proposals worth Rs 988 Crore approved; Sistema Shyam proposal rejected (See 'What's New') Food Minister urges FM to hike import duty on edible oils Impact of natural disaster hitting some parts of India - CBEC extends ST-3 last date to Nov 14 (See 'Order' in 'What's New') ST - Payment of overriding commission to appellant for promoting sale of goods of manufacturers by making available marketing network & adding brand value to products to attract customers - appellant to pay ST under BAS - demand and penalty upheld: CESTAT (See 'Breaking News') Central Excise - Valuation - Promotional discount paid from dealer's margin whether includible in assessable value - Maruti ordered to pre-deposit Rs 150 Crores: CESTAT (See 'Breaking News') CX - Valuation - Maruti case Ė Another Fiat in the making? (See 'DDT') Income tax - Whether sale of immovable property through medium of MoU falls within meaning of transfer as per Sec 2(47) - YES: HC (See 'Breaking News') Six Months time for taking CENVAT Credit - Applicable for invoices issued prior to 31.08.2014? (See 'DDT') Service Tax - Appeals - Pre-deposit of† Rs. 20 Crore ordered by Tribunal on Agency of State, waived: High Court (See 'Breaking News') Is Rule 14 ultra vires Central Excise Act? (See 'ST se GST tak') Why People donít pay taxes? (See 'DDT' Column) CX - Commissioner has no jurisdiction to reallocate CENVAT distributed by ISD - assessee is not entitled to take credit on services mentioned in rule 6(5) which is attributable to trading as during material period it was neither taxable nor exempted: CESTAT (See 'Breaking News') I-T - Whether commission paid to foreign agent for liaisoning and monitoring work outside India would be allowed deduction u/s 35: HC (See '2014-TIOL-1851') Growing use of armed drones in domestic jurisdiction may violate rights of citizens: UN Experts (See 'Mixed Buzz') CX - Commissioner has no jurisdiction to reallocate CENVAT distributed by ISD - assessee is not entitled to take credit on services mentioned in rule 6(5) which is attributable to trading as during material period it was neither taxable nor exempted: CESTAT (See 'Breaking News') I-T - Whether commission paid to foreign agent for liaisoning and monitoring work outside India would be allowed deduction u/s 35: HC (See '2014-TIOL-1851') Growing use of armed drones in domestic jurisdiction may violate rights of citizens: UN Experts (See 'Mixed Buzz') Diwali celebrations in Srinagar: PM announces Rs 745 Cr relief package for J&K India to sign MoU in Beijing as founding member of Asia Infrastructure Investment Bank PM flays attack on Canadian Parliament Rising NPAs - Fault lies with our lax Regulator! (See 'The Cob (Web)' Column) Income tax - Whether any adjustment to value of property as on 01.04.1981 can be made based on the DVO's Report of 2012 - NO: ITAT (See '2014-TIOL-760')
 
   
DDT (Daily Dose of Taxation)

Customs - LNG imported for Generation of Electricity - Time limit to produce certificate extended

With VIJAY KUMAR

CE Valuation - Maruti directed to pay Rs. 150 Crores pre-deposit - Another Fiat in making?
Published: October 24, 2014

View previous DDTs »

WHAT'S NEW
CUS
:
Not 30 NT 98 Cir 10
ADD
:
43 Inst: 08 SG: 03
EX
:
Not 08-20 NT 31 Cir 988
S.TAX
:
Not 20-22 Cir 180 Order
I-T
:
Not 48 Cir 15 Press Note
DGFT
:
Not 95 PN 71 Cir 13
RBI
:
Cir 36    
BREAKING NEWS

New Delhi, October 25
Govt sets up Think-Tank to draft New IPR Policy; Justice Prabha Sridevan appointed as Chairperson

Mumbai, October 25
CENVAT - Duty paid SIM cards returned as defective and appellant taking credit & later, after rectification, clearing same on payment of duty - prima facie credit taken correctly - Pre-deposit waived and stay granted: CESTAT

Mumbai, October 24
ST - Payment of overriding commission to appellant for promoting sale of goods by providing marketing network & adding brand value to products to attract customers - appellant to pay ST under BAS - demand & penalty upheld: CESTAT

New Delhi, October 24
CX - Valuation - Promotional discount paid from dealer's margin whether includible in assessable value - Maruti ordered to pre-deposit Rs 150 Cr: CESTAT

Hyderabad, October 24
Income tax - Whether sale of immovable property through medium of MoU falls within meaning of transfer as per Sec 2(47) - YES: HC

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

In case of reassessment u/s 148/ 143(3) whether interest u/s 234B(1) is to be levied on originally assessed income or on income assessed u/s 147/143(3).

Published: October 20, 2014

Post Answer »
THE COB (WEB)
Rising NPAs - Fault lies with our lax Regulator!by SHAILENDRA KUMAR

Rising NPAs - Fault lies with our lax Regulator!
Published: October 23, 2014

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Align Budget for 2015-16 with BJP's Electoral Promises by TIOL EDIT TEAM

Align Budget for 2015-16 with BJP's Electoral Promises
Published: October 15, 2014

View previous Editorials»

ICE CUBES
by NARESH MINOCHA Kejriwal has last laugh in murky politics of gas pricing & imports

Kejriwal has last laugh in murky politics of gas pricing & imports
Published: October 21, 2014

View previous ICE CUBEs »

GUEST COLUMN

Reforms in IT Settlement Commission Recruitment Rules neededby PAVAN VED

Reforms in I-T Settlement Commission Recruitment Rules needed
Published: October 22, 2014

View previous Guest Column(s);

ST se GST tak

Is Rule 14 ultra vires the Central Excise Act?by PREM KUMAR FRANCIS

Is Rule 14 ultra vires the Central Excise Act?
Published: October 24, 2014

View previous ST se GST tak(s)»

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

 
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