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Cus - Old & Used Propping pipes used for construction service are to be treated as capital goods and as per para 2.17 of FTP second hand capital goods are freely importable: CESTAT (See 'Breaking News') Retrospective Amendment of 2012 - CBDT Constitutes High Level Committee (See 'DDT' Column) We would expect Tribunal, which is manned by both judicial & technical experts, to be aware of seriousness of adjudication and not take up assignment casually - undue haste is not at all called for as it results in miscarriage of justice: HC (See 'Breaking News') Amendment to Sec. 67A - Service tax on foreign currency payments (See 'ST se GST tak' Column) I-T - Whether when first appellate authority has directed AO to pass speaking order before charging interest, such an order can be construed as restrictions being imposed on AO from levying interest under particular Section - NO: Delhi HC (See 'Breaking News') Constitution of Review Committee of Chief Commissioners/Commissioners - CBEC Orders (See 'DDT') CX - Benefit of exemption under Notification No 4/2006 is prima facie not admissible for cement used for construction work within factory premises - CESTAT orders pre deposit (See 'Breaking News') There is no specific target to be achieved - undue haste is not at all called for + Abhishek Verma Nominated for Arjuna Award-2014 for Archery (See 'DDT') PM launches Jan Dhan Scheme to eradicate financial untouchability Govt imposes 20% Safeguard Duty on import of Saturated Fatty Alcohols (See 'SG' in What's New) ACC extends tenure of M N Prasad, Executive Director, World Bank till October-end EPFO mulling Rs 1000 pension scheme from Sept 1, 2014 Black Money - Policy needed to dent into 'Tiny Machines' of tax evasion (See 'THE COB (WEB)' Column) Service Tax - so long as activity is service and even if it is not taxable, it has to be considered as an exempted service - it is not necessary that service should be taxable and an exemption notification exempting from levy of service should have been issued: CESTAT (See 'Breaking News') Service Tax Certificate Issued by Railways to be a valid document for taking credit (See 'DDT' Column) Income tax - Whether registration to a Trust u/s 12AA can be refused merely because it earned some income from housing projects but applied the same towards charitable objectives - NO: HC (See 'Breaking News') Appointment of Ministers with Criminal Record Supreme Court not to interfere Leaves it to Prime Minister (See 'DDT') CENVAT If any goods are transported through pipeline or by other means, if they are not solid, there is every chance of loss of quantity by way of evaporation CENVAT credit cannot, therefore, be denied on quantity involved in transit loss: CESTAT (See 'Breaking News') INTERPOL appoints Shah Rukh Khan as Turn Back Crime Ambassador PM sets up Committee to identify defunct laws within three months CENVAT Credit Rules amended relating to service tax certificate for Transportation of goods by Rail (See 'EX NT' in What's New) SC goes with Competition Commission on issue of Rs 630 Cr penalty imposed on DLF SC in favour of PM & CMs not providing place to tainted Ministers in Council of Ministers Cellular Mobile Service provider is not entitled to avail CENVAT credit on Tower Parts & Pre-fabricated buildings: High Court (See 'Breaking News') Customs - Valuation - Proof of imports of identical goods at higher value not given to appellant - Assessment Order set aside; however SCN survives: SC (See 'Breaking News') Service Tax - Board and CCs authorized to issue instructions - Is Principal CC covered?(See 'DDT' Column) ST - Support services provided to run business of clients by aiding them in marketing, in obtaining loans from FIs, training of their personnel do not fall within category of 'Consultancy Service' let alone 'Management Consultancy Service' - Appeal allowed: CESTAT (See 'Breaking News') Passing of Review orders by Committee of CCs - Extension of limitation period (See 'Guest' Column) Income tax - Whether provisions of Sec 41(1) come into play only when there is cessation of a liability - YES: ITAT (See 'Breaking News') 8.75% interest rate for PF Deposits for current fiscal recommended (See 'Mixed buzz') Service Tax - Legislative changes to be effective from 1st October (See 'DDT') CX - Refund - Payment deduced by client for failing to supply specified quantity of goods during specified period - whatever amount appellant had received less from buyer they are entitled to take refund of duty component involved in deducted amount: CESTAT (See 'Breaking News') North Block orders forensic audit of Kolkata-based UCO Bank books FM calls for expansion of capital base of ADB to sustain key role in development financing CBI traps Chennai ROC Registrar accepting Rs 10 lakh bribe Misuse of CENVAT Credit Rule 12AAA of CCR, 2004 amended to include provider of Taxable service (See Notification 25 in 'What's New) ST on Radio Taxi services, Ads in internet websites & on film screen in theatres to be effective from Oct 1, 2014 + STR, 1994 amended w.e.f 1.10.2014 new rules 11 & 12 inserted to provide for determination of Rate of exchange & Power to issue supplementary instructions (See Notification in 'What's New)
 
   
DDT (Daily Dose of Taxation)

Retrospective Amendment of 2012 - CBDT Constitutes High Level Committee

With VIJAY KUMAR

Retrospective Amendment of 2012 - CBDT Constitutes High Level Committee
Published: August 29, 2014

View previous DDTs »

WHAT'S NEW
CUS
:
Not 26 NT 72 Cir 09
ADD
:
39 Inst: 08 SG: 03
EX
:
Not 08-20 NT 26 Cir 983
S.TAX
:
Not 18-19 Order Cir 178
I-T
:
Not 33 Cir 12-13 Inst 11
DGFT
:
Not 90,91 PN 68 Cir 13
RBI
:
Cir 22    
BREAKING NEWS

Mumbai, August 29
We would expect Tribunal, which is manned by both judicial & technical experts, to be aware of seriousness of adjudication and not take up assignment casually - undue haste is not at all called for as it results in miscarriage of justice: HC

New Delhi, August 29
I-T - Whether when first appellate authority has directed AO to pass speaking order before charging interest, such an order can be construed as restrictions being imposed on AO from levying interest under particular Section - NO: HC

Mumbai, August 29
Cus - Old & Used Propping pipes used for construction service are to be treated as capital goods and as per para 2.17 of FTP second hand capital goods are freely importable: CESTAT

Chennai, August 29
CX - Benefit of exemption under Notification No 4/2006 is prima facie not admissible for cement used for construction work within factory premises - CESTAT orders pre deposit

Bangalore, August 28
ST - so long as activity is service & even if it is not taxable, it has to be considered as exempted service - it is not necessary that service should be taxable & exemption notification should have been issued: CESTAT

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

Trust X receives corpus donation & donates same as it is to trust Y, violating directions of donors. Whether this makes donation received by X taxable or whether on this ground registration of X can be cancelled.

Published: August 25, 2014

Post Answer »
THE COB (WEB)
Black Money - Policy needed to dent into 'Tiny Machines' of tax evasionby SHAILENDRA KUMAR

Black Money - Policy needed to dent into 'Tiny Machines' of tax evasion
Published: August 28, 2014

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Safeguarding oil & gas revenueby TIOL EDIT TEAM

Safeguarding oil & gas revenue

Published: August 24, 2014

View previous Editorials»

ICE CUBES
by NARESH MINOCHA  Mr Modi, don't go the Abhimanyu way; shear UPA's chains to untie growth genie

Mr Modi, don't go the Abhimanyu way; shear UPA's chains to untie growth genie
Published: August 18, 2014

View previous ICE CUBEs »

GUEST COLUMN

Passing of Review orders by Committee of CCs  Extension of limitation period by S J SINGH

Passing of Review orders by Committee of CCs - Extension of limitation period
Published: August 27, 2014

View previous Guest Column(s);

ST se GST tak

Amendment to Sec. 67A - Service tax on foreign currency payments by KANAGARAJ R

Amendment to Sec. 67A - Service tax on foreign currency payments
Published: August 29, 2014

View previous ST se GST tak(s)»

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

 
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