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ST - Amendment made to FA, 1994 on 14.05.2015 making service tax applicable retrospectively on chit-fund business is only prospective - Refund payable of tax paid between 01.07.2012 to 13.05.2015: HCST - SVLDRS, 2019 - Amnesty Scheme, being of the nature of an exemption from the requirement to pay the actual tax due to the government, have to be considered strictly in favour of the revenue: HCCX - Issue involved is valuation of goods u/r 10A of CE Valuation Rules, 2000 - Appeal lies before Supreme Court: HCCus - Smuggling - A person carrying any article on his belonging would be presumed to be aware of the contents of the articles being carried by him: HCCus - Penalty that could be imposed for smuggling 3.2 kg of gold was Rs.88.40 lakhs, being the value of gold, but what is imposed is Rs.10 lakhs - Penalty not at all disproportionate: HCCus - Keeping in mind the balance of convenience and irreparable injury which may be caused to Revenue, importer to continue indemnity bond of 115 crore and possession of confiscated diamonds to remain with department: HCCus - OIA was passed in October 2022 remanding the matter to adjudicating authority but matter not yet disposed of - Six weeks' time granted to dispose proceedings: HCI-T - High Court need not intervene in matter involving factual issues; petitioner may utilise option of appeal: HCChina asks Blinken to select between cooperation or confrontationI-T - Unexplained cash credit - additions u/s 68 unsustainable where based on conjecture & surmise alone: ITATHonda to set up USD 11 bn EV plant in CanadaI-T - Re-assessment is invalid where based only on a suspicion that income escaped assessment & where not based on concrete reasons to believe for commencing such proceedings : ITATImran Khan banned from flaying State InstitutionsI-T - Income from sale of flats cannot be computed in assessee's hands, where legal possession of flats had not been handed over to buyers in that particular AY: ITATPro-Palestine demonstration spreads across US universities; 100 arrestedI-T - Investment activities in venture capital which are not covered in negative list under Schedule III to SEBI Regulations, qualifies for deduction u/s 10(23FB): ITATNATO asks China to stop backing Russia if keen to forge close ties with WestCus - When Department has not complied with time limit, the order issued for revocation of licence or order issued for continuation of suspension licence cannot sustain: CESTATNY top court quashes conviction of Harvey Weinstein in rape caseWeather prediction normal for phase 2 poll dayIndiGo orders 30 Airbus A350s for long haulsST - Appellant is an 'authorised medical practitioner' providing 'healthcare services' - services exempted in terms of clause 2(i) of notification 25/2012-ST: Commr(A)RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimesREC avails SACE-Covered Green Loan for 60.5 Billion Japanese YenStudy finds Coca-Cola accounts for 11% of branded plastic pollution worldwideCus - 'Small Form-factor Pluggable Optical Transceivers' are classifiable under CTH 8517 7090 and not under CTH 8517 62 90 - entitled for benefit of duty concession under 57/2017-Cus: CESTATDoNER discusses Development of Tourism in North EastCX - Appellant is eligible for exemption under Notfn 12/2012-CE upon fulfilling all conditions stipulated therein, thus sufficiently establishing that goods dealt with by Appellants qualify for exemption: CESTAT
 
Expert Panel on Holistic Tax Initiatives submits DRISHTI Report to FM

By TIOL News Service

NEW DELHI, OCT 21, 2014: THE Expert Committee today submitted its Report on 'DRISHTI' (Driving Information System for Holistic Tax Initiatives) to the Finance Minister, Mr Arun Jaitley. The Report, after examining the existing business processes and the current status of IT Systems in CBEC, has highlighted the areas for improvement. The recommendations of the Committee aim at leveraging IT for improving the quality and extent of taxpayer services, encouraging voluntary tax compliance and detecting tax evasion.

The Centre had constituted a High Powered Committee (HPC) on “DRISHTI” in February 2014. The Committee was headed by Mr T.V. Mohandas Pai, Chairman, Manipal Global Education and consisting of eminent persons from the private sector having in depth domain knowledge as well as senior officers from the Department of Revenue.

The Strategic Recommendations of the Committee include the following:

1. Creation of National Taxpayer Services Directorate, National Assessment Centre for Customs & National Processing Centre for Central Excise & Service Tax Returns, National Targeting Centre & Directorate of International Customs

2. Setting up of specialised function-based units for Data Analytics & Business Intelligence, Tax Dispute Resolution and Litigation, BPR, etc

3. Leveraging Service Oriented Architecture for IT Applications

4. Merging different Customs IT Applications into a Single System

5. Enabling Mobility solutions in Business Workflows

6. Introduction of Entity-based Risk Management System

7. Introduction of IT Centric HR Policy

The Committee also examined the suitable options for an appropriate IT Governance Model for CBEC. The recommendations have been classified as Short (upto 2 years), Medium (2 to 4 years) and Long Term (4 to 6 years). The Committee has also suggested steps for overseeing the implementation of the above Recommendations.


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