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GST - Appellate Authority has not noticed the provisions of Section 12 of the Limitation Act, 1963 which mandates that the day on which the judgment complained of was pronounced, is also to be excluded: HCGST - If the Proper Officer was of the view that the reply filed was insufficient, he could have sought more clarification - Without providing any such opportunity, impugned order could not have been passed - Matter remanded: HCGST - Notice requiring petitioner to furnish additional information/clarification does not mention that petitioner had to appear for personal hearing - Since no opportunity of personal hearing was given, order is unsustainable: HCGST - For the purposes of DNB and FNB courses, petitioner clearly falls within the scope of an educational institution imparting education to students enrolled with it as a part of a curriculum - Services exempted: HCGST - Candidates appearing for the screening tests are not students of the petitioner - Petitioner's claim of exemption on such examination fees is unmerited: HCGST - NEET examinations are in the nature of an entrance examination - Petitioner would be entitled to the benefit of an exemption by virtue of Serial No.66(aa) of the 2017 Notification, which came into effect on 25.01.2018: HCBrisk voting reported from all 96 LS seats; PM casts vote in AhmedabadIndia calls back half of troops stationed at MaldivesIndia-Australia DTAA: Economic Statecraft through TaxRBI alerts against misuse of banking channels for facilitating illegal forex tradingTime Limit to file Appeal in GST Appellate TribunalEC censures Jagan Reddy & Chandrababu Naidu for MCC violationsI-T-Interest income earned by a co-operative society on its investments held with a cooperative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act: ITATFrance tells Xi Jinping EU needs protection from China’s cheap importsI-T- Addition cannot be made merely for reason that assessee got property transferred through registered sale without making payment to vendor: ITATUK military personnel’s data hackedI-T- Addition which is not based on the reasons for reopening is un-sustainable sans notice u/s 148 of the ACT: ITATOxygen valve malfunction delays launch of Boeing’s first crewed spacecraftI-T- Re-assessment need not be resorted to, where no income has escaped assessment or where no evidence is put forth to establish escapement of income: ITATPulitzer prize goes to Reuters & NYTFM administers Oath to Justice Sanjaya Kumar Mishra as first President of GST TribunalDutch, Belgian students join Gaza sit-ins by US Univ studentsI-T- Penalty imposed u/s 271(1)(c) are not sustainable where additions based on which penalty was imposed, are themselves set aside : ITATGhana agrees to activate UPI links in 6 monthsECI calls for ethical use of social media platforms by political partiesCus - Technological innovation and advancements would result in obsolescence of raw materials imported duty free - Destruction of such imports allowed after intimation to Customs authority: CESTATED seizes about 20 kg gold from locker of a cyber scammer in HaryanaMinistry of Tourism participates in Arabian Travel Mart 2024 in DubaiST - No evidence has been adduced to negate the specific findings of adjudicating authority holding that the service tax on all these expenses, by including same in gross transaction value has been discharged by assessee: CESTATICG detains Iranian boat, with six Indians onboard, off Kerala coastCX - As assessee is able to prove that all the items in question have been used in fabrication of structures for installation of capital goods which were ultimately used in manufacture of their final product, CENVAT Credit is allowed to assessee: CESTAT
 
India's exports continues to be positive but trade deficit further widens

By TIOL News Service

NEW DELHI, AUG 15, 2017: AS per the latest data, India's net export of Services in June was USD 5931 million. But the trade deficit for July is about USD 11450 mn. The overall trade deficit for April-July 2017 is about USD 34073 mn.

The data also reveals that the merchandise exports continues to be positive as it recorded about 4% growth in the month of July. In Rupee terms, during July 2017 exports were valued at Rs. 145308.10 crore as compared to Rs.145770.39 crore during July,2016, registering a negative growth of 0.32 per cent.

During July 2017, Major commodity groups of export showing positive growth over the corresponding month of last year are Engineering Goods (15.16%), Petroleum Products (20.27%), Organic & Inorganic Chemicals (20.67%), Cotton Yarn/Fabs./made-ups, Handloom Products etc.( 5.39%) and Marine Products(30.53%)

Cumulative value of exports for the period April-July 2017-18 was US $ 94756.13 million (Rs 610780.14 crore) as against US $ 87001.34 million (Rs 582731.37 crore) registering a positive growth of 8.91 per cent in Dollar terms and 4.81 per cent in Rupee terms over the same period last year.

Non-petroleum and Non Gems & Jewellery exports in July 2017 were valued at US$ 22543.80 million against US$ 21689.57 million in July 2016, an increase of 6.93%. Non-petroleum and Non Gems and Jewellery exports during April -July 2017-18 were valued at US$ 94756.13 million as compared to US$ 87001.34 million for the corresponding period in 2016-17, an increase of 9.05%.

Imports during July 2017 were valued at US$ 33993.61 million (Rs 219108.89 crore) which was 15.42 per cent higher in Dollar terms and 10.70 per cent higher in Rupee terms over the level of imports valued at US$ 29450.97 million (Rs. 197932.93 crore) in July, 2016. Cumulative value of imports for the period April-July 2017-18 was US$ 146256.71 million (Rs. 942740.00 crore) as against US$ 113996.75 million (Rs. 763687.22 crore) registering a positive growth of 28.30 per cent in Dollar terms and 23.45 per cent in Rupee terms over the same period last year.

Major commodity group of imports showing high growth in July 2017 over the corresponding month of last year are Petroleum, Crude & products (15.02%), Electronic goods (22.5%), Machinery, electrical & non-electrical (7.34%), Pearls, precious & Semi-precious stones (6.86%) and Gold (95.05%).


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