News Update

CBIC revises tariff value of edible oils, gold & silverFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCentre receives Rs 18.5 lakh crore tax revenue upto Feb monthUN says Households waste across world is now at least one billion meals a dayExpert Committee on developing GIFT IFSC as 'Global Finance and Accounting Hub' submits report to IFSCAIndia, China hold fresh dialogue for complete disengagement on Western borders: MEADefence Production issues notification for re-organisation of DGQAThakur says India is prepared for 2036 OlympicsCBDT substitutes Form in ITR-5EV Revolution: Lessons for India to learn from US and China!London court green-signals auction of luxury apartment of fugitive Nirav ModiGovt consults RBI; finalises borrowing plan for first half of FY 2024-25Gadkari says Farmers’ protest is politically-motivatedVP calls upon women entrepreneurs to be 'Vocal for Local'America offers USD 10 mn bounty for information on ‘Blackcat’ hackers after UnitedHealth gets hitI-T- The order of the ITSC can only be reopened in cases of fraud or misrepresentation: HC8 persons including Hezbollah militants killed in Israeli strike on LebanonMacron pillories EU-South Africa trade deal; calls it ‘really bad’ in BrazilThailand’s Lower House okays Bill to legitimise same-sex marriageYellen warns China against clean energy dumpingMilky Way’s central black hole - Twisted magnetic field observedCus - Assessee has not proved beyond reasonable doubt that goods in question imported under air way bills/bills of entry were in fact filed by him and hence the only natural corollary available to Revenue is confiscation of same: CESTATSmall investors help Trump Media’s valuation skyrocket to USD 13 billionJustice Ritu Raj Awasthi joins as Judicial member of Lokpal
 
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Mumbai, August 02, 2017
ST - Toll tax paid by transporter and reimbursed by respondent is not liable to service tax as part of gross value of GTA service: CESTAT
 
Mumbai, August 02, 2017
CX - Services of erection, commission and installation for constructing temporary shed to store finished goods in factory is an Input service: CESTAT
 
Mumbai, August 01, 2017
CX - Paver blocks used for repair of factory road do not qualify as inputs - CENVAT credit rightly denied: CESTAT
 
New Delhi, August 01, 2017
ST - Appellant never advised clients to approach persons appointed in foreign countries for booking accommodation - no tax liability under reverse charge: CESTAT
 
Allahabad, August 01, 2017
I-T - Interest earned by exporter on FDRs pledged with bank for availing credit facility, is liable for deduction in terms of explanation (baa) u/s 80HHC(4C), while computing his income from export business: HC
 
Mumbai, August 01, 2017
ST - Rent-a-cab service is an Input service as motor vehicle is capital goods for service provider: CESTAT
 
Mumbai, August 01, 2017
CX - Once excise duty has been paid on final product, CENVAT credit on input stage cannot be denied: CESTAT
 
New Delhi, July 31, 2017
I-T - When waiver of loan is credited to capital reserve and interest thereon is written off in P&L A/c, such waiver cannot be added u/s 41 if loan was taken for purchasing fixed assets: HC
 
Mumbai, July 31, 2017
ST - Marketing goods of foreign seller and receiving commission in convertible foreign exchange would qualify as export of service: CESTAT
 
Mumbai, July 31, 2017
CX – Absent flow of additional consideration from buyer to appellant, undervaluation cannot be alleged: CESTAT
 
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