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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Chennai, May 31, 2016
Facility of transfer of CENVAT Credit under Rule 10 of CCRs, 2004 is available for shifted units also - Absence of word 'shifted' in said sub-rule appears to be an inadvertence: CESTAT
 
New Delhi, May 31, 2016
CX - Settlement - None of provisions in Chapter V dealing with 'settlement of cases' envisages CCESC sending matter for adjudication to Officer because there was no consensus between applicant & Department - Orders set aside: HC
 
New Delhi, May 31, 2016
I-T - Whether denial to release cash seized from armoured vehicle which was hired by banks to transport cash can be sustained as Revenue was yet to verify cash slips from customers - NO: HC
 
Chennai, May 31, 2016
Water dispensers imported - Whether RSP assessment is applicable - No error in order of original authority allowing refund by holding RSP is not applicable: CESTAT
 
Mumbai, May 31, 2016
CX - Benefit of 15% discount on MRP claimed in price list as per Notfn 245/83 - whether prices were approved by DPCO - no evidence produced before lower authorities as well as Tribunal - whether claim is fraudulent and, therefore, extended period is invocable - Difference of Opinion: CESTAT
 
Chennai, May 30, 2016
I-T - Whether Rule 37(7)(i) is ultra vires Sec 17(2)(viii) as it prescribes exact method of valuation of fringe benefits and leaves no fact to be decided by AO - NO: HC
 
Mumbai, May 30, 2016
ST - Assessee, an exporter of BAS - Internet Telecom Services, Market Research services, Videotape production & Security services are in relation to business activity and, therefore, Input services - Refund admissible u/r 5 of CCR, 2004: CESTAT
 
Antalya, May 29, 2016
No change in UN-sponsored list of LDCs in past 15 years; LDCs have 12.5% world population but account for only 1.1% of global trade
 
New Delhi, May 29, 2016
Lakshadweep signs agreement to move from diesel to solar energy
 
New Delhi, May 28, 2016
FM taking off today for Japan on 6-Day Official Visit; Mission is to coax Investors for Investment in India
 
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