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Friday , August 1, 2014 | Updated : Aug 1, 21:25 IST
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CBEC issues transfer order of 53 Commissioners (See 'Transfer' in Pitara) K Anantha Padmanabhan goes to Chennai Central Excise (See 'Transfer' in Pitara) Kaushal Srivastava gets addl charge of Vigilance + computerisation (See 'Service News' in Pitara) PM 'gazettes' grassroot-level relief for common man; directs Govt agencies to accept self-certified documents in place of affidavit (See 'Breaking News') About Rs 3500 Cr public fund lying unclaimed with companies, says Minister (See 'Mixed Buzz') K V Chowdary appointed as new CBDT Chairman (See 'Service News' in Pitara) ST - Appellant importing Liquid Helium in vacuum insulated tanks from foreign supplier - after use, tanks are re-exported - as exporter of helium has no control over tanks, he cannot be held to be storage and warehouse keeper - no ST payable under Reverse charge: CESTAT (See 'Breaking News') Capping of prices of non-scheduled drugs: Delhi HC issues notice to NPPA Civil Services Exam imbroglio creates pandemonium in Parliament ITAT grants relief to Bollywood Star Salman Khan; sets aside penalty imposed for claiming legal expenses incurred on criminal cases as business expenditure (See ‘Breaking News’) Service Tax on Foreclosure charges – No charges for foreclosing Litigation (See 'DDT' Column) CENVATTED Moulds & dies sent to 'vendor' for production of final products – such clearances permitted only after amendment of rule 4(5)(b) – if appellant also utilizing these Moulds, infraction is only procedural warranting penalty rather than denial of credit: CESTAT (See 'Breaking News') 'Expiry Date' for CENVAT Documents (See 'ST se GST tak' Column) China all set to emerge as India's top trading partner this fiscal (See ‘Mixed Buzz’) ST - In SCN, demand in respect of Break Bulk Fees is made under transportation of goods by air - Appellant is not an aircraft operator so demand not sustainable - also order confirming demand under Cargo Handling is beyond scope of SCN: CESTAT (See 'Breaking News') CBEC invites applications for post of JS (RA) (See ‘Deputation’ in Pitara) Cycle to Supreme Court – Acute Parking Problem (See 'DDT') Import of Poppy Seeds - undervaluation - DRI not recorded any statement of any individual who had been conduit through whom Hawala deal took place - although prima facie there is strong case for appellant no other option as third Member, but either to agree with one of differing views - Pre-deposit ordered: Tribunal by Majority (See 'Breaking News') Railways to go for Wi-fi facility at major stations (See ‘Mixed Buzz’) Core sector sends revival signals; grows by 7.3% in June India tells US - snooping of Indian politicians not acceptable OMCs reduce petrol price by Rs 1.09 but hike diesel price by 50 paise per litre CBDT Chairperson R K Tiwari retires today; Member (Inv) K V Chowdary gets Addl Charge Govt reduces tariff value of Gold + Silver (See 'Custom NT' in What's New) ACC clears appointments of Navtej Singh Sarna as Special Secretary in MEA + Prakash Mishra as Special Secretary(Internal Security) in MHA Black Money - Income Tax weapon of Search & Seizure becoming STINGLESS! (See 'THE COB (WEB)' Column) ST - Telecom Infrastructure Services are more appropriately classifiable under Business Support Service - demand under BAS is not sustainable: CESTAT (See 'Breaking News') What is Revenue foregone? (See 'DDT' Column) CENVAT – Rule 3(3) of CCR, 2004 - Duty paid on any input can be utilized for payment of any duty of excise on any final product – no one-to-one correlation required - availment of duty paid on Molasses for payment of duty on Sugar not barred: CESTAT (See 'Breaking News') List of Officials with Doubtful Integrity: CBI prepares it alone; No role for CVC: Minister (See 'Mixed Buzz') Income tax - Whether profit relatable to sale of unutilized FSI is also eligible for Sec 80IB(10) benefits - NO: HC (See 'Breaking News') Service Tax – 15 lakh returns pending corrective action - CAG (See 'DDT') Cus - if statutory provision is capable of two interpretations, taking one such interpretation cannot give rise to an error apparent from record even if one is of view that other interpretation is more correct in context - ROM dismissed: CESTAT Delay in Passport Issuance significantly reduced: Govt (See 'Mixed Buzz') Rajya Sabha also clears Finance Bill; Presidential Assent expected any time today US steps up pressure on India to end opposition to WTO deal on trade facilitation RBI issues fresh direction to banks to share information with SIT on Black Money (See 'RBI Cir' in What's News) Natural Rubber is in negative list of FTAs, says Minister (See 'Mixed Buzz') China having 'Apple' time in India (See 'Mixed Buzz') ST - Construction of retention wall on bank of Sabarmati river can be considered in a broad sense as renovating or restoring of water bodies - activity falls under exclusion clause of CBDT issues transfer order of 20 Addl / JCITs (See 'Transfer' in Pitara) FM to meet CEOs of Public Sector Banks and FIs tomorrow on issue of financial inclusion Amazon decides to invest USD 2 bn to grab larger e-tail space in India Sixth Economic Census provisional results released (See 'Mixed Buzz')
 
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Service Tax on Foreclosure charges - No charges for foreclosing Litigation
TIOL-DDT 2408,
August 01, 2014
 
 
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