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Friday , December 19, 2014 | Updated : Dec 19, 22:59 IST
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NEWS FLASH
 
Transfer Pricing - India signs bilateral Advance Pricing Agreement with Japan for five years 14 New Judges take oath in Punjab & Haryana High Court Retail Sector in India to surpass USD one billion by 2020: PwC CBEC promotes R Venkataraman as Principal Commissioner + Transferred B K Kar from LTU to Audit (CX), Bangalore (See 'Pitara') Mid-Year Economic Analysis: Legacy of past expenditures weighing on Budget targets, says Chief Economic Advisor (See 'Mixed Buzz') GST Bill - Provisions relating to 'Declared Goods' deleted; allows additional tax of 1% non-vatable tax on inter-state trade for 2 yrs to compensate exporting state; to compensate revenue loss for 5 yrs; to keep petroleum products outside GST Net for some years FM tables GST Bill in Parliament Govt to allot Unique Labour Identification Number for transparency among workers (See 'Mixed Buzz') Gold raining in Hyderabad airport – Customs seizes nearly 2.5 kgs from 4 pax - Gold concealed in rectum, iron box and under seat Service Tax Liability on irrigation projects under WCS - Marathon hearing before CESTAT Larger Bench concludes at Bangalore - Order reserved (See 'Breaking News') Service Tax - Audit by CAG - Supreme Court Stays Delhi High Court Judgement in Travelite (See 'DDT') Transfer of Income tax case to Chandigarh - HP High Court grants relief to Chief Minister Virbhadra Singh & family TIOL proudly presents to you DDT 2500 - Every Day has been a learning experience (See 'DDT' Column) CX - Short payment of duty of Rs 6158 & duty demand of Rs 457 Cr by invoking rule 8(3A) of CER, 2002 - law does not care for trifles - Revenue interpretation may lead to position of chaos rather than harmony and certainty: CESTAT (See 'Breaking News') General Audit by Departmental Officers and CAG (See 'ST se GST tak' Column) Income tax - Whether if assessee makes wrong claim of royalty which actually pertained to earlier AYs, it is fit case to attract penalty if assessee fails to give valid reasons for making such claims twice - YES: HC (See 'Breaking News') Service Tax - Audit by CAG - Supreme Court Stays Delhi High Court Judgement in Travelite (See 'DDT') Govt mops up Rs 6900 Cr Clean Energy Cess so far this year: Minister (See ‘Mixed Buzz’) ST - SCN and orders sent by Speed Post is not valid service - COD applications allowed - Two SCNs were served personally to applicant - on same issue, as Tribunal has confirmed ST demand in case of Reliance Michigan JV, on merits, revenue has case - Pre-deposit ordered: CESTAT (See 'Breaking News') Foreign Exchange –Conversion Rate - CBEC corrects overvaluation of YEN (See 'DDT') Prices of 175 life-saving drugs reduced in last six months: Minister (See ‘Mixed Buzz’) CX - Sika Latex & Sika Latex Power are manufactured goods and chargeable to CE duty - addition of water to Inputs is not simple process otherwise even customers could have done same while using it - matter remanded for extending cum-duty benefit: CESTAT (See ‘Breaking News’) Interruption by Lady Lawyer - Delightful - Objectionable (See 'DDT') Deemed exports benefits - CBEC clarifies on authentication of supply invoice by excise authorities + rewarehousing of goods imported by EoU + norms for execution of BG in respect of Advance Licence & EPCG (See Circulars in ‘What’s New’) CBDT issues transfer order of 10 CITs (See 'Transfer' in Pitara) UN-backed project - farmers to grow cacao in place of drugs (See 'Mixed Buzz') CBDT issues transfer order of 3 AC/DCs (See 'Transfer' in 'Pitara') No proposal to reduce retirement age to 58; Govt spent more than Rs one lakh crore to pay salaries to its employees in 2012-13: Minister India, Germany sign pact for Euro 625 mn for Green Energy Corridors Project (See 'Mixed Buzz') President congratulates ISRO for successful launch of GSLV-MARK III SC extends Jaya's bail; directs Karnataka HC to set up Special Bench
 


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