Jal Jeevan Mission: Rs 8500 Cr corpus available with States: Govt (See 'TOG News')PMGKAY - States distributed 93.5 % of allocated food grains (See 'TOG News')Inventory Write-off - Post-GST & Pre-GST (See 'THE INSIGHT')Foundation Stone of Indian Institute of Management at Sirmaur laid (See 'TOG News')Union Ministers launch book 'Swachh Bharat Kranti' (See 'TOG News')DTAA - No TP adjustment is warranted, where the assessee reimburses the actual interest expenses debited by the bank to the assessee's Head Office: HC (See 'TOG Latest')I-T - Cash seized during search operations and which is later volunatarily offerred by the assessee as advance tax, is liable to be adjusted against pending tax dues: HC (See 'TOG Latest')Central Excise - Activity of checking, inspection & packing of Dry Cell batteries used as inputs & cleared as finished goods, is not tantamount to manufacture u/s 2(f) of CEA 1944: CESTAT (See 'TOG Latest')Customs - Goods already exported without obtaining NOC cannot be confiscated u/s 13 of Customs Act, which provides for confiscation of goods attempted to be improperly exported: CESTAT (See 'TOG Latest')VP deplores case pendency; calls for faster & affordable justice (See 'TOG News')Family system a unique feature of Indian culture: VP (See 'TOG News')I-T - In absence of reasons to believe that income chargeable to tax had escaped assessment, AO cannot assume jurisdiction and issue re-assessment notice u/s 148: HC (See 'TOG Latest')I-T - Where AO has already analysed an issue & where appeal against assessment order is pending disposal before CIT(A), the same issue cannot again be relooked by CIT u/s 263: ITAT (See 'TOG Latest')Central Excise - Key to deciding ownership over goods ininternational trade is the Bill of Lading, which is a document of title - hence seized goods can be released to the appellant where B/L is in its name: CESTAT (See 'TOG Latest')Service Tax - Benefit under SVLDRS 2019 cannot be allowed to an assessee who did not file half-yearly returns electronically, within the period prescribed in the statute: HC (See 'TOG Latest')Railways organizes Virtual Retirement Function for 2320 officials (See 'TOG News')
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JUST GAZETTED


CBIC notifies new Customs station for handling imported & export goods
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CBIC amends Sea Cargo Manifest and Transhipment Regulations, 2020
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CBIC hikes tariff value of Gold, Silver & edible oils
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CBIC amends Transhipment of Cargo to Nepal under Electronic Cargo Tracking System Regulations 2019
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Issuance of Preferential Certificate of Origin for India’s exports to Thailand under ASEAN-India FTA
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Issuance of Preferential Certificate of Origin for India's exports to Vietnam under ASEAN-India FTA
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ORDER, ORDER!!

Ahmedabad, Aug 05, 2020
DTAA - No TP adjustment is warranted, where the assessee reimburses the actual interest expenses debited by the bank to the assessee's Head Office: HC ....

Bengaluru, Aug 05, 2020
I-T - Cash seized during search operations and which is later volunatarily offerred by the assessee as advance tax, is liable to be adjusted against ....

Kolkata, Aug 05, 2020
Central Excise - Activity of checking, inspection & packing of Dry Cell batteries used as inputs & cleared as finished goods, is not tantamount to ....

Hyderabad, Aug 05, 2020
Customs - Goods already exported without obtaining NOC cannot be confiscated u/s 13 of Customs Act, which provides for confiscation of goods attempted to be ....

< More News >
   
   

GST LATEST

THE INSIGHT

Inventory Write-off – Post-GST & Pre-GST

By: K V Srinivasamurthy, Senior Consultant – Indirect Taxes, PKF Sridhar & Santhanam LLP, CA, Chennai

RECENTLY I came across a situation, wherein Write off of capital goods, the value of which was merely written down from the books of account as per accounting standards with neither loss of control nor removal of goods from the factory was considered as 'Supply'.

Analysis:

Before going to the issue, it would be pertinent to look into the following ....

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GST NEWS

New Delhi, Jul 28, 2020
TOG News Service
GST - Centre disburses Rs 165302 Cr as Compensation Cess ....

New Delhi, Jul 02, 2020
TOG News Service
GST - Rs 90917 Cr collected in June ....

New Delhi, Jul 02, 2020
TOG News Service
GST Day 2020 - FM underscores salience of Ease of Doing Business ....

New Delhi, Jun 15, 2020
TOG News Service
Government rolls out facility of filing of NIL GST Return through SMS ....

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TIOL TUBE LATEST

   

NEWS PILLS

Jal Jeevan Mission: Rs 8500 Cr corpus available with States: Govt

TOG NEWS SERVICE, NEW DELHI, AUG 06, 2020: WATER crisis in West Bengal is a serious issue that needs immediate attention. The rapid urbanization and over-exploitation of ground water has made the situation ....

PMGKAY - States distributed 93.5 % of allocated food grains

TOG NEWS SERVICE, NEW DELHI, AUG 06, 2020: AS per reports available from Food Corporation of India, all States/UTs combined have lifted about 118 LMT (99%) of three-month food grains from FCI depots/central ....

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EDITOR's KEYBOARD - FROM ARCHIVE

Kelkar Report: A Recipe for Political Suicide?

By: Shailendra Kumar, Founder Editor (Oct 04, 2012)

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