Productivity of LS was 167% & RS over 100%: MoS (See 'TOG News')PM says labour reforms will ensure well being of workers and boost economy (See 'TOG News')Measures being taken to boost Industrial Growth Rate: Govt (See 'TOG News')COVID-19 & Digital Technologies eat up romance of 'OFFICE' & also sovereignty to levy taxes! (See 'THE COB(WEB)' in TIOL)INTL - Revenue cannot reject Form 35A due to procedural lapse of it not being signed by the director concerned & where assessee obtains signature of another director in pressing circumstances: ITAT (See 'TOG Latest')I-T - Section 54F mandates that sale proceeds from sale of original capital asset be utilised to purchase or construct new residential property, regardless of it being before or after date of sale of original asset: ITAT (See 'TOG Latest')Customs - Rejection of declared value of imported goods, u/r 12 of CVR is not sustainable, where the Revenue did not chronologically apply the provisions of Rules 4-9: CESTAT (See 'TOG Latest')Service Tax - Refund u/s 11B of CEA 1944 is rightly disallowed where claimant-service provider passed on incidence of duty onto service recipient & where the former did not refund such amount to the latter: CESTAT (See 'TOG Latest')Tele-law reaches out to vulnerable sections (See 'TOG News')Economic recovery - Aggressive spending is Hobson's Choice: UNCTAD (See 'TOG News')TP - It is fit case for remand where transaction of payment of discount/rebate to overseas AE, is deemed to be sham transaction, without first appreciating the Master Service Agreements between the assessee & its AEs: ITAT (See 'TOG Latest')I-T - Late filling fee cannot be levied u/s 234E where date of filing of TDS statement & date of intimation are much prior to 06.06.2015, being date of introduction of Section 234E: ITAT (See 'TOG Latest')VAT - Claim for input tax credit cannot be denied solely because the dealers from whom the assessee made purchases, had not paid taxes or that the final products manufactured by the assessee were not exported: HC (See 'TOG Latest')Service Tax - That challans submitted as evidence of payment of duty, did not bear a legible bank seal, is invalid grounds to reject such challans - fresh duty demand raised is unsustainable: CESTAT (See 'TOG Latest')Composite criteria to help MSME sector: MoS (See 'TOG News')3,82,581 shell companies strick off: MoS (See 'TOG News')
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Publication of Revised ANF-7A
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CBDT modifies provisions of Rule 29B of I-T Rules; notifies new Form 15C
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DGFT extends date for implementation of Track and Trace system for export of drug formulations
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DGFT amends MEIS schedule in respect of certain items
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CBDT specifies scope of cases to be covered under Faceless Assessment Scheme 2019
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CBIC appoints common authority to adjudicate SCNs issued by DRI
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ORDER, ORDER!!

Mumbai, Sep 24, 2020
INTL - Revenue cannot reject Form 35A due to procedural lapse of it not being signed by the director concerned & where assessee obtains signature ....

Chennai, Sep 24, 2020
I-T - Section 54F mandates that sale proceeds from sale of original capital asset be utilised to purchase or construct new residential property, regardless of ....

Mumbai, Sep 24, 2020
Customs - Rejection of declared value of imported goods, u/r 12 of CVR is not sustainable, where the Revenue did not chronologically apply the provisions ....

Chennai, Sep 24, 2020
Service Tax - Refund u/s 11B of CEA 1944 is rightly disallowed where claimant-service provider passed on incidence of duty onto service recipient & where ....

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GST LATEST

THE INSIGHT

Provisional release of seized goods - A comparison under CGST Act, 2017 & CA, 1962

By: Rajesh K. Arora, Former Superintendent GST, C.Ex. & Customs

1. Under GST Act, the procedure for seizure of goods has been enumerated under the provisions of Section 67 of the Act. Sub Section 2 of Section 67 stipulates that

(2) Where the proper officer, not below the rank of Joint Commissioner, either pursuant to an inspection carried out under sub-section (1) or otherwise, has reasons to believe that any goods liable ....

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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

Productivity of LS was 167% & RS over 100%: MoS
Measures being taken to boost Industrial Growth Rate: Govt

TOG NEWS SERVICE, NEW DELHI, SEPT 24, 2020: Industrial growth depends on a number of factors including structural, external, fiscal and industrial factors. The moderation in India's industrial growth coincides with deceleration ....

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EDITOR's KEYBOARD - FROM ARCHIVE

Black Money Issue Gets 'Black-Eye'! Income Tax Investigation Becomes 'Distraction' for CBDT?

By: Shailendra Kumar, Founder Editor (Dec 06, 2012)

WITH the Indian economy losing its steam, the most 'steamy' issue of black money also seems to have been relegated to the back seat. Although it is anybody's guess that the role of black money has multiplied in the economy even if one discounts the corruption exposures by the Aam Aadmi Party patrons or the CAG, but the issue of black money has certainly lost its ....

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