Govt sets up committee to draft new direct tax lawCabinet gives nod to Indo-Filipino pact on customs mattersUnion Cabinet okays India's membership for EBRDCabinet extends IICA scheme till 2019-20Cabinet okays new scheme 'Mahila Shakti Kendra' (See 'TOG News')Cabinet nod for setting up of the 15th Finance CommissionSC, HC judges to get salary hike (See 'TOG News')Sikkim, Chhattisgarh adopt direct selling guidelines (See 'TOG News')TP - Inclusion or exclusion of comparables per se, is no question of law, unless it is demonstrated that relevant factors are excluded in ALP determination that impact significantly: HC (See 'TOG Latest')Income Tax - Contribution by foreign govt., made to a trust set up by the govt. in a JV with a foreign govt. exempt from income tax: ITAT (See 'TOG Latest')Central Excise - Standard units of quantity mentioned in Central Excise tariff have not been made mandatory by CBEC: CESTAT (See 'TOG Latest')Customs - When veracity of statement has not been tested by providing x-examination, penalty cannot be imposed: CESTAT (See 'TOG Latest')No dictate, even Appeal works; FMCG does the needful (See 'TOG News')DTAA - Payment made to overseas HO for use of software licence, is covered under term 'royalty' & is liable for deduction of tax at source u/s 195: ITAT (See 'TOG Latest')Income Tax - Inability to maintain quantitative & qualitative stock register, due to complex nature of Assessee's business, does not calls for rejection of books of account u/s 145(3): HC (See 'TOG Latest')Customs - No retrospective higher norms are maintainable when same was ratified & supported by actual consumption or scrap data: CESTAT (See 'TOG Latest')Service Tax - Demand of ST on transportation of lime stone by treating it as cargo handling service is not sustainable: CESTAT (See 'TOG Latest')Cooperatives ensure remunerative income for farmers & rural population: Agri Min (See 'TOG News')Coordination between regulatory authorities & pharma sector will promote new technologies: Govt (See 'TOG News')Anti-Profiteering Authority in GST- a paper tiger? (See 'TOG Insight')
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TOG CIRCULAR / NOTIFICATION / INSTRUCTION

Clarification in respect of anti-dumping duty on imports of color coated aluminium foil from China PR
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Eligibility of dumpers imported for Coal Mines for benefits under Project Import Regulations
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Implementing Electronic Sealing for Containers by exporters under self-sealing procedure by Circular 26/2017-Cus dated 01.07.2017, 36/2017 dated 28.08.2017, 37/2017 dated 20.09.2017 and 41/2017 dated 30-10-2017
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CBEC imposes ADD on rubber chemical PX 13 & MOR originating in and exported from EU and China PR respectively
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CBEC increases import duty leviable on soya beans from 30% to 45%
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CBEC amends Customs Notfn. No. 50/2017 increasing standard rates of certain edible grade items
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TOG NEWS

Cabinet okays new scheme 'Mahila Shakti Kendra'

TOG News Service, NEW DELHI, NOV 22, 2017: IN a move to empower rural women, the Cabinet Committee on Economic Affairs (CCEA) has given its approval for expansion of ....

SC, HC judges to get salary hike

TOG News Service, NEW DELHI, NOV 22, 2017: THE Union Cabinet has approved the revision in the salaries, gratuity, allowances, pension of the Judges of the Supreme Court and ....

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TOG LATEST

NEW DELHI, Nov 22, 2017
TP - Inclusion or exclusion of comparables per se, is no question of law, unless it is demonstrated that relevant factors are excluded in ALP ....

NEW DELHI, Nov 22, 2017
Income Tax - Contribution by foreign govt., made to a trust set up by the govt. in a JV with a foreign govt. exempt from ....

KOLKATA, Nov 22, 2017
Central Excise - Standard units of quantity mentioned in Central Excise tariff have not been made mandatory by CBEC: CESTAT ....

CHENNAI, Nov 22, 2017
Customs - When veracity of statement has not been tested by providing x-examination, penalty cannot be imposed: CESTAT ....

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THE INSIGHT

Anti-Profiteering Authority in GST- a paper tiger?

By: G Mohana Rao, Assistant Commissioner (Retd.)

"Any reduction in rate of tax on any supply of goods or services or the benefit of input tax credit shall be passed on to the recipient by way of commensurate reduction in prices", Says so, the provisions of Section 171 of the CGST Act, 2017. What if not done? Penalty can be imposed, albeit a maximum of Rs. 25,000/-. Further, ....

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