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IGST refunds not justified where higher/composite drawback benefit claimed, clarifies CBIC
October 10 2018
CBIC issues clarification in respect of cases where IGST refunds have not been granted due to claiming higher rate of drawback or where higher rate and lower rate were identical pursuant to representa...View more
Karnataka Govt. mandates audited accounts for dealers with Rs.25 lakhs – Rs.1cr turnover between April-June 2017
October 05 2018
Karnataka Govt. introduces Karnataka VAT (Amendment) Rules, 2018 to provide that audited statement of accounts for the period from April to June 2017 where the total turnover during the period exceeds...View more

CBIC clarifies on applicability of Customs Act to Cruise Tourism, reiterates policy decisions
October 05 2018
CBIC issues clarifications regarding applicability of provisions of Customs Act to Cruise Tourism, re-iterates policy decisions and clarifications already issued by CBIC; Clarifies that while no Custo...View more
DGFT postpones activation of E-com module for SEIS application to October 8
October 05 2018
DGFT postpones activation of E-com module for applying for SEIS, based on new ANF-3B from October 3 to October 8, 2018...View more

Maharashtra Govt. provides 'Ledger Confirmation Utility', prescribes guidelines to submit Audit report for FY 17-18
October 03 2018
Maharashtra Govt. provides 'Ledger Confirmation Utility' for dealers unable to file Supplementary Annexure of sales & purchase Maharashtra State Govt. provides ‘Ledger Confirmation Utility&...View more
WCO releases 2018 edition of Customs Valuation & TP Guide, includes updates on BEPS
October 01 2018
World Customs Organization (WCO) releases 2018 edition of the Guide to Customs Valuation and Transfer Pricing (2018 Guide) summarizing principles of customs valuation & transfer pricing and provid...View more

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HC : Invokes saving clause, upholds service-tax proceedings initiated under Finance Act post GST
October 16 2018
HC dismisses assessee’s writ challenging proceedings under show cause notice issued u/s 73(i) of Finance Act, 1994 (Finance Act) on the ground that same stood omitted in view of Section 173 of C...View more
SC : Upholds HC, limitation imposed on time period to avail ITC not 'unreasonable' 
October 15 2018
SC affirms HC, upholds validity of Section 19(11) of Tamil Nadu VAT Act, 2006 which requires a registered dealer to claim input tax credit (ITC) within 90 days from date of purchase or before end of f...View more

CESTAT : Composite 'metro rail' construction contract not taxable as erection, commissioning service pre-July 2007
October 17 2018
CESTAT holds that a turnkey contract for underground metro rail construction between ISBT Station and Central Secretariat in New Delhi, is classifiable under “Work Contract Service” fallin...View more
SC : Allows ITC on sales to State Govt. outside the State without insisting Form 'C' 
October 15 2018
SC allows assessee’s appeal, reads down Section 19(5)(c) of Tamil Nadu VAT Act, 2006 (TNVAT Act) by extending benefit of ITC without insisting on Form ‘C’ where sales are made to oth...View more

HC : Finds no perversity in CESTAT's order denying credit absent demonstration of goods movement 
October 17 2018
HC dismisses assessee’s appeal against order of CESTAT which disallowed CENVAT credit on inputs on the ground of clandestine transactions, absent any question of law; CESTAT basis report from RT...View more