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Corporate News *  No Service Tax On Reimbursed Salary of Seconded Employee: CESTAT *  Customs Dept. Can’t Deny Exemption Benefits Based On Laboratory Test Reports Not Drawn As Per ISI: CESTAT *  Service Tax Not Payable on Hostel Buildings Rented to Educational Institutions: CESTAT *  GST Penalty on Partners Valid Even for Pre-2021 Transactions U/s 122(1A): Gauhati High Court  *  KYC Verification Of Importer By Customs Broker Through Govt. Portals Enough, No Physical Verification Required: CESTAT  *  GSTN Extends Timeline for implementation of mandatory “Ship To GSTIN” and Voluntary Closure of E-Way Bill functionalities.  *  Customs Dept. Can’t Indefinitely Suspend Cargo License Without Inquiry: CESTAT  *  No Evidence of Customs Broker’s Knowledge of Mis declared Sugar Export: CESTAT Quashes Penalty Under CBLR.  *  Transportation Charges Not Taxable as Business Support Service: CESTAT  *  No Gold Seizure Without Proof of Smuggling or Foreign Origin: CESTAT *  Dept. Can’t Classify Product as Zarda Scented Tobacco After Repeatedly Approving It As Chewing Tobacco: CESTAT *  Mere Uploading Of GST Order On Portal Is Not “Valid” Service: Tripura HC *  CGST Can Proceed Even If SGST Closed Similar Case Earlier: Delhi HC *  SC upholds 28% GST on online gaming with retrospective effect. *  West Bengal Govt cuts E-way Bill Threshold limit to Rs. 50,000 for intra-state goods movement. *  Criminal Prosecution Under Central Excise Act Can’t Continue After CESTAT Sets Aside Duty Demand on Merits: Punjab & Haryana High Court. *  Madras High Court Quashes GST Assessment Orders for Denial of Personal Hearing; Remands Matter Subject to 10% Deposit *  Ex Parte GST Order: Madras High Court Directs Immediate Removal of Bank/ITC Attachment Upon 25% Deposit *  J.K. Cement Receives GST Demand Order of Rs 8,02,113/- from Ahmedabad Tax Authority *  Delhi Police EOW Busts Alleged Rs. 128 Crore GST Fake Invoice Network. *  REPLY TO SCN CAN’T BE TREATED AS “EMPTY FORMALITY”: ORISSA HIGH COURT QUASHES GST DEMAND OF RS. 57.30 LAKH *  Challenge to CGST Provisions restricting ITC to Bonafide Purchasers : Allahabad HC issues notice *  CBIC Notifies Revised Customs Tariff Values for Edible Oils, Gold, Silver, Brass Scrap and Areca Nuts *  Delhi HC Orders Removal of GST Attachment After Statutory 1 Year Period Expired *  GSTAT Extends Relaxed Appeal Filing Guidelines till December 31, 2026 *  AO fails to Provide Import - Export Data from DGFT to Taxpayer for Reconciliation *  Gold, Silver Imports To Get Costlier As Govt Raises Customs Duty To 10%  *  GSTAT Enables Pre-Payment Access to Document Upload and Checklist for GST Appeal Filing *  GST Portal Restrictions Can’t Override Statute: Gujarat HC Allows Cross-State Transfer Of CGST ITC After Amalgamation *  Centre Revises HS Codes for Large Diameter Steel Pipes Used in Oil & Gas Pipelines
Subject News *  Personal Hearing Before Reply Deadline: Uttarakhand HC Quashes GST Assessment Order. *  GST Assessment Order Invalid Where Notice, Reply, Hearing Dates Were Fixed on Same Day: Allahabad High Court *  GST Assessment Order Quashed for Denial of Personal Hearing Despite Taxpayer Opting ‘No’ in DRC-06: Gujarat High Court *  Reversal of CENVAT Credit Equals Non-Availment: CESTAT *  Rule 9(1)(bb) Can’t Be Invoked to Deny CENVAT Credit When Penalty Proceedings Fail: CESTAT *  • Customs Duty Exemption on Edible-Grade Oils Used in Cosmetics: CESTAT  *  Bona Fide Purchaser Can’t Be Denied ITC Merely For Seller’s Deposit Tax Failure: Gauhati High Court  *  Reversal of CENVAT Credit Equals Non-Availment: CESTAT  *  Sec. 73 & 74 Permit Consolidated Proceedings Across FY: Gauhati High Court Upholds Multi-Year GST SCN  *  Consignment Sales Can’t Be Reclassified as Inter-State Sales Based on Pre-Agreement Evidence: CESTAT *  Exporter Can’t Be Denied Advance Authorization Benefit Due To ICEGATE Technical Glitch: Delhi High Court *  No GST Demand For Mere Wrong Set-Off Of IGST Credit Under CGST And SGST Heads: Kerala HC. *  Cenvat Credit Can’t Be Denied on Input Services Having Nexus With Manufacturing Activities: CESTAT *  Pending Proceedings Can’t Survive Without Saving Clause: Calcutta High Court Quashes GST Demand of Rs. 6.28 Crore After Omission of Rule 96(10) *  Madras HC Quashes GST Demands on TASMAC (Tamil Nadu State Marketing Corporation) Bar Licence Fee *  GST Proceedings Cannot Survive Omitted Rule Without Saving Clause: Calcutta HC *  Provisional Release Can’t Be Denied Solely On Dept. Suspicion Of Misclassification And Undervaluation Of Imported Goods: CESTAT *  Businesses Should Not Be Kept Outside GST Regime Without Due Process: Gauhati High Court *  Punjab & Haryana HC Directs Reconsideration of Contractors’ Claim for Additional GST Payment After Tax Rate Hike From 12% to 18% *  S. 108 Statements Can’t Be Sole Basis Without Following Section 138B Procedure: CESTAT *  Bombay High Court Frames Key Questions on Mandatory Distribution of ITC U/s 20 CGST Act *  Filing of Annexure-B for Refund Applications involving Accumulated ITC using the offline utility in GST portal: GSTN *  No Service Tax on Parent Company’s Un-Invoiced Cost Allocations Without Actual Service or Consideration: CESTAT  *  Calcutta High Court Upholds GST Classification of Polypropylene Leno Bags as Plastic Products *  DRC-01 Summary Can’t Replace Mandatory SCN: Gauhati High Court *  GSTAT Issues Major Bench Allocation Framework; All Appeals to First Go Before Division Bench *  ITC Blocking Without Reasoned Order Violates Rule 86A; Punjab & Haryana HC Directs Release of Credit *  Allahabad HC Refuses Bail to CGST Superintendent In Rs. 70 Lakh Bribery Case *  S.130 Can’t Be Invoked Without Prior Tax Determination U/s 73/74: Allahabad High Court Quashes GST Confiscation Proceedings *  SC grants Bail to Rs 54cr GST case   

Comments

With industrial activity picking up, economy can grow by 7.5% in the coming fiscal

There is a distinct chill coming through from the Reserve Bank of India (RBI) to the government - rates will not be cut unless the Centre shows a credible path on fiscal consolidation. The message was loud and clear in the policy review last week. And given that the likelihood of government paying heed is low, expectations are now muted on rate cuts. Therefore, rate cuts will be slow over the year ahead, with a sharp focus on inflation in manufactured products. What lies ahead for manufactured products? Inflation here is falling very slowly and is expected to stay in the 6-7% range for the next two quarters. There are many underlying forces keeping the trend from declining further. Even while inflation in primary food products has fallen sharply last month, the RBI reiterated what we have been saying - inflationary pressures persist. The HSBC Markit PMI for January already shows strong input price inflation in the manufacturing sector with high raw material costs. Going ahead, we have already identified oilseeds as one pressure point. Sugar is another one lurking in the background now. Domestic levy has been increased and given the drought in South America lowered output from Brazil can push prices up further in another few months.
 
(Source: The Economic Times)
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PRADEEP JAIN, F.C.A.

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