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Possession of Ornaments, not an Offence: CESTAT allows to Release of Gold Balas from Custody [Read Order]

The Kolkata Customs, Excise and Service Tax Appellate Tribunal ( CESTAT )held that the possession of ornaments is not an offence and allowed to...

Investment Scam: ED arrested the three Directors of Bluemax Capital Solutions Pvt. Ltd. & Associate...

No TDS on Wastage of Gold during Jewellery Creation as 'Making Charges': ITAT deletes Disallowance...

Investment on Gold Proved with Bills and Vouchers: ITAT deletes Income Tax Addition [Read Order]

Action of Department on Disposal of Gold through SBI Bullion during the pendency of appeal violates...

Income Tax on Gold Holding: All You Need to Know

The instruction that prescribes the quantity of gold that, the Central Board of Direct Taxes (CBDT) has issued on 11th May 1994 clarified that, a person who is not assessed to wealth tax can...

CBIC Notifies Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold, and Silver [Read Notification]

The Central Board of Indirect Taxes and Customs (CBIC) has notified the Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold, and Silver. The CBIC, Department of Revenue, and Ministry of...

DRI seizes 23.23 kg Gold valued at Rs 11.65 cr being Smuggled through North-East Borders, 4 held

The recent gold seizures in the North East by Directorate of Revenue Intelligence (DRI) indicate a spurt in smuggling of gold through NE borders of Bangladesh and Myanmar. While the porous borders...

How Do the U.S. Presidential Elections Impact Gold Prices

The U.S. Mid-term elections are just around the corner. In November, congressional seats will be up for grabs, which will help determine if the democrats remain in power or if the republicans re-take...

U.S - Presidential Elections - Gold Prices - taxscan

CBIC clarifies Issues on Disposal of Gold [Read Order]

The Central Board of Indirect taxes and Customs (CBIC) issued a circular last week clarifying the issues relating to the disposal of gold. Firstly, the issue raised was in respect of the...

E-Way Bill Available for Gold on Portal: NIC

The National Informatics Centre has informed that the e-way bill is available for gold on the portal. As per the Government recommendation, E-Way Bill generation has been provisioned for movement...

'Mother-in-Law' includable as 'Family Members': ITAT deletes Addition on Excess Gold [Read Order]

The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) while deleting an addition, held that the mother-in-law of the assessee can be treated as a “family member” and therefore, the...

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