"12 June 2023" Archive

Digitization of AEO Programme for Ease of Doing Business: Submission of AEO Applications Goes Online

Public Notice No. 49/2023 12/06/2023

Office of the Commissioner of Customs, NS-III introduces a web-based portal for the digitization of the Authorized Economic Operator (AEO) programme. This public notice highlights the dispensing of physical submission of documents for AEO applications, emphasizing the ease of doing business. ...

Penalties under Securities Contract Regulation Act, 1956

Explore the comprehensive analysis of penalties under the Securities Contract (Regulation) Act, 1956, shedding light on various offenses, including contract violations, information disclosure, investor grievances, and more. Understand the repercussions, including imprisonment and fines extendable up to rupees 25 crores, imposed for non-co...

Posted Under: Custom Duty |

Understanding Dominant Position and Its Impact on Competition

: Explore the concept of dominant position, factors determining it, and the effects of its abuse in the context of competition law. Gain valuable insights into market power, anti-competitive practices, and the importance of fair competition....

Posted Under: Custom Duty |

Virtual CFO: Bridging Financial Expertise and Flexibility

In today's fast-paced business landscape, companies face the challenge of managing their financial operations effectively while also seeking flexibility and cost-efficiency....

Posted Under: Custom Duty |

CBIC notifies Exchange rate of ‘South African Rand’ for Import & Export wef 13.06.2023

Notification No. 42/2023- Customs (N.T.) 12/06/2023

CBIC notifies Exchange rate of ‘South African Rand’ for Import & Export wef 13.06.2023 vide Notification No.42/2023- Customs (N.T.) Dated: 12th June, 2023. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No.42/2023- Customs (N.T.) | Dated: 12th ...

Interactive Display System (View Board) falls under Heading 8471: CAAR

In re Brightpoint India Pvt. Ltd. (CAAR Mumbai)

CAAR Mumbai determines Interactive Display System (View Board) models are classified under Heading 8471, specifically under sub-heading 84714190, as per Customs Tariff Act, 1975, aligning with the criteria for Automatic Data Processing Machines....

LED Socket Plug Assembly merit classification under Heading 8512: CAAR

In re M/s. India Japan Lighting Private Limited (CAAR Mumbai)

CAAR Mumbai rules 'LED Socket Plug Assembly' used in vehicle anti-fog lamps classifies under Heading 8512 90 00 of Customs Tariff Act, 1975, and is eligible for nil Basic Custom Duty under serial no. 656 of notification No. 69/2011-Cus., dated 29.7.2011, as per India-Japan Free Trade Agreement....

CAAR rejects application on the ground of lack of jurisdiction

In Re M/s. Solae Company India Private Limited (CAAR Mumbai)

CAAR Mumbai rejects M/s. Solae Company India Private Limited's application for advance ruling due to jurisdiction issues, as the company's office is in Gurgaon, under CAAR Delhi's jurisdiction, not Mumbai's. The company had inaccurately used their logistics service provider's address in Mumbai....

Reimbursable expenses cannot be subject to levy of service tax

S.K. Cars India (P) Ltd Vs Commissioner of GST & Central Excise (CESTAT Chennai)

CESTAT Chennai held that reimbursable expenses cannot be subject to levy of service tax. Accordingly, demand of service tax set aside as not sustainable...

Benefit of exemption u/s 11 not deniable for delay in furnishing of Form No. 10B

ITO Vs Laxmanarayan Dev Shrishan Seva Khendra

ITAT Ahmedabad held that benefit of exemption under section 11 of the Income Tax Act cannot be denied merely on account of delay in furnishing of audit report in Form No. 10B....

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