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Archive: 15 January 2025

Posts in 15 January 2025

Customs duty cannot be demanded jointly & severally: CESTAT deleted penalty u/s 114A

January 15, 2025 291 Views 0 comment Print

As goods were cleared on the bill of entry of the appellant, hence it was made a party by the department. Differential custom duty was demanded jointly and severally from BGH and appellant.

NFRA Inspection Report 2023 on Lodha & Co. Audit Quality

January 15, 2025 14472 Views 0 comment Print

Summary of NFRA’s audit quality inspection of Lodha & Co., highlighting key deficiencies in audit documentation, independence policies, and quality control systems.

NFRA Inspection Report 2023: Audit Review of M/s BSR & Co. LLP

January 15, 2025 879 Views 0 comment Print

NFRA’s 2023 inspection of M/s BSR & Co. LLP highlighted improvements in audit practices, independence policies, and documentation controls while noting key deficiencies.

NFRA Inspection Report 2023 on MSKA & Associates Audit Quality

January 15, 2025 852 Views 0 comment Print

NFRA’s 2023 inspection of MSKA & Associates highlights audit deficiencies, governance issues, and non-compliance with standards. Detailed findings and areas for improvement.

NFRA Series on Audit Quality: ECL and Auditor-Audit Committee

January 15, 2025 843 Views 0 comment Print

NFRA highlights the ECL audit process under Ind AS 109, promoting better communication between auditors and audit committees for improved financial reporting quality

Exploring the Different Types and Advantages of Recurring Deposit

January 15, 2025 600 Views 0 comment Print

If you’re looking for a safe and steady way to grow your savings, a recurring deposit (RD) could be your ideal option. For those unfamiliar, an RD allows you to invest a fixed amount of money every month for a predetermined tenure.

Tariff Values of Edible Oils, Brass Scrap, Areca Nut, Gold & Silver from January 16, 2025

January 15, 2025 456 Views 0 comment Print

Notification No. 03/2025-Customs updates tariff values for crude palm oil, gold, silver, and more. Effective January 16, 2025, per Customs Act, 1962.

Sea Cargo Manifest and Transshipment (First Amendment) Regulations, 2025

January 15, 2025 768 Views 0 comment Print

 CBIC amends Sea Cargo Manifest and Transshipment Regulations, 2018. Updates include extending a key deadline to March 31, 2025, effective from Gazette publication.

Commercial disagreements, do not fall under anti-competitive practices: CCI

January 15, 2025 243 Views 0 comment Print

CCI dismisses allegations by Rajesh George against Honda India for abuse of dominance, citing lack of evidence and contractual disputes.

Accused Cannot Be Held Beyond 60 Days Without Complaint Under GST Laws: Delhi HC

January 15, 2025 507 Views 0 comment Print

Delhi HC rules that taxpayers cannot be detained beyond 60 days under GST laws if the complaint is not filed. Highlights bail rights under CrPC provisions.

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