CBIC outlines procedures for importing/exporting gems, jewellery, and samples via personal carriage, ensuring streamlined electronic processing and compliance.
Finance Ministry amends Customs Notification 22/2022, effective April 1, 2025, through Notification 21/2025, altering Table I.
ITAT Ahmedabad held that as per the provisions of Section 167B of the Income Tax Act, Maximum Marginal Rate (MMR) is applicable on entire income of AOP if any one member of the AOP is taxable at a rate higher than MMR.
Vide the present appeal it is mainly contesting that when a cell phone is sold along with a charger, there is only one Maximum Retail Price (MRP) stated on the packaging and therefore, Entry 28 has to be read in the context of the said facts.
ITAT Surat held that addition under section 68 of the Income Tax Act treating transaction as bogus merely on the basis of suspicion, presumptions and probability is not sustainable in law. Accordingly, appeal of assessee allowed.
During the assessment proceedings, it was observed that the assessee sold two trademarks “Coldarin” and “Raricap”. The gains accrued on the transfer of both these capital assets gave rise to income chargeable to tax under the head “Capital Gains”.
All CGST field formations will be operational on 29th, 30th, and 31st March 2025 to ensure uninterrupted service during the financial year-end.
CBIC amends Sea Cargo Manifest and Transshipment Regulations, extending deadlines for compliance. Effective from publication in the Official Gazette.
CBIC appoints adjudicating authorities for customs cases involving multiple noticees. The notification takes effect upon its publication in the Official Gazette.
CBIC issues Postal Imports Regulations, 2025, outlining rules for customs clearance, restricted items, and assessment of imported goods via Foreign Post Offices.
