The scheme allows companies to clear pending filings by paying only 10% of additional fees. It offers limited-time relief from Rs. 100 per day late penalties.
The IBBI has inserted an explanation in Regulation 3 requiring registered valuers to prepare reports and maintain documentation as per a format notified by the Board. The amendment takes effect from publication in the Official Gazette.
The UAE’s success in trade stems from predictable infrastructure, digital customs, and strong banking systems that support scalable cross-border operations.
The amendment replaces earlier valuation rule references with standards notified by the regulator through circulars. It centralizes control over valuation in liquidation proceedings.
DGFT’s sudden reduction in RoDTEP rates reduces FOB margins by 1–2%, compelling exporters to reassess pricing and cost strategies immediately.
The Court quashed withdrawal of tax exemption after holding that franchise fees from affiliated schools were only incidental and not business income.
The Court held that while duty drawback is not eligible for Section 80-IC deduction, excise and customs duties paid on raw materials must be subsumed from the drawback amount. The matter was remanded to the Assessing Officer for fresh computation.
The Court directed time-bound action for implementing an appellate order granting TDS relief. It held that refunds due after success in appeal must not be unnecessarily delayed.
The Court held that a genuine mistake in revised TRAN-1 and TRAN-2 filings cannot nullify substantive transitional ITC claims. It permitted rectification and directed fresh adjudication after verification.
The Court held that the Appellate Authority has no power to remand matters to the adjudicating authority under Section 107(11) of the CGST Act. Remand portions of the appellate orders were set aside and the authority was directed to decide the appeals on merits.
