The government has extended the unrestricted import of Urad for another year. The key takeaway is that importers can continue duty-free imports without policy restrictions until 31 March 2027.
The government extended the Free import policy for Yellow Peas without MIP or port limits. Imports remain subject to online monitoring registration.
The notification prolongs MIP on Virgin Multi-layer Paper Board imports until 30 April 2026. It reinforces regulatory control over import pricing and stabilizes domestic market conditions.
The amendment allows disposal of goods not cleared within 30 days and introduces re-export options after 15 days. It ensures quicker handling of pending consignments and reduces delays.
The notification expands Form E by adding fields on export clearance, e-commerce exports, and export benefits. It mandates supporting documents for transparency. The change strengthens reporting and compliance requirements.
ICAI has postponed the mandatory adoption of new quality management standards. The key takeaway is that SQC 1 will continue to apply until further notice.
The government amended the earlier notification by replacing Table I, II, and III with updated duty structures. The change impacts applicable rates and conditions for specified goods under customs law.
The Act introduces wide-ranging amendments focusing on compliance simplification, penalty rationalisation, and decriminalisation of tax offences. It highlights a shift toward reducing litigation and improving taxpayer ease.
The Court held that a Section 148 notice issued beyond the statutory six-year limitation period is invalid. It ruled that expired limitation cannot be revived through later amendments, rendering the reassessment void.
The issue involved whether concessional customs duty applies to inputs scrapped during manufacturing. The ruling held that absence of explicit provision under applicable rules prevents extension of benefit, reinforcing strict interpretation of exemption notifications.
