Government provides a big relief to MSMEs for COVID-19 period; fulfils promise announced in Union Budget 2023-24 95% of bid or performance security forfeited for failure to execute contracts to be refunded; No interest shall be paid on such refunded amount Relief provided in all contracts for procurement of Goods and Services, entered into by […]
In Circular no. 23 of 2022 dated 03.11.2022, in sub-point (iii) of the point (I) of sub-paragraph (A) of paragraph 28.5, the words two assessment years preceding such assessment year shall be read as any assessment year preceding such assessment year.
In order to recover the tax, penalty, interest and any other dues, bank account of the dealers can be attached by the Ward/Proper Officers under Section 46 of the DVAT Act and Section 78 & 79 of the DGST Act, 2017. Further, Section 46A of the DVAT Act, 2004 and Section 83 of the DGST Act, 2017 provide for provisional attachment to protect the revenue in certain cases.
It is observed that some importers could not file the advance Bills of Entry for the consignments in the vessels granted entry inwards on 01.02.2023 due to the shutdown of services of ICEGATE for the purpose of budget updation in ICES.
CAAR Rule that ata Projector (Model — ZH 350, ZW350e, ZX 350e) are classifiable under sub-heading 8528 62 00 of the first schedule to the Customs Tariff Act, 1975 and would be eligible to avail benefit of Sr. No. 17 of Notification No. 24/2005-Customs, dated 01.03.2005, as amended.
In re Compuage Infocom Ltd. (CAAR Mumbai) CAAR rule that Optoma Creative Touch 3-series Interactive Flat Panel (IFP) (Model – 3652RK, 3752RK, 3862RK) merit classification under Heading 8471 and more specifically under sub-heading 8471 41 90 of the first schedule to the Customs Tariff Act, 1975. FULL TEXT OF THE ORDER OF CUSTOMS AUTHORITY OF […]
In re Hitachi Astemo FIE Private limited (CAAR Delhi) CAAR Delhi held that stepper motor (3800-B07F-0000) proposed to be imported by the applicant for use in manufacture of idle air control valve will be classifiable under Sub-heading 8501 10 12 of the First Schedule of the Customs Tariff FULL TEXT OF THE ORDER OF CUSTOMS […]
Understand how the Finance Bill, 2023 proposes changes to income tax rates, including an increase in the basic exemption limit & a reduced surcharge for income above INR 5,00,00,000
Discover what the Customs Act, 1962 provides on grievance redressal for cargo clearance with promptness & efficiency. Learn how the Citizen’s Charter of the Department envisions objectives & transparency for hassle free clearance.
Learn how Export Promotion Schemes under India’s Foreign Trade Policy 2009-14 & 2015-20 benefit exporters. Discover CBIC’s incentive & duty exemption schemes.
