Declaration of managers, PAN and IEC required from dealers; non-compliance attracts weekly penalty capped by law. Dealers acting as guardians, trustees or on behalf of others must furnish and may revise a declaration naming the manager(s) of the business; dealers must provide the Permanent Account Number (PAN) at registration and disclose any Importer Exporter Code (IEC) at registration or within fifteen days of subsequent acquisition. Failure to furnish or revise the declaration or to provide PAN/IEC details incurs a weekly penalty for the period of default subject to a maximum cap.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Declaration of managers, PAN and IEC required from dealers; non-compliance attracts weekly penalty capped by law.
Dealers acting as guardians, trustees or on behalf of others must furnish and may revise a declaration naming the manager(s) of the business; dealers must provide the Permanent Account Number (PAN) at registration and disclose any Importer Exporter Code (IEC) at registration or within fifteen days of subsequent acquisition. Failure to furnish or revise the declaration or to provide PAN/IEC details incurs a weekly penalty for the period of default subject to a maximum cap.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
