Delegated legislation powers expanded: executive authorised to set detailed tax rules, computations, exemptions and procedural safeguards. The Finance Bill, 2021 expands executive authority to prescribe detailed conditions, computational methods, filing formats and timelines via rules, regulations and notifications across direct and indirect tax laws, including definitions (such as demerger), exemptions and computation methods for income, capital gains and retirement accounts, procedural time limits for customs entries, circumstances for duty absorption, GST return formats and refund safeguards, as well as provisional attachment and disposal procedures for detained goods.
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Provisions expressly mentioned in the judgment/order text.
Delegated legislation powers expanded: executive authorised to set detailed tax rules, computations, exemptions and procedural safeguards.
The Finance Bill, 2021 expands executive authority to prescribe detailed conditions, computational methods, filing formats and timelines via rules, regulations and notifications across direct and indirect tax laws, including definitions (such as demerger), exemptions and computation methods for income, capital gains and retirement accounts, procedural time limits for customs entries, circumstances for duty absorption, GST return formats and refund safeguards, as well as provisional attachment and disposal procedures for detained goods.
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