Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
CBIC amends the customs tariff-value notification under section 14(2) of the Customs Act, 1962 by substituting revised Tables 1 to 3 for edible oils, brass scrap, gold, silver and areca nuts. The notification keeps the tariff values unchanged for several items, including crude palm oil, palmolein, crude soya bean oil, brass scrap, gold covered by the specified import entries, and areca nuts, while setting tariff values for silver in specified forms at US$ 2,455 per kilogram and maintaining gold at US$ 1,508 per 10 grams for the listed categories. It takes effect from 20 May 2026.
CBIC amends the customs tariff-value notification under section 14(2) of the Customs Act, 1962 by substituting revised Tables 1 to 3 for edible oils, brass scrap, gold, silver and areca nuts. The notification keeps the tariff values unchanged for several items, including crude palm oil, palmolein, crude soya bean oil, brass scrap, gold covered by the specified import entries, and areca nuts, while setting tariff values for silver in specified forms at US$ 2,455 per kilogram and maintaining gold at US$ 1,508 per 10 grams for the listed categories. It takes effect from 20 May 2026.
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TaxTMI 
TaxTMI 
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