Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Regulation 17 of the Customs Brokers Licensing Regulations, 2018 requires a valid offence report before proceedings to revoke a Customs Broker licence or impose a penalty can be sustained. The text states that absence of such a report invalidates revocation proceedings. It further explains that a Customs Broker who completes Know Your Customer verification and relies on facially genuine exporter documents is not required to investigate declared valuation as an investigating agency. In the absence of evidence of the broker's knowledge, connivance or involvement in exporter overvaluation, the stated licensing obligations concerning due diligence and document verification are not breached; revocation, security forfeiture and penalty are therefore unsustainable.
Regulation 17 of the Customs Brokers Licensing Regulations, 2018 requires a valid offence report before proceedings to revoke a Customs Broker licence or impose a penalty can be sustained. The text states that absence of such a report invalidates revocation proceedings. It further explains that a Customs Broker who completes Know Your Customer verification and relies on facially genuine exporter documents is not required to investigate declared valuation as an investigating agency. In the absence of evidence of the broker's knowledge, connivance or involvement in exporter overvaluation, the stated licensing obligations concerning due diligence and document verification are not breached; revocation, security forfeiture and penalty are therefore unsustainable.
Note: It is a system-generated summary and is for quick reference only.
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