Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Provisional clearance of ongoing and future imports claiming specified customs exemption benefits was made conditional during the pendency of an appeal. Arguable issues were identified for final hearing, while Revenue's interest in securing potential duty liabilities required protection. High Court therefore adopted an equitable interim arrangement rather than granting an unconditional stay of the customs appellate order. Importers may clear consignments provisionally by furnishing a bond covering the full differential duty, including applicable duties, cess and surcharges, and a bank guarantee for half of that differential duty. The arrangement is without prejudice to the final appeal, and all rights and contentions remain open.
Provisional clearance of ongoing and future imports claiming specified customs exemption benefits was made conditional during the pendency of an appeal. Arguable issues were identified for final hearing, while Revenue's interest in securing potential duty liabilities required protection. High Court therefore adopted an equitable interim arrangement rather than granting an unconditional stay of the customs appellate order. Importers may clear consignments provisionally by furnishing a bond covering the full differential duty, including applicable duties, cess and surcharges, and a bank guarantee for half of that differential duty. The arrangement is without prejudice to the final appeal, and all rights and contentions remain open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
