Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Under the Customs Broker Licensing Regulations, 2018, proper client authorisation need not be received directly from the importer where authorisation letters are available. A Customs Broker is not shown to have failed in its duty to advise clients merely because inferior quality or overvaluation is detected after First Check assessment, physical examination and valuation by approved valuers, absent evidence of deficient advice. KYC obligations are met by obtaining IEC, GSTIN, PAN and other documents issued by competent authorities; the regulations do not require independent verification of every document or physical verification of the importer's premises. On these principles, alleged breaches of the authorisation, advisory and KYC duties were not established, and licence revocation and security forfeiture were set aside.
Under the Customs Broker Licensing Regulations, 2018, proper client authorisation need not be received directly from the importer where authorisation letters are available. A Customs Broker is not shown to have failed in its duty to advise clients merely because inferior quality or overvaluation is detected after First Check assessment, physical examination and valuation by approved valuers, absent evidence of deficient advice. KYC obligations are met by obtaining IEC, GSTIN, PAN and other documents issued by competent authorities; the regulations do not require independent verification of every document or physical verification of the importer's premises. On these principles, alleged breaches of the authorisation, advisory and KYC duties were not established, and licence revocation and security forfeiture were set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
