Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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Gold imported outside Reserve Bank of India-authorised bulk-import channels or the passenger-import regime under the Baggage Rules is prohibited goods under the Customs Act, 1962. The definition extends to goods restricted under any law in force and is not limited to prohibitions expressly notified under the Customs Act. Consequently, penalties applicable to improper importation of prohibited goods apply. A penalty order is not jurisdictionally invalid merely because it cites an incorrect provision or does not specify the relevant clause, provided the adjudicating authority had substantive power and its reasoned order identifies the goods as prohibited.
Gold imported outside Reserve Bank of India-authorised bulk-import channels or the passenger-import regime under the Baggage Rules is prohibited goods under the Customs Act, 1962. The definition extends to goods restricted under any law in force and is not limited to prohibitions expressly notified under the Customs Act. Consequently, penalties applicable to improper importation of prohibited goods apply. A penalty order is not jurisdictionally invalid merely because it cites an incorrect provision or does not specify the relevant clause, provided the adjudicating authority had substantive power and its reasoned order identifies the goods as prohibited.
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