Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Alternative statutory remedy under GST bars writ challenge where classification, notice variance, and hearing disputes require factual appellate revie...
End-use based customs duty concession for imported lithium-ion cells applies only where the specified manufacture results in a new product with a distinct nature, character, use or name. Cells damaged, rejected or scrapped during battery or battery-pack assembly or testing, and subsequently sold as scrap, do not satisfy that end-use. In the absence of a separate allowance for process loss or wastage, they are treated as unutilised or defective goods under the IGCR Rules. The concession must therefore be reversed through payment of the differential duty otherwise payable at import, with applicable interest. Duty is calculated on the quantity and value assessed at import, without regard to the scrap sale value.
End-use based customs duty concession for imported lithium-ion cells applies only where the specified manufacture results in a new product with a distinct nature, character, use or name. Cells damaged, rejected or scrapped during battery or battery-pack assembly or testing, and subsequently sold as scrap, do not satisfy that end-use. In the absence of a separate allowance for process loss or wastage, they are treated as unutilised or defective goods under the IGCR Rules. The concession must therefore be reversed through payment of the differential duty otherwise payable at import, with applicable interest. Duty is calculated on the quantity and value assessed at import, without regard to the scrap sale value.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
