Budget: Exempt entities like non-profits face hurdles due to TCS on transactions. Govt can notify exemptions/lower TCS rates for them. Effective Oct '...
Budget: Amendments clarify penalties for inaccurate info/non-compliance with due diligence under AEoI. Rs. 50K fine for errors/failures. Defense allow...
Substitution of new sections 58, 58A and 58B for section 58 of Customs Act, 1962 - Licensing of private warehouses- Licensing of special warehouses - Cancellation of Licence - The proposed section 58B seeks to vest with the Principal Commissioner of Customs or Commissioner of Customs the power to cancel a licence granted under section 57 or section 58 or section 58A, if the licensee has contravened any provision of the Act or the rules or regulations made thereunder or breached any of the conditions of the licence.
Substitution of new sections 58, 58A and 58B for section 58 of Customs Act, 1962 - Licensing of private warehouses- Licensing of special warehouses - Cancellation of Licence - The proposed section 58B seeks to vest with the Principal Commissioner of Customs or Commissioner of Customs the power to cancel a licence granted under section 57 or section 58 or section 58A, if the licensee has contravened any provision of the Act or the rules or regulations made thereunder or breached any of the conditions of the licence.
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