Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The proposed amendment to Rule 21B of the Special Economic Zones Rules, 2006 seeks to broaden the scope of activities allowed within International Financial Services Centres (IFSCs). Originally, Rule 21B permitted units in IFSCs to engage in aircraft leasing activities without the requirement of maintaining a separate office, provided it was approved by the International Financial Services Centre Authority. However, the proposed amendment replaces the term "aircraft leasing" with "aircraft or ship leasing," thereby expanding the types of leasing activities permitted within IFSCs to include both aircraft and ships.
The proposed amendment to Rule 21B of the Special Economic Zones Rules, 2006 seeks to broaden the scope of activities allowed within International Financial Services Centres (IFSCs). Originally, Rule 21B permitted units in IFSCs to engage in aircraft leasing activities without the requirement of maintaining a separate office, provided it was approved by the International Financial Services Centre Authority. However, the proposed amendment replaces the term "aircraft leasing" with "aircraft or ship leasing," thereby expanding the types of leasing activities permitted within IFSCs to include both aircraft and ships.
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