Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
The Policy Circular No. 02/2024 issued by the Directorate General of Foreign Trade provides clarification on the applicability of payment requirements for non-achievement of minimum Value Addition as per Para 4.49 (b) and 10% of CIF value as per Para 4.49 (a) (ii) of HBP 2023. It states that Advance Authorizations issued before 01.04.2023 are governed by the provisions of the relevant Handbook of Procedure (HBP) under which they were issued, excluding clubbing and extension provisions. The payment provisions specified in Para 4.49(a) (ii) and 4.49(b) apply only to authorizations issued on or after 01.04.2023. The clarification does not allow for a refund of already paid fees.
The Policy Circular No. 02/2024 issued by the Directorate General of Foreign Trade provides clarification on the applicability of payment requirements for non-achievement of minimum Value Addition as per Para 4.49 (b) and 10% of CIF value as per Para 4.49 (a) (ii) of HBP 2023. It states that Advance Authorizations issued before 01.04.2023 are governed by the provisions of the relevant Handbook of Procedure (HBP) under which they were issued, excluding clubbing and extension provisions. The payment provisions specified in Para 4.49(a) (ii) and 4.49(b) apply only to authorizations issued on or after 01.04.2023. The clarification does not allow for a refund of already paid fees.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
