Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
The Government of India, Ministry of Commerce & Industry, Department of Commerce, Directorate General of Foreign Trade, issued Public Notice No. 08/2024-25 on 03.06.2024, amending Appendix 6B of FTP/HBP, 2023 u/s 1.03 and 2.04 of the Foreign Trade Policy, 2023. The amendment specifies that for spices covered by Chapter 9 of the ITC(HS) Code, a minimum value addition of 25% is required when both export and import items are under Chapter 9. In all other cases, the value addition required is 15%. This change aligns with Chapter 4 of the FTP/HBP, ensuring consistency in value addition requirements for spices.
The Government of India, Ministry of Commerce & Industry, Department of Commerce, Directorate General of Foreign Trade, issued Public Notice No. 08/2024-25 on 03.06.2024, amending Appendix 6B of FTP/HBP, 2023 u/s 1.03 and 2.04 of the Foreign Trade Policy, 2023. The amendment specifies that for spices covered by Chapter 9 of the ITC(HS) Code, a minimum value addition of 25% is required when both export and import items are under Chapter 9. In all other cases, the value addition required is 15%. This change aligns with Chapter 4 of the FTP/HBP, ensuring consistency in value addition requirements for spices.
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