Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Para 4.49 (b) of Handbook of Procedures, 2023 amended. If Export Obligation fulfilled in quantity but shortfall in value, no penalty if minimum Value Addition achieved. If Value Addition below prescribed minimum, Authorisation holder to deposit 1% of FOB value shortfall online through DGFT website, reduced from earlier 3%. Composition fee reduced for ease of doing business and reducing compliances.
Para 4.49 (b) of Handbook of Procedures, 2023 amended. If Export Obligation fulfilled in quantity but shortfall in value, no penalty if minimum Value Addition achieved. If Value Addition below prescribed minimum, Authorisation holder to deposit 1% of FOB value shortfall online through DGFT website, reduced from earlier 3%. Composition fee reduced for ease of doing business and reducing compliances.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
