Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
A presumptive taxation regime is being introduced for non-resident cruise ship operators, deeming 20% of aggregate receipts as profits and gains from this business. Lease rentals paid by a company opting for this regime to a foreign company, if both are subsidiaries of the same holding company, will be exempt until assessment year 2030-31. Section 44B for presumptive taxation of non-resident shipping business will not apply to cruise ship operations. These amendments will be effective from April 1, 2025, applicable for assessment year 2025-26 onwards, to promote cruise shipping industry in India.
A presumptive taxation regime is being introduced for non-resident cruise ship operators, deeming 20% of aggregate receipts as profits and gains from this business. Lease rentals paid by a company opting for this regime to a foreign company, if both are subsidiaries of the same holding company, will be exempt until assessment year 2030-31. Section 44B for presumptive taxation of non-resident shipping business will not apply to cruise ship operations. These amendments will be effective from April 1, 2025, applicable for assessment year 2025-26 onwards, to promote cruise shipping industry in India.
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