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...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
The public notice announces the launch of the Exchange Rate Automation Module (ERAM) by the Central Board of Indirect Taxes and Customs (CBIC) to automate the process of ascertaining and publishing exchange rates. ERAM will receive exchange rate data from the State Bank of India (SBI) through message exchange, adjust it to the nearest five paise, and integrate it with the Indian Customs EDI System (ICES). The exchange rates will be published on the ICEGATE website at 6:00 p.m. as per the existing frequency and will come into effect from midnight of the following day. A contingency plan has been established to ensure uninterrupted accessibility of exchange rates, involving nodal officers from various agencies to monitor and manually intervene if needed. The automated system became effective from July 4, 2024, replacing the existing system of notifying exchange rates through notifications.
The public notice announces the launch of the Exchange Rate Automation Module (ERAM) by the Central Board of Indirect Taxes and Customs (CBIC) to automate the process of ascertaining and publishing exchange rates. ERAM will receive exchange rate data from the State Bank of India (SBI) through message exchange, adjust it to the nearest five paise, and integrate it with the Indian Customs EDI System (ICES). The exchange rates will be published on the ICEGATE website at 6:00 p.m. as per the existing frequency and will come into effect from midnight of the following day. A contingency plan has been established to ensure uninterrupted accessibility of exchange rates, involving nodal officers from various agencies to monitor and manually intervene if needed. The automated system became effective from July 4, 2024, replacing the existing system of notifying exchange rates through notifications.
Note: It is a system-generated summary and is for quick reference only.