Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
This circular clarifies the regularization of refund of IGST availed in contravention of rule 96(10) of the WBGST Rules, 2017, where exporters had initially imported inputs without paying integrated taxes and compensation cess by availing benefits under certain notifications, but subsequently paid the IGST, compensation cess, and interest on such imported inputs. It states that if the Bill of Entry for import is reassessed by Customs authorities to reflect the payment of IGST and compensation cess, the refund of IGST paid on exports shall not be considered in contravention of rule 96(10). The circular provides a retrospective clarification on the applicability of the Explanation inserted in rule 96(10) through a notification, allowing regularization of such refunds by subsequent payment of taxes and reassessment.
This circular clarifies the regularization of refund of IGST availed in contravention of rule 96(10) of the WBGST Rules, 2017, where exporters had initially imported inputs without paying integrated taxes and compensation cess by availing benefits under certain notifications, but subsequently paid the IGST, compensation cess, and interest on such imported inputs. It states that if the Bill of Entry for import is reassessed by Customs authorities to reflect the payment of IGST and compensation cess, the refund of IGST paid on exports shall not be considered in contravention of rule 96(10). The circular provides a retrospective clarification on the applicability of the Explanation inserted in rule 96(10) through a notification, allowing regularization of such refunds by subsequent payment of taxes and reassessment.
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