Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
This public notice amends Appendix 2Y of the Foreign Trade Policy 2023 to exempt goods imported under Advance Authorisation, EOU, and SEZ schemes from mandatory Quality Control Orders (QCOs) issued by certain ministries/departments, when such goods are utilized/consumed in the manufacture of export products. The Ministry of Heavy Industries has been added to the list of exempted ministries/departments under Appendix 2Y, enabling imports of inputs subjected to QCOs issued by this ministry for use in export production. This amendment provides relief to exporters by allowing duty-free import of inputs required for manufacturing export goods, even if those inputs are covered under domestic quality control regulations.
This public notice amends Appendix 2Y of the Foreign Trade Policy 2023 to exempt goods imported under Advance Authorisation, EOU, and SEZ schemes from mandatory Quality Control Orders (QCOs) issued by certain ministries/departments, when such goods are utilized/consumed in the manufacture of export products. The Ministry of Heavy Industries has been added to the list of exempted ministries/departments under Appendix 2Y, enabling imports of inputs subjected to QCOs issued by this ministry for use in export production. This amendment provides relief to exporters by allowing duty-free import of inputs required for manufacturing export goods, even if those inputs are covered under domestic quality control regulations.
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TaxTMI 
TaxTMI 
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