Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Goods imported into a Free Trade and Warehousing Zone (FTWZ) by an entity based in Hong Kong were alleged to be non-compliant with Foreign Trade Policy (FTP) and other laws. The Tribunal held that import of 'old and used computer parts' is not barred from being brought into a special economic zone (SEZ). No bill of entry was filed, and there was no evidence of intent to clear goods into the domestic tariff area (DTA) inappropriately. SEZs are deemed outside the customs territory under the Special Economic Zone Act, 2005. The Customs Act, 1962 applies only for imports contrary to authorized operations or upon removal from SEZ without paying duty or violating import prohibitions. The Special Economic Zone Act prevails in case of conflict. The finding of confiscation u/s 111 of Customs Act and penalty u/s 112 were erroneous. The impugned order was set aside, and the appeal was allowed.
Goods imported into a Free Trade and Warehousing Zone (FTWZ) by an entity based in Hong Kong were alleged to be non-compliant with Foreign Trade Policy (FTP) and other laws. The Tribunal held that import of 'old and used computer parts' is not barred from being brought into a special economic zone (SEZ). No bill of entry was filed, and there was no evidence of intent to clear goods into the domestic tariff area (DTA) inappropriately. SEZs are deemed outside the customs territory under the Special Economic Zone Act, 2005. The Customs Act, 1962 applies only for imports contrary to authorized operations or upon removal from SEZ without paying duty or violating import prohibitions. The Special Economic Zone Act prevails in case of conflict. The finding of confiscation u/s 111 of Customs Act and penalty u/s 112 were erroneous. The impugned order was set aside, and the appeal was allowed.
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