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...
The International Financial Services Centres Authority (IFSCA) issued the 'International Financial Services Centre Authority (Informal Guidance) Scheme, 2024' to provide a mechanism for seeking clarity and guidance on various issues pertaining to potential business activities, transactions, and legal matters under IFSCA's regulatory ambit. The scheme allows eligible persons, such as those licensed by IFSCA, intending to undertake regulated transactions, or planning to set up units in IFSC, to apply for informal guidance in the form of no-action letters or interpretive letters. The scheme outlines the application process, types of guidance, dissemination on IFSCA's website, confidentiality provisions, and the non-binding nature of the informal guidance.
The International Financial Services Centres Authority (IFSCA) issued the 'International Financial Services Centre Authority (Informal Guidance) Scheme, 2024' to provide a mechanism for seeking clarity and guidance on various issues pertaining to potential business activities, transactions, and legal matters under IFSCA's regulatory ambit. The scheme allows eligible persons, such as those licensed by IFSCA, intending to undertake regulated transactions, or planning to set up units in IFSC, to apply for informal guidance in the form of no-action letters or interpretive letters. The scheme outlines the application process, types of guidance, dissemination on IFSCA's website, confidentiality provisions, and the non-binding nature of the informal guidance.
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