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...
The HC held that the petitioners' chewing tobacco products are to be classified under Heading 2403 99 10 of the Customs Tariff Act, 1975, attracting a higher compensation cess of 160% under the GST (Compensation to States) Act, 2017. The petitioners cannot change the classification merely for rate benefit. The Advance Rulings classifying the products under 2403 99 10 are binding. The food safety regulations do not impact the GST classification. The petition was dismissed.
The HC held that the petitioners' chewing tobacco products are to be classified under Heading 2403 99 10 of the Customs Tariff Act, 1975, attracting a higher compensation cess of 160% under the GST (Compensation to States) Act, 2017. The petitioners cannot change the classification merely for rate benefit. The Advance Rulings classifying the products under 2403 99 10 are binding. The food safety regulations do not impact the GST classification. The petition was dismissed.
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