Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The DGFT has introduced a new 'Diamond Imprest Authorisation' (DIA) scheme under Chapter 4 of the Foreign Trade Policy 2023. The DIA allows import of natural cut and polished diamonds weighing up to 4 carats against physical export of cut and polished diamonds with 10% minimum value addition. Eligible exporters with two-star status and $15 million annual diamond export for last 3 years can import up to 5% of average annual exports, maximum $15 million. Imports are exempted from customs duties and IGST/Compensation Cess. Export obligation must be fulfilled within 6 months through Mumbai airport. The scheme aims to boost India's diamond exports.
The DGFT has introduced a new 'Diamond Imprest Authorisation' (DIA) scheme under Chapter 4 of the Foreign Trade Policy 2023. The DIA allows import of natural cut and polished diamonds weighing up to 4 carats against physical export of cut and polished diamonds with 10% minimum value addition. Eligible exporters with two-star status and $15 million annual diamond export for last 3 years can import up to 5% of average annual exports, maximum $15 million. Imports are exempted from customs duties and IGST/Compensation Cess. Export obligation must be fulfilled within 6 months through Mumbai airport. The scheme aims to boost India's diamond exports.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
