Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
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Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
The Ministry of Finance amended notification No. 57/2017-Customs through powers under Section 25(1) of the Customs Act, 1962, modifying Basic Customs Duty (BCD) rates on components used in manufacturing cellular mobile phone parts and high-tech telecom equipment. Key changes include removal of entry 5E, reduction of duty rates from 2.5% to nil for items under entries 6A, 6B, 6C, and 7, modification of entry 6D to cover "Any Chapter," and revision of item (g) under entry 20 to include PTN and MPLS-TP products. The amendments aim to rationalize import duties on telecom equipment components and will take effect from February 2, 2025.
The Ministry of Finance amended notification No. 57/2017-Customs through powers under Section 25(1) of the Customs Act, 1962, modifying Basic Customs Duty (BCD) rates on components used in manufacturing cellular mobile phone parts and high-tech telecom equipment. Key changes include removal of entry 5E, reduction of duty rates from 2.5% to nil for items under entries 6A, 6B, 6C, and 7, modification of entry 6D to cover "Any Chapter," and revision of item (g) under entry 20 to include PTN and MPLS-TP products. The amendments aim to rationalize import duties on telecom equipment components and will take effect from February 2, 2025.
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