Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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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