Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The document outlines significant tariff and duty changes in customs and GST legislation effective from 2025. Key modifications include reduction in tariff rates for motor vehicles (from 40% to 20% for transport vehicles, 125% to 70% for passenger vehicles), motorcycles (100% to 70%), and bicycles (35% to 20%). The Customs Act introduces voluntary revision of entry post-clearance and establishes a two-year time limit for finalizing provisional assessments. Notable GST amendments include new Track and Trace mechanisms, mandatory 10% pre-deposit for penalty-only appeals, and clarification on input tax credit distribution. The Settlement Commission will be abolished from April 1, 2025, with pending cases transferred to Interim Boards. These changes aim to streamline tax administration and modify duty structures across various sectors.
The document outlines significant tariff and duty changes in customs and GST legislation effective from 2025. Key modifications include reduction in tariff rates for motor vehicles (from 40% to 20% for transport vehicles, 125% to 70% for passenger vehicles), motorcycles (100% to 70%), and bicycles (35% to 20%). The Customs Act introduces voluntary revision of entry post-clearance and establishes a two-year time limit for finalizing provisional assessments. Notable GST amendments include new Track and Trace mechanisms, mandatory 10% pre-deposit for penalty-only appeals, and clarification on input tax credit distribution. The Settlement Commission will be abolished from April 1, 2025, with pending cases transferred to Interim Boards. These changes aim to streamline tax administration and modify duty structures across various sectors.
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TaxTMI 
TaxTMI 
