Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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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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