Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
Procedures for bank guarantees and customs bonds under Indian customs law, detailing obligations for importers/exporters (obligors) and banks. Key provisions include: The bank guarantee framework requires banks to undertake payment to the government up to a specified amount in case of breach by obligors. Banks must provide unconditional guarantees without demur upon government demand, with liability restricted to the guaranteed amount. The guarantee remains effective until obligations are fulfilled and certified by relevant authorities. Banks cannot revoke guarantees during currency without prior government consent. Electronic transmission through SFMS (Structured Financial Messaging System) is mandatory for operationalizing paper bank guarantees, with specific message formats and field requirements. Non-compliance with SFMS procedures may prevent guarantee confirmation and subsequent processing.
Procedures for bank guarantees and customs bonds under Indian customs law, detailing obligations for importers/exporters (obligors) and banks. Key provisions include: The bank guarantee framework requires banks to undertake payment to the government up to a specified amount in case of breach by obligors. Banks must provide unconditional guarantees without demur upon government demand, with liability restricted to the guaranteed amount. The guarantee remains effective until obligations are fulfilled and certified by relevant authorities. Banks cannot revoke guarantees during currency without prior government consent. Electronic transmission through SFMS (Structured Financial Messaging System) is mandatory for operationalizing paper bank guarantees, with specific message formats and field requirements. Non-compliance with SFMS procedures may prevent guarantee confirmation and subsequent processing.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
