Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
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The CBDT issued a notification amending Income-tax Rules, 1962, specifically Form 27EQ, to expand Tax Collection at Source (TCS) provisions under section 206C. The amendment introduces new categories for TCS collection, including sales of luxury and specialized items such as wrist watches, art pieces, collectibles, yachts, sunglasses, bags, shoes, sportswear, home theatre systems, and horses for racing. Each category is assigned a specific code (MA through MJ) for reporting purposes. The amendment becomes effective from the date of publication in the Official Gazette, enhancing tax collection mechanisms for high-value and niche product transactions.
The CBDT issued a notification amending Income-tax Rules, 1962, specifically Form 27EQ, to expand Tax Collection at Source (TCS) provisions under section 206C. The amendment introduces new categories for TCS collection, including sales of luxury and specialized items such as wrist watches, art pieces, collectibles, yachts, sunglasses, bags, shoes, sportswear, home theatre systems, and horses for racing. Each category is assigned a specific code (MA through MJ) for reporting purposes. The amendment becomes effective from the date of publication in the Official Gazette, enhancing tax collection mechanisms for high-value and niche product transactions.
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