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...
AT adjudicated a foreign exchange contravention case involving unauthorized receipt of funds from outside India. The tribunal found violations under Sections 3(c) and 3(d) of the 1999 Act based on documentary evidence and corroborated statements. The original penalties of Rs. 9 crore and Rs. 1 crore were substantially reduced to Rs. 2.75 crore and Rs. 25 lakhs respectively, considering the case's age. The tribunal directed respondent to adjust Rs. 1 crore from the confiscated amount of Rs. 1,10,95,000, with excess funds to be returned to the appellant. The appellant's prior deposit of Rs. 90 lakhs and bank guarantee of Rs. 1.10 crore were also considered in the final disposition.
AT adjudicated a foreign exchange contravention case involving unauthorized receipt of funds from outside India. The tribunal found violations under Sections 3(c) and 3(d) of the 1999 Act based on documentary evidence and corroborated statements. The original penalties of Rs. 9 crore and Rs. 1 crore were substantially reduced to Rs. 2.75 crore and Rs. 25 lakhs respectively, considering the case's age. The tribunal directed respondent to adjust Rs. 1 crore from the confiscated amount of Rs. 1,10,95,000, with excess funds to be returned to the appellant. The appellant's prior deposit of Rs. 90 lakhs and bank guarantee of Rs. 1.10 crore were also considered in the final disposition.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
