Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
The DGFT issued Notification No. 18/2025-26 under the Foreign Trade (Development & Regulation) Act, 1992, amending import policy conditions for precious metals under Chapter 71 of ITC (HS) 2022. The notification maintains "Free" import policy for palladium, rhodium, and iridium across six specific HS codes (71102100, 71102900, 71103100, 71103900, 71104100, 71104900) covering both unwrought/powder forms and other forms. However, new restrictions were imposed on alloys of these metals containing gold content exceeding one percent by weight, which are now classified as "Restricted" imports. The amendment took immediate effect from June 17, 2025, requiring importers to comply with additional regulatory requirements for gold-containing alloys while maintaining liberalized import regime for pure forms of these precious metals.
The DGFT issued Notification No. 18/2025-26 under the Foreign Trade (Development & Regulation) Act, 1992, amending import policy conditions for precious metals under Chapter 71 of ITC (HS) 2022. The notification maintains "Free" import policy for palladium, rhodium, and iridium across six specific HS codes (71102100, 71102900, 71103100, 71103900, 71104100, 71104900) covering both unwrought/powder forms and other forms. However, new restrictions were imposed on alloys of these metals containing gold content exceeding one percent by weight, which are now classified as "Restricted" imports. The amendment took immediate effect from June 17, 2025, requiring importers to comply with additional regulatory requirements for gold-containing alloys while maintaining liberalized import regime for pure forms of these precious metals.
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