Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
The DGFT issued Notification No. 21/2025-26 under the Foreign Trade (Development & Regulation) Act, 1992, imposing port restrictions on specified textile goods imported from Bangladesh. Nine categories of goods including flax, jute, and related textile products under various HS codes are prohibited from entry through India-Bangladesh land border ports and restricted exclusively to Nhava Sheva Seaport. The restriction exempts Bangladesh exports transiting to Nepal/Bhutan through India but prohibits re-export of such goods from Nepal/Bhutan to India. The notification amends ITC (HS) 2022 Schedule 1 Import Policy by adding sub-paragraph 2 to Para 19(1) under General Notes, effective immediately with ministerial approval.
The DGFT issued Notification No. 21/2025-26 under the Foreign Trade (Development & Regulation) Act, 1992, imposing port restrictions on specified textile goods imported from Bangladesh. Nine categories of goods including flax, jute, and related textile products under various HS codes are prohibited from entry through India-Bangladesh land border ports and restricted exclusively to Nhava Sheva Seaport. The restriction exempts Bangladesh exports transiting to Nepal/Bhutan through India but prohibits re-export of such goods from Nepal/Bhutan to India. The notification amends ITC (HS) 2022 Schedule 1 Import Policy by adding sub-paragraph 2 to Para 19(1) under General Notes, effective immediately with ministerial approval.
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TaxTMI 
TaxTMI 
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