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...
The AT upheld FEMA violations against the appellant for misdeclaration and gross undervaluation of imported reprocessed plastic granules, finding contravention proved on preponderance of probabilities based on email evidence and witness statements. The tribunal confirmed the appellant instructed overseas suppliers to misclassify goods and understate values, utilizing third-party entities for commission-based imports. While upholding Section 3(d) violations, the AT reduced the penalty from Rs. 60,00,000 to Rs. 30,00,000, finding the original quantum excessive. The tribunal maintained Rs. 10,000 penalties for non-surrender of foreign exchange under prescribed timelines and unauthorized possession of foreign currency totaling USD 780, Malaysian Ringgit 2360, and Singapore Dollar 280, ordering confiscation of the undocumented foreign exchange under Section 13(2) FEMA.
The AT upheld FEMA violations against the appellant for misdeclaration and gross undervaluation of imported reprocessed plastic granules, finding contravention proved on preponderance of probabilities based on email evidence and witness statements. The tribunal confirmed the appellant instructed overseas suppliers to misclassify goods and understate values, utilizing third-party entities for commission-based imports. While upholding Section 3(d) violations, the AT reduced the penalty from Rs. 60,00,000 to Rs. 30,00,000, finding the original quantum excessive. The tribunal maintained Rs. 10,000 penalties for non-surrender of foreign exchange under prescribed timelines and unauthorized possession of foreign currency totaling USD 780, Malaysian Ringgit 2360, and Singapore Dollar 280, ordering confiscation of the undocumented foreign exchange under Section 13(2) FEMA.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
