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...
An amendment inserts Para 4.53(e) into the Handbook of Procedures, 2023, authorizing system-related corrective amendments to unutilized and un-transferred Duty Free Import Authorisations (DFIAs) via ANF 4G, subject to Head of Office approval, under powers of the Foreign Trade Policy. The correction facility aims to ease doing business and expressly permits adjustments such as unit-of-measure, ITC HS code, and import value corrections for eligible DFIAs. The change is effective by public notice dated 09 September 2025.
An amendment inserts Para 4.53(e) into the Handbook of Procedures, 2023, authorizing system-related corrective amendments to unutilized and un-transferred Duty Free Import Authorisations (DFIAs) via ANF 4G, subject to Head of Office approval, under powers of the Foreign Trade Policy. The correction facility aims to ease doing business and expressly permits adjustments such as unit-of-measure, ITC HS code, and import value corrections for eligible DFIAs. The change is effective by public notice dated 09 September 2025.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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