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 customs authority will implement system-driven auto-approval of registrations for an incentive bank account and IFSC code across all customs locations when the identical IEC-bank account-IFSC combination has already been approved at any one location. Submission workflow remains unchanged, but qualifying requests will bypass manual port-officer approval and be auto-approved by the system, thereafter proceeding to PFMS for existing validation. The measure aims to speed processing and improve trade experience; stakeholders should report any implementation issues to the Board for resolution.
The customs authority will implement system-driven auto-approval of registrations for an incentive bank account and IFSC code across all customs locations when the identical IEC-bank account-IFSC combination has already been approved at any one location. Submission workflow remains unchanged, but qualifying requests will bypass manual port-officer approval and be auto-approved by the system, thereafter proceeding to PFMS for existing validation. The measure aims to speed processing and improve trade experience; stakeholders should report any implementation issues to the Board for resolution.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
