Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
The government notifies that for assessment year 2025-26 an international or specified domestic transaction's actual price will be deemed the arm's-length price if the difference between the arm's-length price under section 92C and the actual transaction price does not exceed 1% of the actual price for wholesale trading and 3% for all other cases. Wholesale trading is defined by (a) finished goods purchase cost ≥80% of total trading costs and (b) average monthly closing inventory ≤10% of related sales. The explanatory memorandum states the tolerance ranges and that no one will be adversely affected by retrospective application.
The government notifies that for assessment year 2025-26 an international or specified domestic transaction's actual price will be deemed the arm's-length price if the difference between the arm's-length price under section 92C and the actual transaction price does not exceed 1% of the actual price for wholesale trading and 3% for all other cases. Wholesale trading is defined by (a) finished goods purchase cost ≥80% of total trading costs and (b) average monthly closing inventory ≤10% of related sales. The explanatory memorandum states the tolerance ranges and that no one will be adversely affected by retrospective application.
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