Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Notification No. 49/2023-Central Tax is amended to insert a new clause covering supplies of specified RSP-declared goods, namely pan masala (2106 90 20) and specified tobacco and nicotine products under headings 2401, 2402, 2403 (excluding biris), 2404 11 00 and 2404 19 00. "Retail sale price" is defined as the maximum price declared on the package inclusive of all taxes and cesses; where multiple RSPs are declared, the highest applies; any increased altered RSP at any stage is deemed the RSP; and area-wise RSPs apply for valuation in the relevant area, with tariff interpretation aligned to the Customs Tariff Act, 1975. The amendment takes effect from 1 February 2026, making RSP the operative basis for valuation of these supplies.
Notification No. 49/2023-Central Tax is amended to insert a new clause covering supplies of specified RSP-declared goods, namely pan masala (2106 90 20) and specified tobacco and nicotine products under headings 2401, 2402, 2403 (excluding biris), 2404 11 00 and 2404 19 00. "Retail sale price" is defined as the maximum price declared on the package inclusive of all taxes and cesses; where multiple RSPs are declared, the highest applies; any increased altered RSP at any stage is deemed the RSP; and area-wise RSPs apply for valuation in the relevant area, with tariff interpretation aligned to the Customs Tariff Act, 1975. The amendment takes effect from 1 February 2026, making RSP the operative basis for valuation of these supplies.
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