Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Interpretation of the Interest Equalisation Scheme and DGFT clarification on whether interest subvention reduces from 5% to 3% from 1 October 2021 for export credit whose tenor extends beyond 30 September 2021 was decided by holding that the phrase "only for the period upto 30th September, 2021" governs benefits to be passed on by the bank, not the credit tenor, and the DGFT clarification confirms tenor is irrelevant. As the bank had discounted export bills and upfront passed the 5% benefit knowing the credit ran beyond 30 September 2021, it could not later claw back the differential; recovery from the exporter was wrongful. Refund of the recovered amount with 8% interest from the recovery date and costs was decreed. - HC
Interpretation of the Interest Equalisation Scheme and DGFT clarification on whether interest subvention reduces from 5% to 3% from 1 October 2021 for export credit whose tenor extends beyond 30 September 2021 was decided by holding that the phrase "only for the period upto 30th September, 2021" governs benefits to be passed on by the bank, not the credit tenor, and the DGFT clarification confirms tenor is irrelevant. As the bank had discounted export bills and upfront passed the 5% benefit knowing the credit ran beyond 30 September 2021, it could not later claw back the differential; recovery from the exporter was wrongful. Refund of the recovered amount with 8% interest from the recovery date and costs was decreed. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
