Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Cross Recessed Screws Quality Control Order 2025 instituted a mandatory quality control regime with staged implementation for smaller enterprises; the implementation dates for small and micro enterprises were later deferred. Regulatory responsibility for iron and steel product HSN chapters was transferred to the steel ministry, and in response to stakeholder representations a one-time exemption was granted: consignments with inward entry dates from 1 November 2025 to 12 January 2026 are exempt from the QCO. Officers are instructed to implement the exemption and report difficulties to the Board.
Cross Recessed Screws Quality Control Order 2025 instituted a mandatory quality control regime with staged implementation for smaller enterprises; the implementation dates for small and micro enterprises were later deferred. Regulatory responsibility for iron and steel product HSN chapters was transferred to the steel ministry, and in response to stakeholder representations a one-time exemption was granted: consignments with inward entry dates from 1 November 2025 to 12 January 2026 are exempt from the QCO. Officers are instructed to implement the exemption and report difficulties to the Board.
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