Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
High Court found an ex parte assessment order issued after the petitioner failed to file a reply to a show cause notice was procedurally vitiated for breach of natural justice, quashed the impugned order and remitted the matter to the first respondent for fresh adjudication on merits. The petitioner must deposit 50% of the disputed tax within 30 days and file a reply to the Form DRC-01 show cause notice with supporting documents; overlapping earlier demand may be explained and pre-deposited. On compliance, the respondent shall pass a final order expeditiously and the bank attachment will stand vacated.
High Court found an ex parte assessment order issued after the petitioner failed to file a reply to a show cause notice was procedurally vitiated for breach of natural justice, quashed the impugned order and remitted the matter to the first respondent for fresh adjudication on merits. The petitioner must deposit 50% of the disputed tax within 30 days and file a reply to the Form DRC-01 show cause notice with supporting documents; overlapping earlier demand may be explained and pre-deposited. On compliance, the respondent shall pass a final order expeditiously and the bank attachment will stand vacated.
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