Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
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The article addresses misdeclaration and classification of imported batteries, finding the product description accurate and classification as CTH 85076000/85078000 correct. It reasons that invocation of the extended limitation period requires misdeclaration of description; absent dishonest misdescription or intent to evade duty, extended limitation is inapplicable and penalties imposed under customs penalty provisions cannot be sustained. The piece emphasises that a later departmental reclassification of an import declaration does not itself attract penal consequences where full and correct particulars were furnished.
The article addresses misdeclaration and classification of imported batteries, finding the product description accurate and classification as CTH 85076000/85078000 correct. It reasons that invocation of the extended limitation period requires misdeclaration of description; absent dishonest misdescription or intent to evade duty, extended limitation is inapplicable and penalties imposed under customs penalty provisions cannot be sustained. The piece emphasises that a later departmental reclassification of an import declaration does not itself attract penal consequences where full and correct particulars were furnished.
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