Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
The Central Excise (Amendment) Rules, 2026 insert identical provisos in rules 18 and 19 to exclude motor spirit (petrol), high-speed diesel oil and aviation turbine fuel from the rebate and export-without-payment-of-duty framework, except where exported by Public Sector Oil Companies to Nepal, Bhutan, Bangladesh and Sri Lanka. The amendment takes immediate effect and narrows the scope of export concessions for these specified petroleum products, while preserving the stated exception for exports by Public Sector Oil Companies to the named neighbouring countries.
The Central Excise (Amendment) Rules, 2026 insert identical provisos in rules 18 and 19 to exclude motor spirit (petrol), high-speed diesel oil and aviation turbine fuel from the rebate and export-without-payment-of-duty framework, except where exported by Public Sector Oil Companies to Nepal, Bhutan, Bangladesh and Sri Lanka. The amendment takes immediate effect and narrows the scope of export concessions for these specified petroleum products, while preserving the stated exception for exports by Public Sector Oil Companies to the named neighbouring countries.
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