Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Reporting obligations under FEMA's Guarantees Regulations, 2026 are aligned to three prescribed return formats: Form GRN Issue for guarantee issuance, Form GRN Modification for changes in guarantee terms, and Form GRN Invocation for invocation reporting. Authorised dealer banks must submit these returns to the Reserve Bank through CIMS within 30 calendar days from the end of the relevant quarter and assign a unique Guarantee Transaction Number for each guarantee issuance before submission. For late submission fee purposes, the amount involved in delayed Form GRN Invocation reporting is the liability created on invocation, while delayed Form GRN Issue and Form GRN Modification are treated as nil because they do not capture flows. The directions take immediate effect.
Reporting obligations under FEMA's Guarantees Regulations, 2026 are aligned to three prescribed return formats: Form GRN Issue for guarantee issuance, Form GRN Modification for changes in guarantee terms, and Form GRN Invocation for invocation reporting. Authorised dealer banks must submit these returns to the Reserve Bank through CIMS within 30 calendar days from the end of the relevant quarter and assign a unique Guarantee Transaction Number for each guarantee issuance before submission. For late submission fee purposes, the amount involved in delayed Form GRN Invocation reporting is the liability created on invocation, while delayed Form GRN Issue and Form GRN Modification are treated as nil because they do not capture flows. The directions take immediate effect.
Note: It is a system-generated summary and is for quick reference only.
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