Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
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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.
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