Electronic certificates of origin enable preferential tariffs under the India-New Zealand FTA when format, verification, and filing requirements are m...
Customs approval for liquid cargo exports extends designated jetty operations while existing boarding station and customs area limits remain unchanged...
Mandatory compliance document verification now conditions out-of-charge clearance for imported cosmetics, drugs, and medical devices through PGA-facil...
Double taxation of turnover requires holistic verification across separately registered units and permits limited rectification of overlapping assessm...
A disputed refund of advance paid for supply of goods was not treated as an undisputed operational debt, because the parties had continued negotiations, entered a later settlement arrangement, and the corporate debtor had asserted forfeiture for failure to lift stock within time. On that basis, debt and default were held not to coexist for Section 9 insolvency relief, and any challenge to forfeiture had to be pursued elsewhere. The Tribunal also held that limitation ran from the first refund demand, so the insolvency notice issued more than three years later was time-barred under Article 137. The Section 9 application was therefore dismissed.
A disputed refund of advance paid for supply of goods was not treated as an undisputed operational debt, because the parties had continued negotiations, entered a later settlement arrangement, and the corporate debtor had asserted forfeiture for failure to lift stock within time. On that basis, debt and default were held not to coexist for Section 9 insolvency relief, and any challenge to forfeiture had to be pursued elsewhere. The Tribunal also held that limitation ran from the first refund demand, so the insolvency notice issued more than three years later was time-barred under Article 137. The Section 9 application was therefore dismissed.
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TaxTMI 
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