Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
AD Category-I banks must report OTC foreign exchange derivative contracts involving INR undertaken globally by their related parties to the CCIL trade repository. The reporting covers deliverable and non-deliverable contracts, while back-to-back transactions and transactions with other AD Category-I banks in India may be excluded because they are already reported under existing instructions. The bank may omit contracts with notional value not exceeding USD 1 million or equivalent. From July 1, 2027 and phased through July 1, 2028, banks must meet progressive coverage thresholds for related-party reporting, ultimately reporting all such INR-linked contracts other than the parent's transactions. Reports must include meaningful transaction details and be filed preferably on trade date, and in any event within two working days.
AD Category-I banks must report OTC foreign exchange derivative contracts involving INR undertaken globally by their related parties to the CCIL trade repository. The reporting covers deliverable and non-deliverable contracts, while back-to-back transactions and transactions with other AD Category-I banks in India may be excluded because they are already reported under existing instructions. The bank may omit contracts with notional value not exceeding USD 1 million or equivalent. From July 1, 2027 and phased through July 1, 2028, banks must meet progressive coverage thresholds for related-party reporting, ultimately reporting all such INR-linked contracts other than the parent's transactions. Reports must include meaningful transaction details and be filed preferably on trade date, and in any event within two working days.
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