Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Receipt of a cheque drawn on an NRE account in Indian currency, without any dealing in foreign exchange or unauthorised conversion, did not amount to a contravention under FERA. The Court held that Section 8(1) applies only where there is acquisition, borrowing, transfer, lending or exchange of foreign exchange otherwise than through an authorised dealer, and that neither the cheque nor the admitted facts satisfied that description. Section 8(2) also did not apply because there was no transaction converting Indian currency into foreign currency, or vice versa, at an unauthorised rate. The penalty was therefore unsustainable, and the objection based on alleged suppression of an earlier prima facie criminal order was rejected.
Receipt of a cheque drawn on an NRE account in Indian currency, without any dealing in foreign exchange or unauthorised conversion, did not amount to a contravention under FERA. The Court held that Section 8(1) applies only where there is acquisition, borrowing, transfer, lending or exchange of foreign exchange otherwise than through an authorised dealer, and that neither the cheque nor the admitted facts satisfied that description. Section 8(2) also did not apply because there was no transaction converting Indian currency into foreign currency, or vice versa, at an unauthorised rate. The penalty was therefore unsustainable, and the objection based on alleged suppression of an earlier prima facie criminal order was rejected.
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