Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Customs exemption and cess schedules for gold, silver, coins and other precious-metal goods are revised by amending Notifications 11/2018-Customs and 11/2021-Customs. The concessional entries are expanded to cover additional tariff headings, including 7107, 7109, 7111, 7112 and 7118, while certain entries are omitted or substituted. Social Welfare Surcharge rates are updated for specified precious-metal goods, including spent catalyst or ash containing precious metals, gold and silver findings, and goods covered by the relevant exemption notification, with separate rates or nil treatment as prescribed. The changes also impose procedural conditions for imported spent catalyst or ash, including an undertaking on precious-metal content and a Ministry of Environment certificate. The notification takes effect from 13 May 2026.
Customs exemption and cess schedules for gold, silver, coins and other precious-metal goods are revised by amending Notifications 11/2018-Customs and 11/2021-Customs. The concessional entries are expanded to cover additional tariff headings, including 7107, 7109, 7111, 7112 and 7118, while certain entries are omitted or substituted. Social Welfare Surcharge rates are updated for specified precious-metal goods, including spent catalyst or ash containing precious metals, gold and silver findings, and goods covered by the relevant exemption notification, with separate rates or nil treatment as prescribed. The changes also impose procedural conditions for imported spent catalyst or ash, including an undertaking on precious-metal content and a Ministry of Environment certificate. The notification takes effect from 13 May 2026.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
