Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
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.
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