Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Mixed iron ore consignments exported under final self-assessed shipping bills were to be treated as iron ore fines as a whole, and the higher rate for lumps could not be applied by splitting the cargo. For ad valorem export duty, the declared moisture content, Fe content and assessable value at the time of export had to be adopted; subsequent BRC-based realization figures could not replace the declared values. The Tribunal upheld invocation of the extended period and penalty because the declarations were found to be incorrect and material facts had been withheld, and remanded only for recomputation of any differential duty on that basis.
Mixed iron ore consignments exported under final self-assessed shipping bills were to be treated as iron ore fines as a whole, and the higher rate for lumps could not be applied by splitting the cargo. For ad valorem export duty, the declared moisture content, Fe content and assessable value at the time of export had to be adopted; subsequent BRC-based realization figures could not replace the declared values. The Tribunal upheld invocation of the extended period and penalty because the declarations were found to be incorrect and material facts had been withheld, and remanded only for recomputation of any differential duty on that basis.
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