Call-recording requirements for institutional-investor client communications become non-mandatory, while institutional-investor status adopts the exis...
Restricted silver imports may clear under a valid import authorisation without additional status or exchange-routing requirements unless expressly imp...
Head Office cost allocation requires prescribed transfer-pricing methods; treaty ceilings bar surcharge and cess, while duplicate taxation is excluded...
Customs-duty liability for pilfered imported goods arises under Section 45(3) only where the goods were unloaded in a customs area and pilfered while in the custody of a person approved under Section 45(1). Approval is a necessary precondition, so liability does not extend to pilferage before the approval became operative. A statutory port authority may be an approved custodian, and its civil responsibilities as bailee do not displace its separate revenue liability. The importer's duty exemption for pilferage operates alongside the custodian's statutory obligation. Pilferage, rather than an unexplained cargo discrepancy or non-pilferage loss, must be established through contemporaneous custody and security records.
Customs-duty liability for pilfered imported goods arises under Section 45(3) only where the goods were unloaded in a customs area and pilfered while in the custody of a person approved under Section 45(1). Approval is a necessary precondition, so liability does not extend to pilferage before the approval became operative. A statutory port authority may be an approved custodian, and its civil responsibilities as bailee do not displace its separate revenue liability. The importer's duty exemption for pilferage operates alongside the custodian's statutory obligation. Pilferage, rather than an unexplained cargo discrepancy or non-pilferage loss, must be established through contemporaneous custody and security records.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
