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Act Rules Bills
Procedural Autonomy and Judicial Independence in Tax Appeals : Clause 364 of the Income Tax Bill, 20...
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Procedural autonomy preserved in appellate tribunal; statutory cross references modernized while e governance provisions omitted, affecting bench practice.
Clause 364 maintains the President's authority to constitute Benches, preserves the dual Judicial and Accountant member default and Special Benches for significant issues, permits single member disposal for lower value matters subject to presidential or authorised member designation, grants the Tribunal procedural autonomy and quasi judicial powers, modernises cross references to new penal and procedural statutes, and omits previous express provisions enabling executive notification of e governance schemes, raising transitional and implementation questions.
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Tribunal Orders: stay limits and rectification rules balance taxpayer rights and revenue protection in the appellate process.
Clause 363 establishes the Tribunal's authority to decide appeals after hearing parties, permits rectification of mistakes apparent from record within a prescribed period subject to a nominal fee and hearing where liability is increased, and prescribes an aspirational timeline for disposal. It provides a conditional stay-of-recovery regime requiring deposit or security with limited extension criteria and automatic vacation if disposal does not occur within the aggregate period; the Tribunal may award costs, must communicate orders to the assessee and Commissioner, and its orders are final save for specified statutory exceptions.
Act Rules Bills
Reforming the Appellate Process : Clause 362 of the Income Tax Bill, 2025 Vs. Section 253 of the Inc...
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Appeals to Appellate Tribunal: modernized scope, uniform timelines, cross-objection rights, fee rationalisation preserved.
Clause 362 modernizes appeals to the Appellate Tribunal by listing appealable orders across the reorganized administrative hierarchy, prescribing a uniform filing period, permitting respondents to file cross-objections treated as independent appeals, allowing the Tribunal to condone delay for sufficient cause, and setting form, verification and a progressive fee regime while exempting revenue appeals and cross-objections from fees.
Act Rules Bills
Tribunal Independence and Service Conditions : Clause 361(2) of the Income Tax Bill, 2025 and Sectio...
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Tribunal independence: bifurcated appointment and service rules safeguard ITAT members' conditions and transitional rights.
Clause 361(2) and Section 252A use non obstante language to govern ITAT members' qualifications, appointments, term, salaries, allowances, resignation and removal by bifurcating applicable regimes: post Tribunals Reforms Act, 2021 appointees are governed by Chapter II of that Act (detailing qualifications, a Search cum Selection Committee, tenure and service conditions), while pre Finance Act, 2017 appointees remain governed by the Income tax Act, 1961 and its rules as if the contested Finance Act provision had not come into force.
Act Rules Bills
Transformation of Tribunal Administration in Indian Tax Law : Clause 361(1), (3) to (5) of the Incom...
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Appellate tribunal constitution updated to centralize appointments and delegate presidential powers, affecting tribunal independence and transitional safeguards.
Clause 361 maintains a multi member Appellate Tribunal of Judicial and Accountant Members while empowering the Central Government to determine member strength; mandates that the President be a High Court judge with substantial judicial experience or a Vice President; permits appointment of one or more Vice Presidents; and authorizes delegation of presidential powers to Vice Presidents by written order. The clause defers detailed eligibility and service conditions to the general tribunal framework and includes a transitional rule preserving pre existing service conditions for incumbents.
Act Rules Bills
Legal Framework and Practical Impact of Appellate Powers in Indian Taxation: : Clause 360 of the Inc...
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Appellate Powers: authority to modify assessments and penalties subject to a reasonable opportunity to be heard.
The appellate authorities may confirm, reduce, enhance, or annul assessments and may confirm, cancel, or vary penalty orders; the Commissioner (Appeals) alone may set aside assessments and remit for fresh assessment in specified cases. Any enhancement of assessment or penalty or reduction of refund requires a reasonable opportunity for the appellant to show cause. The appellate authority may consider and decide any matter arising from the proceedings, and must take into account materials produced before the Settlement Commission where proceedings abate.
Act Rules Bills
Continuity and Change in Income Tax Appellate Procedures : Clause 359 of the Income Tax Bill, 2025 V...
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Appeal procedure: preservation of right to be heard, reasoned orders, and discretionary powers for inquiry and additional grounds.
Clause 359 sets the appellate procedure before first instance tax authorities, affirming the right to be heard, notice of hearing, powers to adjourn and direct further inquiry, discretion to admit additional grounds of appeal if omission was not wilful or unreasonable, a requirement for written reasoned orders specifying points for determination and decisions, a directory timeline aiming at one year disposal where possible, and communication of orders to the assessee and appropriate senior tax officials.
Act Rules Bills
Procedure and Limitation for Tax Appeals : Clause 358 of the Income Tax Bill, 2025 Vs. Section 249 o...
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Appeal procedure: prescribed form, 30 day limitation, pre deposit requirement with written reason exemptions permitted.
Clause 358 preserves the Section 249 appellate framework by requiring appeals in prescribed form and verification, imposing a graded appeal fee related to assessed income, and setting a thirty day limitation from service of the order or demand. It excludes time spent on specified relief applications from limitation, permits condonation of delay for sufficient cause, and conditions admission on payment of tax on returned income or advance tax where no return is filed, while allowing written reason exemptions from the advance payment requirement.
Act Rules Bills
Redefining Appellate Jurisdiction in Indian Tax Law : Clause 357 of the Income Tax Bill, 2025 Vs. Se...
Show AI Summary
Appellate jurisdiction redefined: Clause 357 sets scope of appealable tax orders and preserves DRP-related exclusions.
Clause 357 defines the orders appealable to the Commissioner (Appeals), listing assessment, reassessment, recomputation, intimation adjustments, orders treating a person as agent of a non-resident, and penalty orders, while preserving exclusions for orders following Dispute Resolution Panel directions and allowing the Board to specify additional appealable cases; it updates and consolidates categories previously under Section 246A and raises interpretive issues concerning exclusions, newly numbered sections, penalty consolidation, and transitional treatment of pending appeals.
Act Rules Bills
Evolution of Appellate Remedies in Indian Income Tax Law : Clause 356 of the Income Tax Bill, 2025 V...
Show AI Summary
Appellate scope reform consolidates appealable orders, enables faceless appeals and transfers while preserving rehearing safeguards.
Clause 356 prescribes an exhaustive list of appealable orders before the Joint Commissioner (Appeals), defines "status" by cross reference, prohibits appeals where orders are passed by or with approval of authorities above Deputy Commissioner, and empowers the Board to transfer appeals between JCIT(A) and Commissioner (Appeals) with a mandated opportunity of rehearing. It formally enables a government notified faceless disposal scheme-permitting elimination of physical interface and modification of procedural provisions-and authorizes the Board to exclude specified cases or classes from the section's operation.
Act Rules Bills
Appellate Remedies against Advance Rulings : Clause 389 of the Income Tax Bill, 2025 Vs. Section 245...
Show AI Summary
Right of appeal to High Court preserves judicial review over advance rulings with limited condonation and streamlined procedure.
Clause 389 grants a statutory right of appeal to the High Court against rulings or orders of the Board for Advance Rulings and certain Assessing Officer actions, mandates filing in the prescribed form and manner within a limited period, allows judicial condonation for a short additional interval, omits prior executive scheme-making and modification powers, and relies on Rule 44FA to integrate appeal procedure with jurisdictional High Court practice.
Act Rules Bills
Evolution of Procedural Regulation in Advance Rulings under Indian Tax Law : Clause 388 of Income Ta...
Show AI Summary
Procedural autonomy for advance rulings enables the Board to set its own procedures, heightening calls for transparency and safeguards.
Clause 388 vests the Board for Advance Rulings with broad power to regulate its own procedure, subject to the relevant Chapter, enabling the Board to prescribe filing rules, hearing modes, timelines, evidence protocols, order formats and confidentiality mechanisms, while the institutional shift from a quasi judicial Authority to an administrative Board raises concerns about explicit natural justice safeguards, transparency, consistency and the scope of judicial review.
Act Rules Bills
The Transformation of Advance Rulings Powers under Indian Tax Law : Clause 387 of the Income Tax Bil...
Show AI Summary
Advance Rulings powers modernisation clarifies BAR's quasi judicial authority and civil court powers under reformed procedural codes.
Clause 387 modernises the powers and status of the Board for Advance Rulings by vesting it with civil court powers to summon witnesses, compel document production, receive affidavit evidence and exercise other adjudicatory functions, and by deeming its proceedings to be judicial proceedings that attract penal consequences for perjury and related offences, while limiting the civil court status to specified purposes and aligning cross references with reformed procedural and penal codes.
Act Rules Bills
Fraud, Misrepresentation, and the Void Ab Initio Doctrine in Advance Rulings : Clause 386 of the Inc...
Show AI Summary
Void ab initio of advance rulings: fraud or misrepresentation may nullify rulings and restore ordinary tax provisions.
Clause 386 empowers the Board for Advance Rulings to declare an advance ruling void ab initio if found to have been obtained by fraud or misrepresentation, on representation by the Principal Commissioner or Commissioner or otherwise; the Act is to apply as if no ruling had been made (excluding the period the ruling was in force), and a copy of the order must be sent to the applicant and the tax authority.
Act Rules Bills
Jurisdictional Bar on Parallel Proceedings : Clause 385 of the Income Tax Bill, 2025 Vs. Section 245...
Show AI Summary
Jurisdictional bar on parallel proceedings preserves advance rulings' exclusivity for resident applicants and prevents conflicting adjudication.
Clause 385 imposes a jurisdictional bar barring income tax authorities and the Appellate Tribunal from deciding any issue for which a resident has filed an advance ruling application; the prohibition attaches on filing and pertains only to the specific issue raised, thereby preserving the exclusivity and predictability of the advance ruling mechanism while raising interpretive questions about the definition of "issue" and the treatment of pending proceedings.
Act Rules Bills
Procedure for processing applications for advance rulings in the Indian tax regime : Clause 384 of t...
Show AI Summary
Advance ruling procedure secures binding tax guidance with hearing rights, grounds for rejection, and mandatory communication.
Clause 384 requires the Board for Advance Rulings to forward applications to the Principal Commissioner or Commissioner, call for records, and after examination either allow or reject applications. Rejection must follow an opportunity to be heard and a reasoned order, and orders must be communicated to the applicant and tax authorities. Mandatory exclusions include pending proceedings, fair market value determinations, and transactions prima facie designed for tax avoidance; if allowed, the Board must examine further material, hear the applicant or authorised representative, and pronounce a written ruling within the prescribed time frame.
Act Rules Bills
Procedural Evolution of Advance Ruling Applications : Clause 383 of the Income Tax Bill, 2025 Vs. Se...
Show AI Summary
Advance ruling procedure: streamlined application process with prescribed form, quadruplicate filing, fee and a thirty day withdrawal window.
Clause 383 establishes a streamlined procedure for advance rulings: applications must state the specific question and be filed in the prescribed form and manner in quadruplicate, accompanied by a prescribed fee, and may be withdrawn within thirty days. The clause retains core procedural features of the prior regime but omits transitional and legacy transfer or opt-out provisions, leaving form, fee, and certain consequences of withdrawal to subordinate rules.
Act Rules Bills
Legal Insights on Vacancies and Defects in Advance Ruling Bodies : Clause 382 of Income Tax Bill, 20...
Show AI Summary
Vacancies and defects immunity preserves validity of advance rulings to prevent collateral challenges and ensure procedural continuity.
Clause 382 stipulates that no proceeding before, or pronouncement of an advance ruling by, the Board for Advance Rulings shall be questioned or invalidated merely because of any vacancy or defect in the Board's constitution. It applies to both procedural actions and final rulings, reflects the de facto validity principle, and is intended to secure continuity, legal certainty, and protection against collateral procedural challenges, while not extending to defects that negate jurisdiction or involve fraud or bias.
Act Rules Bills
Administrative Efficiency vs. Judicial Oversight : Clause 381 of the Income Tax Bill, 2025 Vs. Secti...
Show AI Summary
Board for Advance Rulings centralizes administrative advance rulings, prioritizing efficiency but raising independence and legal robustness concerns.
Clause 381 mandates constitution of one or more Board for Advance Rulings by notification, each comprising two members who are serving tax officers of not below Chief Commissioner rank, nominated by the Board; the provision preserves an administrative, officer-led model akin to the existing framework and emphasizes mandatory establishment, flexibility in number and phased operationalization, while leaving nomination criteria, judicial representation, publication, and appellate design unspecified.
Act Rules Bills
Changing Landscape of Advance Rulings in Indian Tax Law : Clause 380 of the Income Tax Bill, 2025 Vs...
Show AI Summary
Advance ruling mechanism provides pre transactional tax certainty and access controls for cross border and GAAR related issues.
Clause 380 defines advance ruling across five categories: rulings for non resident applicants; rulings on transactions between residents and non residents; rulings for specified resident applicants; rulings on computation of total income pending before tax authorities or the Appellate Tribunal; and rulings on whether proposed arrangements are impermissible avoidance arrangements; it links applications to the Bill's procedural section and replaces the Authority with a Board for Advance Rulings, while preserving notification based resident eligibility.

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Review of Customs duty Exemptions - Review of conditional exemption rates of BCD

24 July, 2024

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Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024

(i) The BCD exemption for the goods covered under following serial numbers of the notification are being extended upto 31st March, 2026 unless specified otherwise.

S. No.

S N of 50/17-Cus

Brief Description

1.

17

Specified Planting materials, namely, oilseeds, seeds of vegetables, tubers, etc.

2.

80A

Algal oil for manufacturing of aquatic feed

3.

90

Lactose for use in manufacture of homeopathic medicines

4.

104

Specified goods used in processing of sea-food

5.

133

Gold ores and concentrates

6.

139

Bunker Fuels namely: (i). IFO 180 CST; (ii). IFO 380 CST; (iii). VLSFO (CTH 27)

7.

150

Naphtha for manufacture of Fertilisers (scope of exemption is being reduced only to Naphtha)

8.

155

Liquefied petroleum gases (LPG) received from unit in SEZ and returned by the DTA unit to the SEZ unit

9.

164

Electrical energy supplied from SEZ unit to DTA

10.

165

Electrical energy supplied from SEZ to DTA

11.

172

Specified goods used in manufacture of silicon wafers or solar wafers, for manufacture of solar cell or module

12.

183

Medical use fission Molybdenum-99 (Mo-99) for use in manufacture of radio pharmaceuticals

13.

184

Pharmaceutical Reference Standard

14.

188

Goods for manufacture of ELISA Kits

15.

191

Maltol for manufacture of deferiprone

16.

204

Anthraquinone or 2-Ethyl Anthraquinone for use in manufacture of Hydrogen peroxide

17.

237

Specified material for manufacture of EVA (Ethylene Vinyl Acetate) sheets or backsheet, which are used in the manufacture of solar photovoltaic cells or modules (Scope of materials which can be imported is being increased)

18.

253

Specified Goods for manufacture of Brushless Direct Current (BLDC) motors

19.

257

Tags, labels, stickers, belts, buttons, hangers or printed bags, imported by bonafide exporters

20.

257A

Specified goods used in manufacture of handicraft items for export when imported by bonafide exporter

21.

257B

Specified goods used in manufacture of textile or leather garments for export when imported by bonafide exporter

22.

257C

Specified goods used in manufacture of leather or synthetic footwear or other leather products for export when imported by bonafide exporter

23.

258

Security fibre, threads, Paper based Taggant, M-feature for use in manufacture of security paper by Security Paper Mill, Hoshangabad and Bank Note Paper Mill India Pvt Ltd, Mysore.

24.

259

Raw materials for manufacture of security fibre and security thread for supply to Security Paper Mill, Hoshangabad and Bank Note Paper Mill India Pvt. Ltd, Mysore for use in manufacture of security paper

25.

260

Goods for the manufacture of specified orthopedic implants (902110)

26.

261

Raw material for manufacture of Copper-T Contraceptive

(i) Alatheon

(ii) Copper Wire

27.

265

Capacitor grades polypropylene granules for manufacture of Capacitor grade plastic

28.

269

Super absorbent polymer for manufacture of adult diapers and specified goods

29.

271

Polytetrametylene ether glycol, (PT MEG) for use in manufacture of spandex yarn

30.

276

Ethylene- propylene- non-conjugated diene rubber (EPDM) for manufacture of insulated wire and cables

31.

279

New or retreated Pneumatic tyres of rubber for use in servicing, repair of maintenance of aircrafts used for operating scheduled air transport service or scheduled air cargo service etc

32.

280

New or retreated Pneumatic tyres of rubber for use in servicing, repair or maintenance of aircraft imported or procured by Aero Club of India/ for flying training purpose/ operating non-scheduled (passenger or charter) services/ AAI for flight calibration purpose

33.

290

Wood pulp for manufacture of newsprint, paper or paperboard

34.

292

Goods imported for manufacture of paper, paper boards, newsprint

35.

293A

Newsprint and uncoated paper imported for printing of newsprint

36.

296A

Lightweight coated paper imported by actual users for printing of magazines

37.

326

Hydrophilic /Hydrophobic Non- Woven, imported for use in the manufacture of Adult Diapers

38.

329

Pile fabrics for the manufacture of toys

39.

333

Moulds, tools and dies, for the manufacture of parts of electronic components or electronic equipment

40.

334

(i) Graphite Felt or Graphite pack for growing silicon ingots (ii) Thin Steel wire used in wire saw for slicing of silicon wafers

41.

345A

Simply Sawn Diamonds

42.

364A

Spent catalyst or ash containing precious metals

43.

368

Ferrous Scrap

44.

374

Magnesium Oxide (MgO) coated cold rolled steel coils for use in manufacture of cold rolled grain oriented (CRGO) steel

45.

375

Specified items for manufacture of cold rolled grain-oriented steel (CRGO) steel

46.

378

Metal parts for manufacture of electrical insulators falling under heading 8546

47.

379

Pipes and tubes for use in manufacture of boilers

48.

380

Forged steel rings for manufacture of special bearings for use in wind operated electricity generators

49.

381

Flat copper wire for use in the manufacture of photo voltaic ribbon for manufacture of solar photovoltaic cell or modules

50.

392

Dies for drawing metal, where imported after repairs from abroad

51.

403

Parts and raw materials for offshore oil exploration

52.

404

Specified items including capital goods and raw materials for off shore oil exploration

53.

415

Parts for manufacture of catalytic convertors

54.

415A

Platinum or Palladium for manufacture of Noble Metal Compounds & Noble Metal Solutions

55.

416

Ceria zirconia compounds for use in the manufacture of washcoat for catalytic converters

56.

417

Cerium compounds for use in the manufacture of washcoat for catalytic converters

57.

418

Zeolite for use in the manufacture of washcoat for catalytic converters

58.

422

Machinery, electrical equipment for use in semiconductor wafer and LCD

59.

423

Machinery, electrical equipment for use in marking and packaging of semiconductor chips

60.

426

Specified goods for the manufacture of semiconductor devices, memory card, IC, solar cell

61.

435

Capital goods for printing industry

62.

442

Bushings made of Platinum and Rhodium alloy when imported in exchange of worn out or damaged bushings exported out of India

63.

446

Parts and components for manufacture of tunnel boring machines

64.

451

Evacuated tubes with three layers of solar selective coating for use in manufacture of solar water heater

65.

462

Ball screws for use in the manufacture of CNC Lathes

66.

463

Linear Motion Guides for use in the manufacture of CNC Lathes

67.

464

CNC Systems for use in the manufacture of CNC Lathes

68.

464A

Goods for manufacture of plastic processing machineries

69.

467

Parts and components of cash dispenser or automatic bank note dispenser

70.

468

Parts for manufacture of Micro ATM, Fingerprint reader/scanner, Iris scanner, Miniaturised POS (Scope of exemption is being limited to import of raw materials only)

71.

471

All parts for use in the manufacture of LED lights

72.

472

All inputs for use in the manufacture of LED driver or MCPCB for LED lights

73.

476

Television equipment, cameras etc for taking films, imported by a foreign film unit or television team

74.

477

Filming equipment of foreign origin if imported into India after having been exported therefrom.

75.

480

Goods imported for being tested in specified test centers

76.

489B

Goods for manufacturing of Microphones

77.

504

Parts and Components of Digital Still Image Video Cameras

78.

509

Parts, components and accessories for manufacture of Digital Video Recorder

79.

510

 Parts, components and accessories for use in manufacture of reception apparatus for television

80.

511

Parts, components and accessories for manufacture of CCTV Camera

81.

512

Specified Parts, components and for use in manufacture of Lithium-ion battery and battery pack

82.

512A

Inputs, parts or sub-parts for use in the manufacturing of Printed Circuit Board Assembly

83.

515A

Open Cell for manufacture of TV Panel

84.

516

The following goods for use in the manufacture of Liquid Crystal Display (LCD) /LED TV Panel

85.

517

Magnetrons for manufacture of domestic microwave ovens

86.

519

Raw materials or parts for use in manufacture of e-Readers

87.

523A

Parts, sub-parts, inputs or raw material for use in manufacture of Lithium-ion cells

88.

527

Lithium-ion cell use in manufacture of battery or battery pack

89.

527A

Lithium-Ion Cell for use in manufacture of battery or battery pack of cellular mobile

90.

527B

Lithium-Ion Cell manufacture of battery or battery pack of EV

91.

534

Parts of gliders or simulators of aircrafts (excluding rubber tyres and tubes of gliders)

92.

535

Raw materials for manufacture of aircraft and parts of aircraft

93.

535A

Parts of aircraft for manufacture of aircraft or for manufacture of parts of aircraft by PSU under Min of Defence

94.

536

Parts, testing equipment, tools and tool-kits for maintenance, repair, and overhauling of aircraft, components or parts of aircrafts

95.

537

All goods of Heading 8802 (except 88026000-spacecraft)

96.

538

Components or parts, including engines, of aircraft of heading 8802

97.

539

(a) Satellites and payloads; (b) Ground equipment brought for testing of (a)

98.

539A

Scientific and technical instruments etc for launch vehicles and satellites

99.

540

Specified goods imported by scheduled air transporter

100.

542

Specified goods imported by Aero Club, Flying Training Institutes

101.

543

Specified goods imported by non-scheduled air transporter

102.

544

Parts (other than rubber tubes), of aircraft of heading 8802

103.

546

Parts (other than rubber tubes), of aircraft of heading 8802

104.

548

Barges or pontoons imported along with ships

105.

551

Cruise ships, Excursion ships

106.

553

Fishing vessels, Tugs and Pusher crafts, light vessels excluding vessels and floating structure imported for break up

107.

555

Vessels like warships, lifeboats excluding vessels and floating structure imported for break up

108.

567

Stainless steel tube and wire, for manufacture of Coronary stents /artificial valve

109.

569

Parts required for manufacture of Ostomy products

110.

570

Medical and surgical instruments, apparatus and appliances including spare parts and accessories thereof

111.

575

Specified Hospital Equipment for use in specified hospitals

112.

578A

Raw materials, for the manufacture of Cochlear Implants

113.

580

X-Ray Baggage Inspection Systems and parts thereof

114.

581

Portable X-ray machine / system

115.

583

Parts and cases of braille watches, for the manufacture of Braille watches

116.

591

Parts of electronic toys

117.

593

Parts of video games for the manufacture of video games

Note: Description of entries is indicative. Notification may be referred to for complete description.

(ii) The BCD exemption for the goods covered under following serial numbers of the notification no 50/2017-Customs is being extended upto 31st March 2029.

S. No.

S. No. of 50/2017Cus

Brief Description

1.

212A

Medicines/drugs/vaccines supplied free by United  Nations International Children's Emergency Fund (UNICEF), Red Cross etc

2.

213

Drugs and materials

3.

428

Specified goods imported by accredited press cameraman

4.

429

Specified goods, imported by accredited journalist

5.

549

Capital goods, raw materials and spares for repairs of ocean-going vessels

6.

550

Spare parts and consumables for repairs of ocean going vessels registered in India.

7.

577

Lifesaving medical equipment for personal use

8.

607

Life Saving drugs like Keytruda etc

9.

607A

Lifesaving drugs/medicines for personal use

10.

611

Archaeological artefacts for exhibition in a museum

11.

612

Specified raw material for sports goods

Note: Description of entries is indicative. Notification may be referred to for complete description.

Full Text:

Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024

Topics

Acts Income Tax
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