Input tax credit claimed on invoices issued by non-existent suppliers may attract Section 74 where the notice sets out foundational facts indicating fraud, wilful misstatement or suppression. The claimant must establish actual receipt and physical movement of goods; invoices and banking records alone do not prove transaction genuineness. A consolidated notice may cover multiple financial years because the statutory wording permits proceedings for connected periods. Conversely, reverse charge liability cannot be pursued under Section 74 merely from omissions when relevant expenses were disclosed in accounts and financial statements; deliberate non-disclosure is required. Input tax credit mismatch and reverse charge demands were sustained under Section 73 with consequential interest and penalty, while fraudulent credit demands were restored under Section 74.

Pankaj Poddar, Promoter, MD & CEO, Business Nextgen Finance Pvt. Ltd. Mumbai (Maharashtra) [India], September 3: Business Nextgen Finance Private Limited (BNF), a new-age Non-Banking Financial Company focused on providing secured credit to Micro, Small and Medium Enterprises (MSMEs), has successfully raised ?215 crore in equity capital from a marquee group of institutional and strategic investors. The equity round was led by Beams Fintech Fund I and its affiliates, Baring Private Equity In... ... ...

Input tax credit claimed from non-existent suppliers requires proof of genuine receipt and physical movement of goods; invoices and banking payments alone do not discharge the claimant's burden where foundational facts indicate fictitious supplies, permitting recourse to Section 74 with interest and penalty. Section 74 requires deliberate non-disclosure to evade tax and does not apply to disclosed reverse-charge expenses absent fraud, wilful misstatement or suppression; the remaining liability falls under Section 73. Section 75(8) permits appellate modification of tax, interest and penalty, including a verified GSTR-3B/GSTR-2A mismatch. Sections 73 and 74 permit consolidated notices spanning multiple financial years.

Registered persons whose aggregate turnover for financial year 2023-24 does not exceed two crore rupees are exempt from filing the annual return for that financial year under the first proviso to section 44 of the Tamil Nadu Goods and Services Tax Act, 2017. The exemption takes effect from 10 July 2024.

Money-laundering investigation under the Prevention of Money Laundering Act involves coordinated searches in connection with multiple narcotics-trafficking matters. The investigation is founded on police and Narcotics Control Bureau FIRs and linked chargesheets concerning separate drug-trafficking allegations, including alleged trafficking in methamphetamine, marijuana and MDMA with suspected cross-border linkages.

GST recovery against a purchasing dealer is questioned where a supplier filed GSTR-1 but did not pay the challan or file GSTR-3B. The issues concern third-party recovery through DRC-13 for gross GSTR-1 liability despite available input tax credit reducing the supplier's net payable amount, and whether later payment and GSTR-3B filing affect the purchaser's liability.

Charitable purpose includes relief of the poor, education, yoga, medical relief, environmental and heritage preservation, and advancement of general public utility. General-public-utility activities involving trade, commerce, business, or related services for consideration are excluded from charitable character unless undertaken in actual pursuit of that object and the aggregate receipts from those activities do not exceed twenty per cent of the trust's or institution's total receipts for the relevant previous year.

The special GST procedure requires reporting of the final-packing machine in FORM GST SRM-I. Make and model details are optional, but a machine number is mandatory and may be assigned where unavailable. Electricity-consumption ratings must be based on machine details or records; if unavailable, they may be certified by an eligible Practicing Chartered Engineer and uploaded with the form. The procedure excludes Special Economic Zone units and manual packing operations. It applies to job workers and contract manufacturers, while the principal manufacturer bears compliance responsibility for an unregistered job worker or contract manufacturer.

Re-export of warehoused aircraft stores for placement on aircraft departing on foreign flights requires an airline company to submit an application in triplicate identifying the goods, quantity, aircraft, flight particulars, departure details and first foreign airport. Customs permission is recorded through registration and approval. Removal from the warehouse, escort, and fitting or placement on board must be certified under customs supervision, with a further confirmation of placement and entry in the relevant ledger.

HON'BLE MR. JUSTICE SANJAY KISHAN KAUL AND HON'BLE MR. JUSTICE ABHAY S. OKA For the Petitioner : Mr. Suryaprakash.V. Raju, ASG Ms. Sairica Raju, Adv. Ms. Swati Ghildiyal, Adv. Mr. Anmol Chandan, Adv. Mr. Sughosh Subramayan, Adv. Mr. Zoheb Hussain, Adv. Mr. Ritwiz Rishabh, Adv. Mr. Ashutosh Gadhe, Adv. Mr. Kanu Agrawal, Adv. Mr. Arvind Kumar Sharma, AOR For the Respondent : None ORDER List below Criminal Appeal Nos. 761- 762/2021 and connected matter. =============... ... ...

Aircraft stores intended for re-export on foreign flights may be deposited in an aircraft stores warehouse upon an airline company's triplicate application supported by cargo manifests, consignment notes, invoices and specifications. The application records package and goods particulars, quantity, weight and assessable value. Customs permission, package examination and warehouse ledger entry are recorded. The airline's authorised representative accepts the examination result and undertakes to pay duty on short or damaged contents, with their description, tariff classification and value specified.

Bill of Entry for Uncleared Goods (Sale List) records package particulars, quantity or weight, goods descriptions, marks and numbers, fair price, and the sale price forming the basis for duty calculation. It provides for customs duty, additional duty equivalent to excise duty, total duty, additional information, and certification through the signature of a Port Trust official.

RAY is a conversational AI account manager on WhatsApp that enables businesses to access payment information, support, and operational actions through messages or voice notes. It can provide payment summaries, analyse payment activity, monitor settlement status, generate payment links, and issue refunds. The AI assistant is designed to proactively identify payment-health issues, flag settlement events, recommend actions, and use merchant-specific context to support payment management without dashboard navigation.

Bill of Coastal Goods requires original and duplicate customs forms containing consignor, vessel, port, package and cargo particulars, including description, quantity, weight, FOB value, and the status of goods as inland or foreign merchandise. The consignor or agent must certify the accuracy of the declared particulars and their conformity with the buyer or consignee contract. Customs fields provide for loading clearance and, on the duplicate, recording of packages landed, short landed, and passed out of customs control.

The Bill of Entry for Ex-Bond Clearance prescribes import, goods classification, valuation, duty, warehouse, and declaration particulars for seeking permission to remove goods from a customs bonded warehouse. It requires disclosure of assessable value, customs duty, additional duty, IGST, cess, exemption claims, invoice value, freight, insurance, and related charges. Importers must affirm the correctness of import documents, disclose valuation-affecting payments, restrictions, price adjustments, related-party status, and relevant valuation review details. Preferential-duty claims require origin, trade agreement, certificate, and transport particulars.

Form-II prescribes the Bill of Entry for Warehousing used to seek permission to deposit imported goods in a public or private warehouse. It requires importer, customs broker, conveyance, bill of lading, origin, goods classification, quantity, valuation, duty, exemption, IGST, and total-duty particulars. Importers and customs brokers must certify the correctness of invoices and supporting records, disclose differing valuation information, and declare valuation-related restrictions, adjustments, additional payments, related-party status, and Special Valuation Branch examination status. Preferential-duty claims require origin, certificate, treaty, and transport details.

Competing interests in land within a larger survey-number area require clear identification of the respective plots and shares before any potential sale of attached property. Revenue authorities are to assist with demarcation, supported by plans and revenue records submitted by the claimants. Lifting the attachment remains contingent on establishing valid salable title and verifying the claimant demands. Proceedings arising from the FIR remain stayed pending further consideration of these property claims.

Form I for a Bill of Entry for Home Consumption requires importers to declare goods, tariff classification, assessable value, duty components, exemptions, invoice particulars, transport details, and supporting documents for customs assessment. Importers must confirm the accuracy of invoices and related records, disclose valuation-affecting restrictions, post-import price adjustments, additional payments, royalties, related-party relationships, and relevant Special Valuation Branch status. Preferential rate of duty claims require trade-agreement, certificate-of-origin, originating-criteria, accumulation, back-to-back certification, and transport details, together with an importer certification that goods qualify as originating goods.

Form III prescribes a boat-note for transhipment, reshipment and same-bottom cargo. It records issue, boat, tindel, vessel, cargo-report and transhipment particulars; package details; and same-bottom goods discharged overside or on the wharf. Cargo movement, receipt on board, and commencement and completion times require signatures of the proper officer and ship's officer, as applicable. The form is issued in duplicate with prescribed physical specifications.

Import cargo boat note in Form II records goods delivered to a cargo boat, barge or lighter for landing from a specified vessel. It captures the boat note and import particulars, vessel, berth and landing-place details, package quantity, description, marks, numbers and consignors' names. Signatures of the proper officer, ship's officer, shipper's representative and agent are required, with subsequent certification of landing or receipt by the mukadam and proper officer. The form is pink and issued in duplicate.