Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
No Interest or Penalty on Past IGST Imports Under Advance Authorization: Bombay HC Rules 2024 Amendment Applies Prospective
Excise, VAT & CustomInternational Taxation
The Bombay High Court ruled that no interest or penalty is applicable on past IGST (Integrated Goods and Services Tax) on imports under advance authorization, stating that the 2024 amendment applies prospectively. The court's decision provides relief to importers who had availed advance authorization, clarifying that the recent changes regarding IGST liability will not have retrospective effect. This ensures that businesses are not penalized for past practices that were compliant with the then-prevailing laws.
