The CESTAT ruled that quotations and proforma invoices are not binding agreements and should not be used to redetermine the value of imported goods under the Customs Valuation…
12/11/20241 min read
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The CESTAT ruled that quotations and proforma invoices are not binding agreements and should not be used to redetermine the value of imported goods under the Customs Valuation…
The CESTAT upheld the doctrine of substantial compliance, ruling that minor procedural errors in the Country of Origin certificate should not deny tariff benefits. The case…
The CESTAT granted relief to Hyundai from piecemeal penal proceedings related to the import of items cleared through provisional assessment. The tribunal found that the premature…
Perceptyne Robots is at the forefront of automotive manufacturing automation, leveraging advanced robotics and AI technologies to enhance production efficiency and precision. The…
Flipkart has announced that its delivery fleet now includes 10,000 electric vehicles EVs . This milestone is part of the company's commitment to sustainability and reducing its…
The state of Rajasthan is set to host an IT Startup Summit aimed at promoting tech innovation and entrepreneurship. The summit will bring together industry leaders, investors, and…
Drone manufacturer ideaForge has expanded its Employee Stock Option Plan ESOP pool, allotting 2,600 stock options to its employees. This initiative aims to retain and attract…
The state of Rajasthan is set to host an IT Startup Summit aimed at promoting tech innovation and entrepreneurship. The summit will bring together industry leaders, investors, and…
The Enforcement Directorate ED is reportedly set to summon e-commerce giants Flipkart and Amazon over alleged violations of Foreign Direct Investment FDI rules. The investigation…
The Confederation of Indian Industry CII has called for significant tax reforms and increased capital investment in the upcoming Union Budget 2025-26. The industry body suggested…
Co-working space provider Awfis has reported a profit of INR 38.67 crore for the second quarter, with revenue increasing by 40% year-on-year. This strong financial performance is…
Amazon India's marketplaces have achieved a significant milestone, with their revenue crossing the INR 25,000 crore mark. This growth is attributed to the company's focus on…
Travel and ticketing platform Ixigo has expanded its Employee Stock Option Plan ESOP pool by allotting 17.57 lakh stock options. This move is aimed at retaining and attracting top…
Unicommerce, an e-commerce enablement platform, has acquired a 42.76% stake in Shipway, a logistics and supply chain solutions provider. This strategic investment aims to enhance…
Filing a revised TDS return online offers several advantages, including increased accuracy, time efficiency, and reduced paperwork. The process involves accessing the TRACES…
Various industry bodies have urged the Finance Ministry to simplify Tax Deducted at Source TDS rates in the Union Budget 2025. They argue that the current TDS structure is complex…
The National Financial Reporting Authority NFRA is considering the introduction of new audit norms for Limited Liability Partnerships LLPs . These proposed norms aim to enhance…
The CESTAT ruled that if the principal manufacturer fails to discharge their tax liability, the burden shifts to the job worker. This decision clarifies the responsibilities of…
The Orissa High Court addressed a criminal case against an engineer for not wearing a helmet and mask during the COVID-19 pandemic, in violation of the Epidemic Disease Act. The…
The Kerala High Court ruled that the requirement for sanction to prosecute a public servant is not a dead letter and must be adhered to. The court emphasized the importance of…
The Meghalaya High Court directed the National Highways Authority of India NHAI to repair the damaged NH-6 highway in response to a Public Interest Litigation PIL . The court…
The Kerala High Court addressed a media defamation case involving MP K.C. Venugopal, Kairali TV, and Asianet News. The court examined the statements made during a press conference…
The Jharkhand High Court clarified that under Section 60 of the Indian Evidence Act IEA , a person who has seen or heard a fact can provide direct evidence. The court emphasized…
The Rajasthan High Court ruled on the appointment of court commissioners for assisting the Election Commission under the Panchayati Raj Rules. The court emphasized the need for…
Justice DY Chandrachud has authored several significant Constitution Bench judgments during his tenure at the Supreme Court. These judgments have addressed a wide range of issues,…
Tata Sons is planning to partner with Singapore for its semiconductor manufacturing initiatives. The collaboration aims to leverage Singapore's expertise in semiconductor…
Apple is establishing its first Research and Development R&D subsidiary in India, marking a significant milestone in its expansion strategy. The R&D center will focus on…
UnifyApps, an AI enterprise solutions provider, has secured $20 million in funding to expand its offerings. The investment will be used to enhance its technology platform, develop…
Indian startups, including Easy Home Finance and Boldfit, raised a total of $125 million this week. The funding will support their expansion plans, product development, and market…
The Indian Startup FY24 Financials Tracker provides an overview of the financial performance of various startups, including revenue, expenses, and losses. The tracker highlights…
Ola Electric faces challenges such as service losses and supply chain bottlenecks as it strives to expand its electric vehicle EV business. The company is working to address these…
The potential re-election of Donald Trump as the U.S. President could have significant implications for the Indian startup ecosystem. Trump's policies on immigration, trade, and…
SupplyNote aims to address India's restaurant supply chain issues by providing an integrated platform for inventory management, procurement, and order processing. The platform…
Delhivery has allotted over 11 lakh equity shares under its Employee Stock Ownership Plan ESOP to reward and retain its employees. This move aims to align the interests of…
The CESTAT ruled that CENVAT credit on refunds to exporters of cricket match broadcasting services cannot be denied solely on procedural grounds. The tribunal found that denying…
The Patna High Court upheld the cancellation of a GST registration due to non-compliance with appeal limitation and failure to utilize the amnesty scheme. The petitioner failed to…
The CESTAT ruled that no penalty applies if a wrongful CENVAT credit claim is reversed voluntarily before the issuance of a show-cause notice SCN . The tribunal reduced the…
Businesses are reminded of the upcoming deadline for filing GST returns due before November 15. The article outlines the key steps and requirements for timely filing, emphasizing t…
The ITAT restored a case to the Assessing Officer AO for fresh assessment, granting the assessee an opportunity to substantiate cash deposits. The Tribunal found that the initial…
ITAT granted relief on employer PF and ESI contributions, restricting disallowance to employee contributions based on timely payment under Section 43B of the Income Tax Act. The…
The Central Board of Indirect Taxes and Customs CBIC issued a clarification on the insurance amount and bond value for Customs Cargo Service Providers CCSPS and the validity of…
The Karnataka High Court set aside an ex parte order where the GST Department notified for a personal hearing only on the portal, despite the taxpayer's request for email…
The ITAT upheld the disallowance of Provident Fund PF and Employees' State Insurance ESI contributions due to late deposits beyond statutory deadlines. The Tribunal emphasized…
The Karnataka High Court invoked Article 226 to restore a society's GST registration, citing email access issues and the society's public role in food supply. The society had…
The Institute of Chartered Accountants of India ICAI revised the criteria for classifying non-company entities concerning the applicability of accounting standards. The new…
The ITAT accepted a medical certificate as sufficient proof to condone a taxpayer's delay in filing the audit report. The Tribunal recognized the taxpayer's genuine health issues…
The Delhi High Court ruled that no income tax notice can be issued beyond 10 years from the relevant assessment year, as per Section 149 read with Section 153C. This ruling…
The Delhi High Court addressed the issue of non-payment of salaries to MCD Municipal Corporation of Delhi employees. The court emphasized the responsibility of the municipal…
The Kerala High Court upheld the withholding of pension payments during vigilance proceedings, ruling that such actions are justified to ensure accountability and prevent misuse…
The Supreme Court reinstated candidates who had obtained the CCC Course on Computer Concepts certificate in 2014 as Technical Grade II Electrical Employees in the UP Power…
The CESTAT ruled that quotations and proforma invoices are not binding agreements and should not be used to redetermine the value of imported goods under the Customs Valuation…
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