BPCL’s Plea Against ₹10.7 Crore Arbitral Award to Haldia Petrochemicals Rejected by Calcutta High Court
The Calcutta High Court has dismissed Bharat Petroleum Corporation Limited’s (BPCL) plea to set aside an arbitral award directing it to compensate Haldia Petrochemicals...
Trump Tariff and Israel-Iran War Double Blow to Indian Basmati Exports, Rs 3,000 Crore Orders Stuck Amid Crisis
The escalating conflict between Israel and Iran, coupled with the lingering impact of former U.S. President Donald Trump's 26% tariff on Indian basmati rice,...
Rs. 50K Penalty Imposed On Customs Broker For Failing To Report Discrepancies In Import Consignments: CESTAT
The Chennai Bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Chennai, has upheld a Rs. 50,000 penalty imposed under Regulation 18 of...
Vedanta Denied Interest on Rs. 7.12 Crore Customs Refund: CESTAT
The Chennai Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has denied Vedanta the interest on Rs. 7.12 crore customs refund.The bench...
DRI Arrests Trader for Evading Rs 42 Crore Customs Duty on Walnut Imports
The Directorate of Revenue Intelligence (DRI) has arrested a 31-year-old trader from Vashi for allegedly undervaluing the import of 3,630 metric tonnes of inshell...
Senior Citizens Welfare Fund Interest Rate Lowers Down to 3.35% for FY 2024–25
The Ministry of Finance has announced that deposits made under the Senior Citizens Welfare Fund (SCWF) will earn an annual interest rate of 3.35%...
NPCI Launches Real-Time PAN-Bank Verification to Speed Up Tax Refunds, Enhance Security
The National Payments Corporation of India (NPCI) has rolled out a new digital infrastructure to accelerate and streamline the verification of PAN and bank...
Are Luxury Watches ‘Personal Effects’? Customs Grapples with Smuggling Tactics
Indian Customs is facing a growing challenge in dealing with the import of ultra-luxury watches—often worth crores—being brought into the country by affluent passengers...