May, 2022 – Issue No. I

GST
Even if the tax evasion is taken to be more than Rs. 5 crores, the maximum punishment which can be imposed is five years – investigation commenced in 2019 – bail to be granted – Gujarat HC.
INCOME TAX

CBDT has notified form and manner of filing updated returns.

CUSTOMS

Countervailing duty imposed on imports of Copper Tubes and Pipes originating in or exported from Malaysia, Thailand and Vietnam.

DGFT

Import policy of Precious metal, metals clad with precious metal of ITC (HS) Codes 7112 30 00, 7112 91 00, 7112 92 00, 7112 99 10, 7112 99

The Indian Tax Advisors