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    Gold, silver, jewellery put less than managed delivery listing authorities authorized to position tracking units in suspected consignments

    Gold, silver, stones, jewellery have been positioned less than managed shipping and delivery listing alongside with medication, antiques and cigarettes, stated Central Board of Oblique Taxes and Customs in a notification on Tuesday, July 12, 2022. This implies that these precious metals cannot be imported or exported out of India without the knowledge and supervision of a right officer. The officer concerned can also position tracking product in circumstance of suspected consignments Below is what Central Board of Indirect Taxes and Customs┬ánotification on controlled shipping record entails┬á The suitable officer obtaining a fair belief, that a suspect consignment, is staying imported into or exported out of India, in the variety…

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    Central Board of Direct Taxes notifies TDS disclosure requirements for cryptocurrencies, virtual digital assets

    The income tax department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. From July 1, tax deducted at source (TDS) of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year, as the Finance Act 2022 has introduced Section 194S in the I-T Act. In the run up to implementation of the new provision, the Central Board of Direct Taxes (CBDT) on June 21 notified certain amendments in I-T Rules with respect to furnishing TDS returns in Form 26QE and…