CENEX UPDATE – 06.11.2020

CX - Opinion of the Ministry of Finance rendered through Audit Reports is not conclusive & is also not a statement of law - hence it is not a binding judicial precedent: CESTAT

ST - Service of providing non-binding investment advisory service is classifiable under Management, Business Consultancy Services - As service recipient is located outside India, such activity qualifies as export of service & no tax is leviable thereon: CESTAT

Cus - General Rules of Interpretation preclude classification of goods under general residuary description, where conformity with specific description is not found to be incorrect: CESTAT