1 January, 2016
Pre-delivery inspection charges (PDI) and free after sales service charges, which are not charged by the manufacturers of vehicles from the dealers, are not to be included in the transaction value of the vehicles, on which the manufacturer has to pay Central Excise duty.
The Supreme Court has by its Judgement dated 15-12-2015, hence overruled ...
14th June, 2013
The World Customs Organisation (WCO) has recommended that its members use customs valuation databases as a risk management and analysis tool and not use them to set minimum values for the purposes of customs valuation.
According to the communication received from the Chairman of the Technical Committee on Customs Valuation, International Chamber of Commerce (ICC) has expres...
By Rajat Juneja & Sumeet Khurana
When a partnership firm is formed for carrying on real estate business and a partner contributes land or building therein then the tax consequence of contribution of such land or building becomes a tricky issue. The computation of the capital gain on this transaction is a challenge because of two Sections that are apparently applicable but conflicti...
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