Sales computation - goods under transit - We agree that the ...

Income Tax

December 8, 2016

Sales computation - goods under transit - We agree that the accounting policy, using the word ‘coincide’, is not very appropriately worded, but then the same is not to be read strictly, as one would read a provision of law, giving due emphasis to every word, but as conveying broadly the intent, as of transfer of ownership of goods in the present case. - AT

View Source

← Previous Next →

Sales computation - goods under transit - We agree that the ...

Income Tax

December 8, 2016

You may also like:

Demand of differential duty - Valuation of goods - inclusion of freight and transit insurance in the assessable value - Sale on FOR destination basis - Even though the...

Cenvat Credit of service tax paid on Transit Insurance and Group Health Insurance Policy services - input service - AT

Transit Declaration form – Possession before entry – Seizure for non-compliance – UP VAT - Act does not specifically provide for seizure of goods for not carrying...

FDI Policy Clarification on After-Sale/Repair Services - any standalone sale of spare parts/accessories etc. shall be construed as retail trading for the purposes of FDI policy

Detention of Goods – Non availability of E-Transit passes – TNVAT - petitioner's vehicles need not carry E-Transit pass in middle of transit - when subject vehicles,...

100% EOU - Refund of the accumulated CENVAT Credit - The Tribunal has rightly interpreted the words used in Rules 5 and 6 by pointing out that the words used in Rule 6...

Import of restricted goods or not - capital goods - It is clear from the definition of capital goods that any plant, machinery, equipment or accessories required for...

100% EOU - return of damaged goods - goods were damaged in transit while they were taken out for export - since goods are not cleared for DTA, demand of duty set aside.

Valuation - import of old and used monitors - restricted items - appellant fail to comply this requirement of the policy, therefore the goods were rightly confiscated - AT

Works contract service - zero rated supply - deemed sale or not - Section 2(39) uses the expression “includes”. But what has been brought within the inclusive definition...

Quick Updates: