custom duty calculation

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POS Devices exempted from Central Excise Duty till 31st March


Point of Sale POS Devices and Goods required for their manufacture exempted from Central Excise Duty till March 31 2017 The Government has demonetised the currency notes of Rs 500 and Rs 1 000 with effect from mid night of 8th 9th November 2016 Along with this the Government has also laid increased

Procedure for putting indelible ink for the customer coming to bank


RBI 2016 17 133 DCM Plg No 1280 10 27 00 2016 17 November 15 2016 The Chairman Managing Director Chief Executive Officer Public Sector Banks Private Sector Banks Foreign Banks Regional Rural Banks Urban Co operative Banks State Co operative Banks Dear Sir Standard Operating Procedure SOP for putting

ICAI President's Message - October 2016


Dear professional colleagues In India October begins with celebrations of the birthday of the Father of the Nation Long before the smart CRM tools found their way into our daily lives Mahatma Gandhi had emphasised on Customer Satisfaction He said A customer is the most important visitor on our premi

Revised Monetary Limits for adjudication of Show Cause Notice in Central Excise and Service Tax


Circular No 1049 37 2016 CX F NO 267 40 2016 CX 8 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS New Delhi dated the 29thSeptember 2016 To All principal Chief Commissioners Chief Commissioners of Central Excise Service Tax Principal Director General

Service Tax Return Form ST3 has been amended


TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART II SECTION 3 SUB SECTION i Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi the 28 September 2016 6 Asvina 1938 Saka Notification No 43 2016 Service Tax G S R E In exercise of the po

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Experts Opinions

For sale bill calculation


SIR I HAD STARTED A BUSINESS OF CEMENT SALE BUT HOW I CAN CREATE A SALE BILL SO PLEASE HELP THERE WAS A DETAIL PURCHASE 2300 BAG 293 673900 VAT 14 94346 773646 IS TOTAL NOW SALE MY LABOUR TRANSPORT COST IS RS 20 PER BAG SO 2300 20 46000 AND RS 5 IS MY PROFIT SO THAT SALE AMOUNT IS 293 20 5 318 SALE

For sale bill calculation


SIR I HAD STARTED A BUSINESS OF CEMENT SALE BUT HOW I CAN CREATE A SALE BILL SO PLEASE HELP THERE WAS A DETAIL PURCHASE 2300 BAG 293 673900 VAT 14 94346 773646 IS TOTAL NOW SALE MY LABOUR TRANSPORT COST IS RS 20 PER BAG SO 2300 20 46000 AND RS 5 IS MY PROFIT SO THAT SALE AMOUNT IS 293 20 5 318 SALE

Duty on import of pencil


Hi If someone wants to import Pencil what would be the import duty Is there any special approval required to import Pencil Is pencil comes under MRP based product If yes then what would be the abatment Thanks in Advance Vinay

Cenvat credit & duty drawback


Dear sir Ma am I m Final CA student now doing in Job in one Charted Accountant office now got the and first assignment in Related to Indirect tax Client is register under the Importer under Rule 9 main business in trading the good all goods import from the outside india and sale in local or Export P

Stamp duty on partnership deed


Stamp duty on partnership deed in Gujarat is payable as the percentage of capital contribution subject to minimum of Rs 500 and maximum of Rs 15000 as amended However many partnership deeds are silent on the amount of capital contribution and capital clause is drafted as the parties here to will sub

Discussion

Duty scrapped on branded gold coin

The government today scrapped the 1 percent excise duty currently applicable on branded gold coins Reacting to the development PR Somasundaram MD of India World Gold Council said total gold coin market in India is estimated at roughly 70 90 tonne and of this branded portion is very small Directional

Point of Sale (POS) Devices and Goods required for their manufacture exempted from Central Excise Duty till March 31, 2017

The Government has demonetised the currency notes of Rs 500 and Rs 1 000 with effect from mid night of 8th 9th November 2016 Along with this the Government has also laid increased emphasis on promoting digital payments Point of Sale POS devices are used for cashless transactions both for making paym

Upfront / prepayment received from a customer

Hi I have a customer wherein i have requested for upfront payment of Customs duty for his goods to be cleared from customs After receiving the advance where should i account the upfront payment received from the customer Please provide journal entries Also can i deduct this advance received once all

Used mobile seller tax calculation

I have a used mobile selling business i purchase a used mobile from used mobile customer and sale it to another customer if i purchase used mobile from used mobile customer Rs 1000 and sale it to another party 1200 What tax i paid to Govt and how I show my income to income tax department

Customs duty - claim

Hi Sir Can anyone suggest to my query when can we able to claim the customs duty paid amount what is the process to follow Regards Murali

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  • Online Information & Database Access or Retrieval Services

    Government has issued series of service tax notifications which have radically changed service tax implications on online information and database access or retrieval services OIDAR service Notification No 46 2016 ST Notification No 47 2016 ST Notification No 48 2016 ST Notification No 49 2016 ST and Circular No 202 12 2016 ST dated 9th Nov 2016 Applicable from 1st Dec 2016 I have attempted to provide an In depth analysis of these notifications Circulars to assist you in Impact analysis of the same At the outset I have following observations after going through the updated legal provisions Earlier Place of Provision was Location of Service Provider means if X Hong Kong provides its these services to Indian customer these services was not taxable in India as Location of Service Provider was Non Taxable Territory i e Hongkong Service Tax law applies on taxable territory But now w e f 1st December 2016 Place of provision of such service has been amended and provided as Location of Service Receiver means now it would be taxable in India Since it would be taxable in India This service has been provided under reverse charge i e service receiver has to pay full service tax on the same so where is the role of Y Indian representative of X if X Hongkong provides these services to an Indian customer If the Indian customer is a company or any other person other than Non Assessee Online Recipient e Government Local Authority Government authority or an Individual not registered with service tax department then that company or other person has to pay service tax on the same But if that Indian customer is Non Assessee Online Recipient i e Government Local Authority Government authority or an Individual not registered with service tax department then X HK is liable to pay service tax in India through its representative in India i e Y India This was one illustration further if X India provide any Online information and database access or retrieval services OIDAR service w e f 1st December 2016 outside India it would be tax free as now POPOS is Location of Service Receiver
  • Customs Case Laws Summary

    Since case laws summary book is issued for a year Pl don t ignore considering old bcoz May 2016 is mentioned Those students who could not refer to the case laws yet or want a last minute summary at their disposal can take help from this BUT KEEP ICAI CASE LAW BOOK WHILE REFERRING THIS TO AVOID ANY AMBIGUITY
  • EXPAT Taxation

    contains Definition of Expat Residential Status calculations and Grossing up of salary and tax figure
  • Export of sawn timber to Nepal

    Export of sawn timber to Nepal made exclusively out of imported wood logs through the port of Kolkata has been permitted from the Land Customs Station LCS of Raxaul
  • SVB Questionnaire Circular 5/2016-Customs revised - Word

    SVB Revised Questionnaire as per Customs Circular 5 2016

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Articles

Investment subsidy by State Govt. - Whether excise duty is payable


State governments offer incentives for setting up industries in the Backward regions and generating employment The eligible amount of subsidy is determined and capped as per capital invested and employment generated by aunit The subsidy to be granted is determined also on the basis of VAT CST deposi


No Excise Duty w.e.f. 16.09.2016 - Aye or Nope


Validating Constitutional backing of Central Excise and Service Tax Prelude Model GST law is in public domain since June 2016 President has given his assent to 101st Constitution Amendment Act 2016 giving Central and State Govts power to levy GST on 08th September 2016 However till then there was no


Central excise duty levy - A suspense or suspended


Prelude It is within everyones knowledge that the Constitutional amendments w r t GST was mired in political controversies for many years and finally the Constitutional Amendment Bill paving way for enactment of GST was passed on 3 8 2016 After ratification by more than 50 of the States the Presiden


Has the central govt lost its power to levy excise duty?


With the release of Notification No SO2986 E dated 16 September 2016 Notification the Central Government has notified the enactment of the Constitution One Hundred and First Amendment Act 2016 Act with effect from 16 September 2016 Accordingly Article 246A of the Constitution has become operational


Calculation of Limits u/s 186 of the Companies Act, 2013


Subject Brief Note on Limits specified u s 186 of the Companies Act 2013 S 186 of the Companies Act 2013 is applicable to all the Companies Earlier corresponding S 372A of the Companies Act 1956 was applicable only to Public Limited Companies We hereby give gist of the section in brief Limits adsbyg


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Updated on : 12/4/2016 2:26:16 PM


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