Under invoicing in case of export
This query is : Resolved
nisha harchandani
(Querist)
11 June 2012
Hello sir,
We are about to export out of india in this relation wants information whether invoicing of the product can be done at the rate less then the purchase cost?
Whether such transaction of under invoicing is possible or allowed in export? Whether income tax also approved such transaction in case of any scrutiny by income tax department?
We are about to export out of india in this relation wants information whether invoicing of the product can be done at the rate less then the purchase cost?
Whether such transaction of under invoicing is possible or allowed in export? Whether income tax also approved such transaction in case of any scrutiny by income tax department?
RAMESH KUMAR VERMA
(Expert)
11 June 2012
till the existance the company
If an IEC holder does not wish to operate the allotted IEC number, he may surrender the same by informing the issuing authority. On receipt of such intimation, the issuing authority shall immediately cancel the same and electronically transmit it to DGFT for onward transmission to the Customs and Regional Authorities.
If an IEC holder does not wish to operate the allotted IEC number, he may surrender the same by informing the issuing authority. On receipt of such intimation, the issuing authority shall immediately cancel the same and electronically transmit it to DGFT for onward transmission to the Customs and Regional Authorities.
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