URGENT : Impact of De-bonding of warehouse on taxation?

This query is : Resolved

CMA. Subhash Kumar Jha (Querist)
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12 November 2008 We are an STPI organisation. 100 % involved in software export activity. Now, we want to diversify into some domestic activity also. so part of the office needs to be de-bonded under customs act. Till now we are covered u/s 10B of IT Act, 1961. What would be the overall impact on us so far as taxation is concerned? & ALSO, whether being an STPI organisation whether we are allowed to operate other than from a Custom Bonded Warehouse?

Reply urgent.

Subhash

Deepak Agrawal

Deepak Agrawal (Expert)
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12 November 2008 Yes are u are allowed to operate.
Maintain seperate books for STPI & Non-STPI for each transactions.

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