deputy commissioner

As per Section 61 of MVAT Act, 2002 it is mandatory for all eligible dealers to get their books of accounts audited. As per trade circular No. 27 T of 2009 Dated 01.10.2009, any dealer who files Audit Report in Form 704 on or after 1" Oct.2009 for any period shall file the same electronically in the new Form-704. Full Article

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts goods of the description as specified in column (3) of the Table appended hereto and falling under the Chapter, Heading, Sub-heading or tariff item of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) as specified in the corresponding entry in .. Full Article

Notification No. 152/2009-Customs- Government hereby exempts goods of the description as specified in column (3) of the Table appended hereto and falling under the Chapter, Heading, Sub-heading or tariff item of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) as specified in the corresponding entry in column (2) of the said Table, when imported into India from the Republic of Korea, from so much of the duty of customs leviable thereon as is in excess of .. Full Article

Notification No. 151/2009-Customs- Provided that the importer proves to the satisfaction of the Deputy Commissioner of Customs or Assistant Commissioner of Customs, as the case may be, that the goods in respect of which the benefit of this exemption is claimed are of the origin of Republic of Korea, in accordance with the provisions of the Customs Tariff (Determination of Origin of Goods under the Preferential Trade Agreement between the Governments of the Republic of I.. Full Article

The second ground for passing provisional order by the CIT under Section 263 of the Act relates to the provision for doubtful debts. As per the CIT, the provision for doubtful debts at Rs.818.03 lacs debited in the Profit and Loss account was not added back for calculating book profit under Section 115JB of the Act, which resulted into underassessment of income to that extent. In forming this opinion, the CIT has governed itself by the judgment of the Madras High Court i.. Full Article

The Sahar police on Thursday arrested a citybased chartered accountant, Munuf Mamdani (49), and a tax consultant, for alleged human trafficking. The accused are believed to be part of a racket involved in sending people abroad by declaring them as employees of Mamdani’s bogus firm, Tisco International Leather Company, Malad. The special branch officials at the [...] Full Article

M/s. Pashupathi Traders, Secunderabad, filed 8 Shipping Bills, all dated 03rd January, 2001 declaring the goods exported by them as "NAPROXEN" under the DEPB Scheme. The goods were stuffed after examination by the customs at ICD Hyderabad for export to UAE via Nhava Sheva port. The DRI Officers intercepted two consignments of cargo in two containers cleared through Hyderabad ICD for detailed examination including the above consignment, which was lying at Nhava Sheva dock.. Full Article