valuation rules

Change in Valuation Method of Share – Sec.50CA / 56(2): Is it really a Big Mess!

Income Tax - There will be a change in Valuation Mechanism relating to valuation of unquoted equity shares for the purposes of section 56 and section 50CA of the Income-tax Act, 1961 as per Draft rules issued by CBDT....

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Construction Industry be Careful: Budget overrides Delhi HC Judgment- Suresh Kumar Bansal

Income Tax - Amid of all this steps an amendment has also been made under service tax laws relating to valuation of Construction Service. The real estate sector currently comes under the ambit of service tax, when it receives sum from its buyers during the construction period ...

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Gold & Silver rates from 01.04.1981 to 31.03.2016

Income Tax - Value of gold contained in gold ornaments should be reduced by 14 to 20 per cent of ruling rates of standard gold, as per the practice prevalent in the bullion market and the amount of reduction has to be worked out in the following manner :...

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All about Valuation of Goodwill

Income Tax - A firms’ reputation of generally assessed by Goodwill earned by the firm during its tenure. The Goodwill has been defined by many, but no one has given a crystal clear definition. Goodwill is generally used in business world, to access the value of a firm. It an intangible, invaluable asset....

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Valuation of Physician Sample Manufactured on Job Work basis

Income Tax - Law cannot be interpreted broadly. It has to interpret case to case basis. It is very much clear that if the product is being manufactured for ultimate consumer and covered under provision of Legal Metrology Act and Rules, valuation of the goods shall be Under Section 4A of the Central Excise Act. But if the same product is being manufac...

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Draft GST Determination of Value of Supply (Valuation) Rules as Released on 31.03.2017

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in 1. Value of supply of goods or services where the consideration is not wholly in money Where the supply of goods or services is for a consideration not wholly in money, the value of the supply shall, (a) be the open […]...

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Reg. Rules & Forms for determining FMV of Indian & global assets

Income Tax - Comments and suggestions sought from stakeholders and general public on draft rules and forms prepared for determination of fair market value of Indian and global assets and the manner for reporting requirement on the Indian concern in which the foreign company or entity holds the assets in India....

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Perquisite Valuation rules not considered the inflation and old exempt amount limit been kept

Income Tax - The fringe benefit tax (FBT) was strongly opposed by India Inc, but there is no doubt that it was beneficial to the employees — they did not have to directly bear the tax on many perquisites. The repeal of FBT meant uncertainty on taxation of perks. Thankfully, there are few changes to the valuation rules when compared to the rules that...

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New perquisites valuation rules for Assessment Year 2010-11 are replica of old rules

Income Tax - The salaried class, reeling under the inflationary pressures, has suffered yet another setback this holiday season with the announcement of new perquisite valuation rules by the Central Board of Direct Taxes (CBDT) on December 18. The new rules have come in the wake of the abolishment of fringe benefit tax (FBT) by finance minister Pranab...

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New perquisite Valuation rules taxed almost all the perks

Income Tax - THE much-awaited perquisite valuation rules have finally been notified by the CBDT. The Board has amended Rule 3 to give effect to the abolition of FBT, announced in the Budget 2009. Vide Income Tax (13th) Amendment Rules, the Board has notified the new valuation guidelines w.e.f April 1, 2009 for the AY 2010-11. Although the rules are la...

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SC on Valuation of free physician samples manufactured & distributed

Medley Pharmaceuticals Ltd. Versus The Commissioner of Central Excise & Customs, Daman (Supreme Court) - This Court has upheld the conclusion of the Tribunal that the physician’s samples have to be valued on pro-rata basis. The Tribunal, while arriving at the aforesaid conclusion, had relied upon its earlier decision in the case of Commissioner of Central Excise, Calicut vs. Trinity Pharmaceuticals P...

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Services availed by a manufacturer for outward transportation of final products from the place of removal is input service

ABB Ltd. Vs CCE & ST (CESTAT Bangalore) - The services availed by a manufacturer for outward transportation of final products from the place of removal should be treated as an input service in terms of Rule 2(1)(ii) of the Cenvat Credit Rules, 2004 and thereby enabling the manufacturer to take credit of the service tax paid on the value of ...

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Draft rules of valuation of FMV in respect of Trust or institution

Draft Notification No. F. No. 370142/21/2016-TPL - (24/10/2016) - Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution ceases to exist as charitable organization or converts into a non-charitable organization....

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Corrigendum to the new perquisite valuation rules for A.Y. 2010-11

Notification No. 2/2010-Income Tax - (12/01/2010) - Notification No. 2/2010-Income Tax at page 20 of the Gazette Notification, in sixth line of clause (B) of sub-rule 2, for “amount attributable to official use of the vehicle provided that the following conditions are fulfilled”, read “amount of charges met or reimbursed by the employer as redu...

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Inclusion of After Sale Service and Pre-delivery Inspection Charges in the assessable value

Circular No. 909/29/09-CX - (11/12/2009) - Since these services are provided free by the dealer on behalf of the assessee, the cost towards this is included in the dealer's margin (or reimbursed to him). This is one of the considerations for sale of the goods (motor vehicles, consumer items etc.) to the dealer and will therefore be governed ...

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Recent Posts in "valuation rules"

Change in Valuation Method of Share – Sec.50CA / 56(2): Is it really a Big Mess!

There will be a change in Valuation Mechanism relating to valuation of unquoted equity shares for the purposes of section 56 and section 50CA of the Income-tax Act, 1961 as per Draft rules issued by CBDT....

Read More

Draft GST Determination of Value of Supply (Valuation) Rules as Released on 31.03.2017

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in 1. Value of supply of goods or services where the consideration is not wholly in money Where the supply of goods or services is for a consideration not wholly in money, the value of the supply shall, (a) be the open […]...

Read More

Construction Industry be Careful: Budget overrides Delhi HC Judgment- Suresh Kumar Bansal

Amid of all this steps an amendment has also been made under service tax laws relating to valuation of Construction Service. The real estate sector currently comes under the ambit of service tax, when it receives sum from its buyers during the construction period ...

Read More

Draft rules of valuation of FMV in respect of Trust or institution

Draft Notification No. F. No. 370142/21/2016-TPL (24/10/2016)

Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution ceases to exist as charitable organization or converts into a non-charitable organization....

Read More

Gold & Silver rates from 01.04.1981 to 31.03.2016

Value of gold contained in gold ornaments should be reduced by 14 to 20 per cent of ruling rates of standard gold, as per the practice prevalent in the bullion market and the amount of reduction has to be worked out in the following manner :...

Read More

All about Valuation of Goodwill

A firms’ reputation of generally assessed by Goodwill earned by the firm during its tenure. The Goodwill has been defined by many, but no one has given a crystal clear definition. Goodwill is generally used in business world, to access the value of a firm. It an intangible, invaluable asset....

Read More

Reg. Rules & Forms for determining FMV of Indian & global assets

Comments and suggestions sought from stakeholders and general public on draft rules and forms prepared for determination of fair market value of Indian and global assets and the manner for reporting requirement on the Indian concern in which the foreign company or entity holds the assets in India....

Read More

Valuation of Physician Sample Manufactured on Job Work basis

Law cannot be interpreted broadly. It has to interpret case to case basis. It is very much clear that if the product is being manufactured for ultimate consumer and covered under provision of Legal Metrology Act and Rules, valuation of the goods shall be Under Section 4A of the Central Excise Act. But if the same product is being manufac...

Read More

Conditions & Limitations for Grant of Rebate of Duty on Goods Exported out of India

Rebate of duty on goods exported out of India is covered by Rule 18 of the Central Excise Rules, 2002. The Central Government may, by notification, grant rebate of- i. Duty paid on such excisable goods which are exported out of India, or ii. Duty paid on materials used in the manufacturing or processing of such goods....

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Job work – Valuation under Excise

A job work transaction triggers Excise Duty liability if the process involves manufacture. The consequent question that arises is how to determine assessable value of the goods involved. The various provisions that linger in one’s mind are Rule 10 A 0r Rule 8 or Rule 11 of the Central Excise Valuation Rules 2000....

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