Circular No. 378/11/98-CX The undersigned in directed to refer to Board”s Circular No. 4/85(F.No. 6/15/85-CX.1) dt. 14.2.85 regarding addition and exclusion of sales-tax in the assessable value. The trade has raised a doubt about the deductions given in respect of sales tax leviable by State Government, while determining the Assessable value.
Notification No. S.O. 201(E)-Income Tax In the Notification of Government of India in the Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), No. S.O. 34(E), dated 12th February, 1998, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), dated 12th January, 1998, at page 39, in line 24 of 229 ITR (St.), for “1989” read “1997”.
