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Section 8(6),8(7) and 8(8) of the CST Act deals with the exemptions available to a SEZ unit or SEZ developer from CST. When goods are sold to a SEZ unit or SEZ developer then no CST is payable by such unit or developer as per the above sub sections subject to fulfillment of certain conditions. The conditions and forms relating to such exemption are provided as follows for the benefit of all concerned.
GE India Technology Cen. (F) Ltd. v. CIT (Supreme Court) -It was held that the moment a remittance is made to a non resident; obligation to deduct tax at source under section 195 of the Act does not arise. It arises only when such remittance is a sum chargeable to tax under the Income Tax Act under sections 4, 5 and 9 of the Act.
Navayuga Info tech Private Limited Vs DCIT (ITAT Hyderabad)- Expenditure incurred on foreign travel, spent in foreign exchange, is to be reduced from the export turnover for the purpose of the computation of the deduction under s 10A. Interest on term deposits, profit on exchange variation, etc, do not form part of the profits and gains derived from the industrial undertakings qualifying for the exemption under s 10A.
The exporter would be entitled for import of alternate Import Item namely Antimony Triacetate indicated at S.No. 6 of the amended SION No. H-206. The above facility has been extended subject to conditions vide Note 1 and 2 above. Allowing of alternate raw material would facilitate exporters for the manufacture of Polyester (PET) Chips for wide ranging applications depending upon the export requirement.
Plastic Waste (Management and Handling) Rules, 2011 Notified Explicit Recognition to Waste Pickers under New Rules The Ministry of Environment and Forests has today notified the Plastic Waste (Management and Handling) Rules, 2011. It replaces the earlier Recycled Plastics Manufacture and Usage Rules,1999 (amended in 2003). These Rules have been brought out following detailed discussions […]
Metalman Auto Pvt. Ltd. Vs. CIT, Ludhiana(High Court of Punjab and Haryana At Chandigarh) – Whether ITAT is justified in law in allowing deduction u/s 80IB on labour job receipts ignoring the fact that such income is not ‘derived from’ the eligible business of industrial undertaking of the assessee company? – Whether ITAT is justified in law in allowing deduction u/s 80IB on other miscellaneous income being misc. receipts, rebate & discount and balances written off etc. whereas such income is not ‘derived from’ the eligible business of industrial undertaking of the assessee company?
In a bid to curb generation of black money during the upcoming assembly polls in five states, the Election Commission today asked the Income Tax department to keep a check on suspicious movement of cash and hawala brokers. At a high-level meeting C
IFCL is a wholly-owned Government company providing financial assistance to long-term infrastructure projects. As on 30 Sept 2010; 105 of the 124 projects for which IIFCL has sanctioned finances. As on March 31, 2010 and September 30, 2010, it had n
The Supreme Court Thursday was told that the government will reveal the names of all the people who have stashed away their black money in foreign banks abroad after it registers cases against them. The government’s assurance to the apex court bench
CA. Amarjit Chopra, President, ICAI has signed an MOU with New India Assurance Co. Ltd. on 10 th February 2011 extending facility for insurance against professional indemnity for members and CA Firms. Mr. Virander Kumar, Genral Manager, New India Ass
