Vide Finance Act, 2011, ‘Self-Assessment’ has been introduced under the Customs Act. Under ‘self-assessment’, responsibility of filing correct declaration lies with the importer or exporter. The declaration filed by the importer or exporter may be verified by the proper officer when so interdicted by the Risk Management systems (RMS). In rare cases, such interdiction may also be made with the approval of the Commissioner of Customs or an officer duly authorized by him, who shall not be below the rank of Additional Commissioner of Customs, and that will necessarily be done after making a record of the same in the EDI system.
ICAI- Tax Suite software contains the Income Tax, TDS, Audit Reports, Project Report/ CMA, Form Manager, AIR (Annual Information Return), Service Tax and Document Management and will help the Practitioners & CA Firms in systematic operation of correspondence and documentation through ready to use templates, retrieval of documents and multi-purpose form generation system.
