Certain enquiries are being received as regard to the holding of examination on 15th November, 2013 since the same has been declared as a holiday on account of Muharram.
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby
in the matter of continuation of anti-dumping duty on Phenol, falling under chapter 27 or 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, South Africa imposed vide notification of the Government of India, in the Ministry of Finance (Department of Revenue),No. 10/2013-Customs, dated the 3rd May, 2013, published in the Gazette of India
Whereas, the designated authority vide notification No. 15/20/2013-DGAD, dated the 17th October, 2013, published in the Gazette of India, Extraordinary
Sometime back, I had to deal with a case of a charitable institution which is running a number of educational institutions. For one assessment year, certain donations received by the trust were disclosed as anonymous donations, as per the provisions of section 115BBC of the Income-Tax Act, 1961 (the Act). As per section 115BBC(1)(i), the assessee trust paid tax on the anonymous donations at the rate of thirty per cent (30%) thereof.
Q1. What is Customs Value? Ans: Customs Value means the value of goods for the purposes of levying ad valorem duties of customs. Ad valorem duties of customs are duties levied according to the value of goods and are usually expressed as percentages of value.
Where, the assessee, apart from furnishing the permanent account number of the creditor, has also furnished their balance sheet, copy of income tax return, confirmation, bank account etc. The amount advanced to the assessee is duly disclosed in the balance sheet of all the creditors.
That mere incorporation and receipt of share application money cannot be said to be commencement of the business. Neither any interest income has been earned from against advances nor any goods or services been obtained.
ection 2(41) of the Customs Act, 1962 defines ‘Value’ in relation to any goods to mean the value thereof determined in accordance with the provisions of sub-section (1) of Section 14 thereof. The provisions of sub-section (1) of Section 14 apply for the valuation of both imported goods and export goods.
Conditions and modalities for registration of contracts for export of sugar with DGFT were given in the two policy circulars referred above. One of the conditions [condition at Para 2(i) of Policy Circular No. 63 dated 16.05.2012] was the upper limit of 25,000 MTs
