CA Jinesh Bhagdev
Vide Notification No. 36 of 2012 Dated 30.08.2012, in exercise of the powers conferred by sub-section (9) of section 92CC read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes releases Advance Pricing Agreement Scheme. The advance pricing agreement scheme shall be governed by Rules 10F to Rule 10T. Any person who has undertaken an international transaction or is contemplating to undertake an international transaction, shall be eligible to enter into an agreement under these rules. Any person who is contemplating to undertake an international transaction, shall make a pre-filing consultation under Rule 10H. The application shall be in Form 3CEC along with the following Fees:
|Amount of international transaction entered into or proposed to be undertaken in respect of which agreement is proposed during the proposed period of agreement.||Fee|
|Amount not exceeding Rs. 100 crores||10 lacs|
|Amount not exceeding Rs. 200 crores||15 lacs|
|Amount exceeding Rs. 200 crores||20 lacs|
The application under advance pricing agreement can be withdrawn. However, the application fees is non-refundable. The application for withdrawal needs to be made in Form No. 3CEE.
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