This circular cannot be made use of for legal interpretation of provisions of law as it is clarificatory in nature. If any member of the trade has any doubt, he may refer the matter to this office for further clarification.
Circular No. 108/02/2009 – ST Dated 29th January 2009 Construction of residential complex was brought under service tax w.e.f.01.06.2005. Doubts have arisen regarding the applicability of service tax in a case where developer / builder/promoter enters into an agreement, with the ultimate owner for selling a dwelling unit in a residential complex at any stage of construction (or even prior to that) and who makes construction linked payment.
This office had issued a Trade Circular dated the 20th February 2007. A view had been taken in that Trade Circular that Section 6A of the C.S.T.Act, 1956 deals only with transactions between agents and principals and does not deal with transactions which are on a principal to principal basis.
I am directed to invite your attention to the above mentioned subject and to say that, doubts have been raised, whether the amount of Bond and Bank Guarantee(BG) to be executed under Advance Authorization and Export Promotion Capital Goods schemes, include the interest amount also.
The Department proposes to provide the compendium of e-services viz., e-return, e-registration, e-declarations, e-annexure, e-Form-704 etc. For availing of these e-services it is mandatory for the dealers to get enrolled with the Department’s web-site i.e. www.mahavat.gov.in .
Once the application has been approved the Central Repository staff would print the required number and type of statutory forms sign and dispatch them to the dealer s main place of business either through courier or Post.
In such cases, if the EOUs/BTPs wish to claim Chapter 3 scheme benefits on exports made on or after 1.4.2007, then they will have to forego the direct tax exemption status and modify their direct tax exemption permanently and produce evidence to this effect from the jurisdictional Income Tax Authorities that they would not be claiming direct tax exemption henceforth. The change would be eligible from the date this exemption period is over. This shall apply for exports made from 1.4.2007 onwards and not earlier. EOUs/BTPs will submit the evidence of change of exemption status from jurisdictional Income Tax Authorities to RA concerned.
.It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories during the month of November 2008.
I am directed to refer to Board’s Circular No.11/2007-Customs dated 13.02.2007 whereby a procedure for online transmission of DEPB shipping bills from Customs to DGFT and DEPB scrips from DGFT to Customs was put in place.
Doubts have been raised by Trade bodies & exporters, as to whether amendments made vide Public Notice No. 28 dated 9.6.2008 are applicable with retrospective effect. In this connection, it is clarified that for applications filed prior to the date of issuance of Public Notice No 28 dated 9.6.2008, Policy /Handbook provisions prior to this date would be applicable.
