|
As
per reference cited above certain floor rates were fixed
for the purpose of realizing advance tax on ceramic/wall
/floor/verified tiles imported into the State. It was
also provided therein, that while estimating the sale
price for the purpose of collecting Advance Tax as per
circular 50/06, it the purchase value is declared below
the floor rate, it should be reckoned by adopting the
floor rate mentioned therein by adding freight charges
and 5 % G.P.
Queries
were raised from the field as to how to arrive at the
purchase value in case of consignments imported from
outside the country, like china. It is clarified that in
case of such consignments the landed cost at port (ie.
Invoice value +Customs duty + shipping freight) shall be
the purchase value to be reckoned for estimation of
advance tax.
The
circular cited above is modified to the above extent.
Commissioner
|
