Interested to Buy Any Domain ? << Click Here >> for more details...
What is "Crossing the customs frontiers of india"? Please
explain in layman language.
- 1 Answers
- 11046 Views
- KPMG, I also Faced
- E-Mail Answers
Answer / abhivirthi tax and industrial
Section 2(ab) of Central Sales Tax Act 1956 states that ‘Crossing Customs Frontiers of India’ means crossing the limits of the area of a customs station in which imported goods or export goods are ordinarily kept before clearance by customs authorities.
Customs Station and Customs Authorities have same meaning as per Customs Act.
Customs Station means customs port (for vessels), customs airport (for aircrafts) or land customs station (for trucks or motor vehicles).
Central Government is authorised to specify such places. Within such customs port, ‘Customs Area’ is specified by Customs Authorities where imported goods or export goods are ordinarily kept by customs authorities.
Relevance of this provision is that documents of title can be transferred immediately after goods are entrusted to carrier after obtaining clearance from Customs authorities for export. It is not necessary to wait till the ship/aircraft actually leaves India.
In simple the the place where goods were kept or stored before export and the place where goods were kept or stored after import is called Customs Area and crossing of goods through that area is called “Crossing Customs Frontiers of India”
Reply From:
ABHIVIRTHI Tax and Industrial Consultancy
R.R.JAGADEESAN
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, Palaami Enclave, New Natham Road,
Madurai-625014.
Cell: 9994990599
| Is This Answer Correct ? | 7 Yes | 0 No |
What diffrance between TDS & TCS.
what is pf & esic calculation on ctc how much perstange apply from both the side ,employee as well employer we have to deduct the employee and employer % from ctc or employer has to pay the % of employer sepreterlyfrom his own or form employee ctc?
how we issue the road permit to seller for receiving the rearing material
Is sales tax payable on commodities on rental
Please expain TDS like return time or % of rate and how to calculte. All Details regarding to TDS.
What is VAT stands for? what kind of VAT it is?
Where do you see yourself after 5 Years?
13 Answers ADITI, BAT, Ernst Young, ICI, ITC Indian Tobacco Company,
vat amount payable in financial year 2010-2011 Rs. 25000.00 but we paid Rs. 35000.00. This exces payment will be carried in next financial year?
what is thr diff between commercial invoice and ecise invoice
IS THERE IS ANY EXUMTION FOR THE NEW CONCER TO NOT THE DEDUCT TDS IN THE 1st YEAR OF ITS INCORPORATION IF THE TURNVOER EXEED THE SPECIFIED LIMIT IN THE 1st YEAR.
I got 3 houses in Hyderabd from which i am not getting any rent because In A house i occupied for my family, No.B was occupied by My father and C was occupied by my sister.I am putting Nil in the column mentioned for income from house property. Is it right or wrong pl let me know
WHAT IS THE RAE OF TDS ON PAYMENT TO CONTRACTOR INA CASE OF COMPANY & IN CASE OF INDIVIDUAL?
Audit 
