What is "Crossing the customs frontiers of india"? Please
explain in layman language.
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 is the differnce between income tax and tax deducted at source?
interest paid to bank rs. 15000 in connection with overdraft obtained for paying dividend.
I Have Deducted the tds against advance payment and how to adjust in the bill
Hi, I need the clarification in Tax Rate in Karnataka for Frozen foods like Paratha, Briyani, Pasta's Please share the information for me
Is here any change in excise duty in respect of supply of goods required for MSPGCL,i.e. Rs.10.30 % instead of 8.24 %.
what is the objective of business taxation in private company?
WHAT WOULD BE THE RATE OF DEPRECIATION OF RAILWAY SIDING AT STRAIGHT LINE METHOD UNDER COMPANIES ACT?
What is the meaning of "ROC"? pls give detail information regarding ROC procedure.
i have a bank statements for a xyz company, how did start Bank Reconciliation Statement, what is the concept of BRS and what is the steps to follow up the BRS. can u told how to do brs in Excel easily. please solve my question.
Is there any criteria for percentage define of TDS rates? and What is the major advantage of introducing DTC and GST by Central Govt?
What slab of Income Tax on till date.How many limit of investment for Indvidual.
Explain the Calculation of Sales Tax?
0 Answers Cognizant, Petron ltd,