ICSI Advanced Tax Law Solved Question Paper Dec 2013
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Department s contention is bad in law 5 marks 2013 - Dec 6 b Compute export duty from the following data i FO B price of g ood s to be ex porte d 50,00,000. ii Rate of export duty 10 on 1 st March, 2013 and 8 on 4 th March, 2013. iii A notification was issue d exem pting the export item from customs duty on 7 th March, 2013. iv Proper Officer passed order permitting clearance and loading of goods for export on 1 st March, 2013. v Loading of goods on ship commenced on 4 th March, 2013. vi But goods crossed India only on 8 th March, 2013. 5 marks 2013 - Dec 7 d Explain the validity of the following statements with reference to Chapter IX of the Customs Act, 1962 containing the provisions relating to warehousing i Warehousing period for the goods not intended for use in any 100 EOU is one year, without any extension. ii If such goods as aforesaid remain in a warehouse beyond a period of 90 days, interest 15 per annum will be charged after the expiry of 90 days from the deposit of goods in warehouse till the date of payment of duty. iii If on the da te of remova l of goods from w arehous e, such goo ds are chargeable to nil rate of duty or wholly exempt from duty, then no interest shall be payable. 2 marks each Chapter - 10 Basic Concepts of International Taxation 2013 - Dec 8 Attempt the following i As per the double taxation avoidance agreements, permanent establishment includes a wide variety of arrangements. Specify all these instances of permanent esta blishm ent. 5 marks ii The Finance Act, 2012 has extende d the app licability of transfer p ricing p rovisions to 'specified domestic transactions'. What are the transactions covered by section 92BA as 'spe cified domestic transactions ' 5 marks iii Videsh Ltd., a US company has a subsidiary, Hind Ltd. in In dia. Vid esh Ltd. s ells mobile phones to Hind Ltd. for resale in India. Videsh Ltd. also sells mobile phones to Bha rat Ltd., ano ther m obile phon e res eller. It sold 48,000 m obile phon es to Hind Ltd. at 12,000 per unit. The price fixed for Bharat Ltd. is 11,000 p er un it.