Exemption on goods financed by UN and Intl agency extends to sub contractors
Monday, October 24, 2016     Category : Indian Budget 2016-17

Exemption on goods financed by UN and Intl agency extends to sub contractors

 


Budget 2016-17 changes in customs import duty tariff,excise duty and service tax

Indian Union Budget 2016-2017, changes in import customs tax tariff, chapter wise

Indian Budget 2016-17, Excise duty tariff changes, chapter wise

Changes in Service Tax as per Budget 2016-17

 

Budget 2016-17 clarifies:

Notification No.108/95-CE, dated 28th August, 1995 provides full exemption from excise duty to goods supplied to the projects financed by the UN or an international organization and approved by the Government of India subject to certification by the authorities concerned that the said goods are required for the execution of the said project. A doubt has been raised as to whether the benefit of excise duty exemption is intended to be restricted to direct supplies by the contractor to the project. In this regard, it is clarified that the exemption from excise duty, under notification No.108/95-CE dated 28.08.1995 is also available to sub-contractors for manufacture and supply of goods for or on behalf of the main contractor (who has won the contract for the supply of goods to the projects financed by the UN or an international organization and approved by the Government of India) for execution of the said project, subject to compliance of other specified conditions, if any.

 

 


Clarification to Department of Scientific and Industrial Research (DSIR) 

Customs duty exemption clarification for aircraft engines and parts 

OLP and PTCR for manufacture of refrigerator compressor exemption clarification 

clarification on exemption of Liquefied Natural Gas (LNG) for SEZ 

Exemption of Excise duty of BCD and CVD on power project 

No refund of SAD under notification No.102/2007-Customs dated 14.09.2007 

Tax changes for specified goods imported for petroleum exploration under Indian Budget 2016-17 

Direct imports by Government will attract customs duties 

Exemption for disposable sterilized dialyzer and micro barrier of artificial kidney 

Excise duty CENVAT is being levied on articles of jewellery under Indian Budget 2016-17 

Excise duty CENVAT for readymade garments and made up articles of textiles 

Tax changes in sectors of Agriculture, rural economy and environment under Indian Budget 2016-17 

Indian Budget 2016-17 Tax proposals for Pensioners 

Domestic incentives in addition to Make In India campaign, Indian Budget 2016-17 

Nil duty for Braille paper as per Budget 2016-17 

Reduces rate of refrigerated containers, Indian Budget 2016-17 

Exemption of ST for General Insurance services, Indian Budget 2016-17 

Service Tax changes for DUGKY as per Indian Budget 2016-17 

Income tax benefits to securitization trusts including trusts of ARCs as per Budget 2016-17 

Indian Budget 2016-17, benefits to researchers for patent 

Indian Budget 2016-17, benefits to start up companies 

Income tax exemptions for small and medium enterprises MSME 

To Boost use of refrigerated containers, FM proposed to reduce the basic custom,Indian budget 2016 - 17 

1 per cent service charge on purchase of luxury cars over Rs. 10 lakh, Indian Budget 2016-17 

September 30 to be the deadline followed for undisclosed income, Indian Budget 2016-17 

1% CESS on petrol cars and 2.5% CESS on diesel cars, Union Budget 2016-17 

4% High Capacity Tax on SUV'S , Indian budget 2016-17. 

No change in Income tax slabs, Indian Budget 2016-17 

Additional levy of 1% on luxury cars, Indian Budget 2016-17 

200% penalty on misreporting income, Union Budget 2016-17 

EXCISE DUTY of 1% UP on JEWELRIES, Indian budget 2016-17 

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