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Tax Amicus: September 2012

Education Guide released by CBEC on Taxation of Services, is sought to be termed as a clarification with full sanctity under the law, in this months’ article. In terms of changes in the statutory provisions, Customs duty has to be paid mandatorily through e-payment by specified importers while Rules for Advance Pricing Arrangements have been notified under the Income tax law. This September 2012 issue of "Tax Amicus" also covers Orders where CESTAT has clarified meaning of phrase 'related person' in terms of Customs Valuation and has also held that expense incurred by sole selling agent is not includible in the Central Excise law. Further, Bombay High Court has held that protective sunglasses are medical devices for the purposes of VAT.

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