octroi on machinery

Mrs. Saroj Choudhury v. Municipal Corporation Of Greater

1. By this writ petition, the petitioner has challenged the order of the Deputy Assessor and Collector (Octroi) of the Municipl Corporation of Greater Bombay ("Corporation" hereinafter) rejecting her claim for refund of octroi paid by her in respect of goods which were later re-exported from Bomby on the ground that the rate of octroi …Web

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Conjugaison d'octroyer

passé; que j' aie octroyé: que tu: aies octroyé: qu'il, elle, on: ait octroyé: que nous: ayons octroyé: que vous: ayez octroyé: qu'ils, elles: aient octroyéWeb

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Chapter 4 Accounting Ratios Solutions – TS Grewal 2021

Calculate Return on Investment (ROI) from the following details. Net Profit after Tax ₹6,50,000. Rate of Income Tax 50%, 10% Debentures of ₹100 each ₹10,00,000; Fixed Assets at Cost ₹22,50,000, Accumulated Depreciation on Fixed Assets up to date ₹2,50,000. Current Assets ₹12,00,000, Current Liabilities ₹4,00,000.Web

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Extinction event: how GST killed the octroi ecosystem

Then, just short of a month ago, on July 1, the Goods and Services Tax (GST), came into effect, replacing octroi, among other taxes and levies. It was like a meteor from outer space for the ...Web

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OCTROI | definition in the Cambridge English Dictionary

octroi meaning: 1. (in some countries) tax that you pay on goods when you bring them into a particular local area…. Learn more.Web

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Subsidy as octroi duty refund to promote industrialization is a …

028. Similarly, ground number [2] of the appeal is whether the subsidy received on refund of octroi duty of ₹ 7,375,324/– is a capital or revenue receipt. We have already held in assessment year 2013 – 14 that such sum is capital receipt. Therefore, we also allow ground number 2 of the appeal of the assessee. 029.Web

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Municipal Board vs Jai Engineering Works Ltd. And ... on 14 …

2. The facts mentioned in the affidavit are that Messrs. Jay Engineering Works Ltd., opposite party No. 1, carry on the business of sale of Usha Sewing Machine. In the course of their business they import sewing machines within the octroi limit of Allahabad Municipality.Web

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Octroi and Entry tax

You cannot reclaim Octroi and Entry tax from the tax authorities. For sales, you can charge the tax to your customers. For purchases, you must book the Octroi or Entry as costs on …Web

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Saumil R. Kadakia vs Deputy Commissioner Of Income Tax on …

The AO thus concluded that the value of the machinery is to be taken at Rs. 7,95,600, as against Rs. 11,28,400 claimed by the assessee. The AO further noted that the assessee has claimed capitalization of commission on purchases (Rs. 36,000), machinery installation (Rs. 24,000), transportation charges (Rs. 12,000), and octroi charges (Rs ...Web

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DK Goel Solutions for Class 11 Accountancy Chapter 21

DK Goel Solutions for Class 11 Accountancy Chapter 21 Financial Statements Cost of Goods Sold = 0 + 6,50,000 + 70,000 – 0 = ₹ 7,20,000 3/4th of the goods is sold for ₹ 6,00,000Web

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Accountancy Dk Goel 2019 Solutions for Class 11 Commerce

(vii) A new machinery was purchased on credit and installed on 31st December 2018 costing ₹ 15,000. No entry for the same has yet been passed in the books. Answer: Financial Statements of Sharma. Trading Account . for the year ended March 31, 2019. Dr. Cr. Particulars . Amount (₹) Particulars. Amount (₹) Opening Stock: 19,800.Web

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Octroi revenue on decline after LBT is announced

NMC octroi department data says revenue from octroi has been over Rs40 crore per month in the last six months. ... traders may have stopped bringing in costly goods or machinery till April 1 ...Web

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Octroi

It suggests the abolition of octroi in two phases and the initial move suggested would be to reduce the octroi rates to half the existing rate. It recommends …Web

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What is Octroi Tax – Everything You Need to Know about Octroi …

The octroi charges in Mumbai, Maharashtra, were abolished first in 2013 and were replaced by a new tax called Local Body Tax. However, the state re-established the octroi charge due to a decrease in the Local Body Tax. As of July 1st, 2017, the octroi is abolished across India, introducing the Goods and Services Tax. History of OctroiWeb

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Law Web: Whether civil suit is maintainable if municipal officials

The octroi, however, can be levied only in accordance with the Octroi Rules and at the rates specified in the Rules. If there is a flagrant violation of the Octroi Rules or tax (octroi) is levied at a rate higher than the maximum rate permitted under the Rules, it cannot be said that the octroi is levied under the Octroi Rules framed under the Act.Web

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After meeting between Mayor, MLAs and Industrialist octroi on …

Home News: After meeting between Mayor, MLAs and Industrialist octroi on spare parts & machinery to be reduced to 2.Web

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State Bank Of India vs Municipal Corporation Of Greater ... on 31

The goods were also assessed for octroi duty by the Municipal Corporation as per letter dated 18-8-1991. The appellant was directed to pay octroi duty at 4% on the entire value of the softwere including the license fee viz. US $ 4084475 as mentioned in the invoice dated 3-7-1991 Being aggrieved by the levy of customs duty, the Appellant ...Web

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Octroi – A Tax in a Time Warp: What Does Its Removal …

Octroi was originally a duty levied on imports collected at port towns. It was immediately extended to other towns and cities once ... earlier, viz, machinery and spare parts, iron …Web

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Rajasthan Municipalities (Octroi) Rules, 1962

Octroi collection through contractor. 34B. Octroi collection through contractor. - (1) Municipality may at any time give octroi collection work on contract basis to any individual or firm or corporate body by closed tender system or open auction system as the Director of Local Bodies may decide.Web

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Octroi on commodities increased

LBT vs Octroi * The PMC continues to depend heavily on octroi for revenue even as the state has decided to abolish it * The Rs 3,605.02 draft budget for 2013-14 includes Rs 1,407.50 as revenue ...Web

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Double Entry Book Keeping Ts Grewal 2019 Solutions for Class …

Stock on 31st March, 2019 was ₹ 1,24,500. Rent was unpaid to the extent of ₹ 850 and ₹ 1,500 were outstanding for General Expenses; ₹ 4,000 are to be written off as bad debts out of the above debtors; and 5% is to be provided for doubtful debts. Depreciate Plant and Machinery by 10% and Premises by 2%.Web

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From the following balances of M / s Jyoti Exports, prepare

From the following balances of M / s Jyoti Exports, prepare trading and profit and loss account for the year ended March 31, 2012 and balance sheet as on this date. Account Title Amt. Rs. Account Title Amt. Rs. Sundry Debtors 9,600 Sundry Creditors 2,500 Opening Stock 22,800 Sales 72,670 Purchases 34,800 Purchases Return 2,430 Carriage Inwards …Web

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PCMC cuts octroi on spares, plastics

The octroi on spare parts and machinery has been reduced to 2.75% from 3%, and 2% from 3% on plastic material. The new tariff would come into effect after the PCMC general body’s approval.Web

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Octroi sops for IT: PMC administration puts state ball in …

Exemption of octroi on electronic equipment vital to Information Technology companies should be taken by the elected members of Pune Municipal Corporation,according to the civic body administration.Web

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Elements and Components of Cost | Definition and Formula

One example is octroi paid on the purchases of imported direct materials (if not added to their purchase price). 2. Indirect expenses: Expenses that cannot be allocated but can be apportioned to or absorbed by cost centers or cost units, such as rent, rates, taxes, insurance of the factory building, factory lighting, repairs, and so forth.Web

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TMC seals equipment for evasion of Octroi

The Octroi duty collection department of the Thane Municipal Corporation (TMC) has sealed the machinery Read 15 years of Mumbai Mirror's journalism here. For 24x7 updates on Mumbai and Maharashtra ...Web

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Pimpri Chinchwad Municipal Corporation to rationalise octroi to …

The Pimpri Chinchwad Municipal Corporation (PCMC) has proposed to rationalise its octroi rates, following a demand made by small scale industrialistsWeb

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PCMC brings down octroi rates on around 50 items

The changes in octroi rates will affect as many as 50 items and will set the civic body back by Rs 70 crore annually. The rates prescribed by the octroi rules 2001 had angered the industries based ...Web

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Use of Old Machines for BOI Projects Amended

The new BOI scheme under the Announcement of the Board of Investment No. 2/2557, 3 December 2014 states that for an approved project, new machinery and the following …Web

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Octroi collections exceeded estimate by Rs 72 cr

The decision comes at a time when the corporation has mopped up Rs 72 crore more in octroi collections than was estimated. The collection at the end of the 2009-10 fiscal stood at Rs 4,522 crore ...Web

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