Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: TDS :: VAT RATES :: Central Excise rule to resale the machines to a new company :: form 3cd :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: due date for vat payment :: empanelment :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« News Headlines »
 6 important income tax rules for individuals which will change from April 1, 2017
 Key changes in income tax rates individuals need to look at from 1 Apr
 Provisional Enrollment under Goods and Service Tax (GST)
 Ten income tax changes that will come in to effect from April 1
 New income tax provisions you need to be aware of
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return

MRP-based taxation introduced for IT products
January, 25th 2008
The government has introduced Maximum Retail Price based taxation for various information technology related products, including computers, modems and set-top boxes.

The excise duty on various IT-related items will be levied on the basis of retail sale price with effect from tomorrow, a Central Board of Excise and Customs (CBEC) notification said while announcing the abatement rates for various items.

Currently, the excise duty on various IT related items is levied on the basis of transaction price of items, ranging from 12 to 16 per cent.

The industry, however, could not tell whether the introduction of MRP-based taxation would make computers, modems and set-top boxes cheaper.

The abatement rates for printers, ink cartridges, modems, keyboards, mouse, monitors has been fixed at 25 per cent of retail price, set-top boxes (for gaining access to Internet and for television) at 24 per cent and personal computers at 22.5 per cent.

These rates were decided by the abatement committee, after consultation with various chambers and associations, industry sources said.

Under the new system, the duty on IT products would be levied on retail price after deducting the permissible abatement.

The abatement, according to industry sources, is usually allowed to take care of margins which are paid to dealers and retailers.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions