Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT Audit :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: due date for vat payment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: empanelment :: VAT RATES :: articles on VAT and GST in India :: form 3cd
 
 
« General »
 Compilation of all notifications issued ON
 Banking transaction tax to have cascading effect: NIPFP
 While filing tax in India, NRIs do not have to state overseas income
 Tax ease on cards, some daily use items may become cheaper
 It’s one year of GSTN, too
 SBI home, auto loan interest rates cut, set to be effective from Nov 1
 MNCs will have to furnish extra disclosures from March 2018
 High Court Allows Woman To File Income Tax Returns Without Quoting Aadhaar
 If tax status is no longer NRI, all your income is taxable in India
 Tax Benefits from Different Types of Loans under the Income Tax Act, 1961
 Do you have any question about tax filings? Now, chat online with income tax experts to clear your doubts

BMW seeks German government help over tax row
September, 06th 2013

BMW India is seeking the assistance of the German government in dealing with a Rs 650-crore duty evasion case slapped on it by tax authorities, a top company official said.

"The German ambassador is supporting us in this," BMW India president Philipp von Sahr told TOI here when asked to comment on the development. "They try to support us to have stable business conditions." The Chennai office of Central Board of Excise and Customs is understood to have slapped the Rs 650-crore show-cause notice on the luxury car maker, alleging that it imported semi-knocked down (SKD) cars but paid a lower duty that is reserved for completely-knocked down (CKD) car units. Philipp von Sahr, however, denied any wrongdoing on the part of the company in its business dealings. "It is wrong to presume any such thing. There has been no violation on the part of BMW."

The customs duty on SKD and CKD are 30% and 10%, respectively. As per CBEC, the company made undue gains by passing SKD kits as CKD. The tax authorities had also carried out an inspection at the company's facility in Chennai. BMW had also confirmed the development, "An inspection is in process by the authorities at BMW Plant in Chennai. We are co-operating with the authorities in the inspection process," it had said in May. von Sahr said the company is actively looking into the matter.


BMW India is a fully-owned subsidiary of Germany's BMW Group. The company entered the Indian market in 2007, and is increasing its total investment in the country from Rs 180 crore to Rs 390 crore by the end of this year. The company is increasing the capacity at its assembly plant to 14,000 units annually by the end of this year from the existing 11,000. It currently assembles models like the 1-Series, 3-Series, 5-Series, X1 and X3 in India.

 
 
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