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August 2010

Applicability of the Hon. Supreme Court judgment in the case of M/s. Pee Vee Textiles judgment — Trade Circular No. 20T of 2010, dated 30-6-2010.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary
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Part B : INDIRECT TAXES

MVAT UPDATE

MVAT Circulars

89 Applicability of the Hon. Supreme Court judgment in the
case of M/s. Pee Vee Textiles judgment — Trade Circular No. 20T of 2010, dated
30-6-2010.

With regard to pro rata allowance of benefits under the
Package Scheme of Incentives, the Commissioner had issued one Internal Circular
No. 8A of 2009, dated 31-3-2009. Vide this Circular, instruction is issued to
lower authorities not to follow the said Internal Circular.

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