12-21-2011, 05:33 AM
Presumptive tax on exporter Clause 2(1)Please clarify it
"Local Sales of goods not constituting more than 20 % of such production may also be treated as export sales if the assesse opts to pay tax on such sales at the rate applicable to export sale "
Pls confirm me is this circular still valid or not ?
If yes then confirm me following working is correct
Export 100000
Local Sales 18000 ( supplies )
Tax Return we have declared only export sales not local sales bcz it is less then 20 % of export .Is it correct working ?
"Local Sales of goods not constituting more than 20 % of such production may also be treated as export sales if the assesse opts to pay tax on such sales at the rate applicable to export sale "
Pls confirm me is this circular still valid or not ?
If yes then confirm me following working is correct
Export 100000
Local Sales 18000 ( supplies )
Tax Return we have declared only export sales not local sales bcz it is less then 20 % of export .Is it correct working ?
