TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Ministry Clarifies: Purchase Orders as Contracts Under Project Import Regulations, 1986; Aligns with Indian Contract Act.</h1> The circular from the Ministry of Finance addresses whether a purchase order qualifies as a contract under the Project Import Regulations, 1986. It clarifies that a purchase order meeting the criteria of a valid contract under the Indian Contract Act, 1872-free consent, lawful consideration, lawful object, and not void-should be considered a 'deed of contract' for Regulation 5. This regulation requires importers to register such contracts for goods assessed under heading No. 98.01. The circular instructs Customs authorities to treat purchase orders meeting these criteria as valid contracts and resolve any pending cases accordingly.
TaxTMI 
TaxTMI 
