Composition scheme for bullion traders: application requires opening stock valuation, tax deposit proof and authorised verification. Form BU 01 collects dealer identification, the year of composition, prior and estimated turnover, and requires computation of tax payable on opening stock ... Summary
Composition scheme for bullion traders: application requires opening stock valuation, tax deposit proof and authorised verification.
Form BU 01 collects dealer identification, the year of composition, prior and estimated turnover, and requires computation of tax payable on opening stock held when the scheme is to commence. Opening stock is detailed in Part B into Trading Stock (bullion) and Packaging Material with purchase value, fair market value at opening, applicable tax rates and tax payable. Applicants must attach proof of tax deposit and complete a verification declaring exclusive bullion trading and correctness of information.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.