Insertion of new Chapter VB

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....joint venture in India in collaboration with a non-resident or resident, or a resident setting up a joint venture in India in collaboration with a non-resident, making application; (d) "application" means an application made to the Authority under sub-section (1) of section 28H; (e) "Authority" means the Authority for Advance Rulings constituted under section 28F; (f) "Chairperson" means the Chairperson of the Authority; (g) "Member" means a Member of the Authority and includes the Chairperson; and (h) "non-resident" shall have the meaning assigned to it in clause (30) of section 2 of the Income-tax Act, 1961 (43 of 1961). 28F. Authority for Advance Rulings.- (1) The Central Gov....

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....orm and in such manner as may be prescribed, stating the question on which the advance ruling is sought. (2) The question on which the advance ruling is sought shall be in respect of,- (a) classification of goods under the Customs Tariff Act, 1975 (51 of 1975); (b) applicability of a notification issued under sub-section (1) of section 25, having a bearing on the rate of duty; (c) the principles to be adopted for the purposes of determination of value of the goods under the provisions of this Act. (3) The application shall be made in quadruplicate and be accompanied by a fee of two thousand five hundred rupees. (4) An applicant may withdraw his application within thirty days from the dat....

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....l as may be placed before it by the applicant or obtained by the Authority, pronounce its advance ruling on the question specified in the application. (5) On a request received from the applicant, the Authority shall, before pronouncing its advance ruling, provide an opportunity to the applicant of being heard, either in person or through a duly authorised representative. Explanation.- For the purposes of this sub-section, "authorised representative" shall have the meaning assigned to it in sub-section (2) of section 146A. (6) The Authority shall pronounce its advance ruling in writing within ninety days of the receipt of application. (7) A copy of the advance ruling pronounced by the Authority, duly sign....