CBDT signs nine Unilateral Advance Pricing Agreements in July

New Delhi: The Central Board of Direct Taxes (CBDT) signed its 232nd Advance Pricing Agreement (APA) in the month of July.

It entered into nine more Unilateral Advance Pricing Agreements (UAPAs), taking the total numbers of APAs to 232rd, which includes 20 Bilateral Advance Pricing Agreements (BAPAs), informed the CDBT in a statement.

The UAPAs entered into during the month, pertains to various sectors and sub-sectors of the economy including- manufacturing, engineering and cover international transactions including software development service, manufacturing and sale of engineering goods, import of raw materials and others.

Issues like capacity utilisation adjustment; treatment of AMP expenses and others have been carefully examined and resolved in some of the agreements, the statement said.

It further stated that the APA Scheme continues to make good progress and is gaining maturity with time. (ANI)