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CA Final · Direct Tax Laws & International Taxation · Advance Rulings

Kaveri Exports, a non-resident applicant, seeks an advance ruling on a proposed transaction of Rs. 80 crore under section 380(a)(i). Another applicant, Meena Rao, is an individual who falls under 'any other applicant' in the fee table. What are the fees payable by Kaveri Exports and Meena Rao respectively under Rule 200?

Kaveri Exports pays Rs. 2,00,000 and Meena Rao pays Rs. 10,000. The non-resident's transaction is below Rs. 100 crore, so the row 1 fee applies. Meena falls under 'any other applicant', for whom the fee is a flat Rs. 10,000 in all cases.

  1. ARs. 2,00,000 and Rs. 2,00,000
  2. BRs. 5,00,000 and Rs. 10,000
  3. CRs. 2,00,000 and Rs. 10,000Correct
  4. DRs. 10,000 and Rs. 10,000

Explanation

For the non-resident applicant under section 380(a)(i) with a transaction below Rs. 100 crore, row 1 prescribes Rs. 2,00,000. Any other applicant pays Rs. 10,000 in all cases under row 3. Rs. 5,00,000 would apply only if the transaction amount were between Rs. 100 crore and Rs. 300 crore.

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