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NOTIFICATION UNDER THIRD PROVISO TO SUB-SECTION (2) OF SECTION 92C OF THE INCOME-TAX ACT, 1961 (DATED 28.06.2022)

Updated on:28th Jun, 2022
For the purposes of this notification, “wholesale trading” means an international transaction or specified domestic transaction of trading in goods, which fulfils the following conditions, namely:- Purchase cost of finished goods is eighty per cent. or more of the total cost pertaining to such trading activities; andAverage monthly closing inventory of such goods is ten per cent. Or less of sales pertaining to such trading activities. , refer attachment for further details
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