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17) What is remission of tax/duty?  

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Ruby
 Ruby
Member
Joined: 6 months  ago
Posts: 37
March 11, 2017 5:31 am  

It means relieving the tax payer from the obligation to pay tax on goods when they are lost or destroyed due to any natural causes. Remission is subject to conditions stipulated under the law and rules made thereunder.


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