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[Notification No. 49/2022/F.No.370142/6/2022-TPL] [Notification No. 85/2022/F. No. 300196/17/2022-ITA-I]

2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(ii) ऐसे माल की औसत माजसक संिरण सूची ऐसे यापाठरक दक्रयाकलापों से संबंजधत जिक्रयों का दस प्रजतित या
उससे कम है ।
[अजधसूचना सं. 70/2022/फा0सं0 500/1/2014-एपीए-।।]
रुजचका िमाा, अिर सजचि
स्ट्पष्टीकारक ज्ञापन
यह अजधसूचना जनधाारण िर्ा 2022-2023 के जलए थोक व्यापार के जलए एक प्रजतित और अन्‍दय सभी मामलों मेंतीन
प्रजतित की सह्यता रेंि का उपबंध करती है । यह प्रमाजणत दकया िाता है दक इस अजधसूचना को भूतलक्षी प्रभाि ददए
िाने से दकसी पर भी कोई प्रजतकु ल प्रभाि नहीं पडेगा ।
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
[INCOME-TAX]


New Delhi, the 28th June, 2022

S.O. 2928(E).—In exercise of the powers conferred by the third proviso to sub-section (2) of section 92C of the Income-tax Act, 1961 (43 of 1961)(hereafter referred to as the „said Act‟), read with proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962, the Central Government hereby notifies
that where the variation between the arm‟s length price determined under section 92C of the said Act and the price at which the international transaction or specified domestic transaction has actually been undertaken does not exceed one per cent. of the latter in respect of wholesale trading and three per cent. of the latter in all other cases, the price at which the international transaction or specified domestic transaction has actually been undertaken shall be deemed to be the arm‟s length price for assessment year 2022-2023.
Explanation.- 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:-
(i) purchase cost of finished goods is eighty per cent. or more of the total cost pertaining to such
trading activities; and
(ii) average monthly closing inventory of such goods is ten per cent. or less of sales pertaining to
such trading activities.
[Notification No. 70/2022/F. No. 500/1/2014-APA-II]
RUCHIKA SHARMA, Under Secy.
Explanatory Memorandum
The notification provides for tolerance range of one per cent. for wholesale trading and three per
cent. in all other cases for assessment year 2022-2023. It is certified that none will be adversely affected by
the retrospective effect being given to the notification.

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