This proposed new clause seeks to exclude large import houses from Final Tax Regime.  The large import houses would be those who:

• have paid-up capital in excess of Rs. 100 million;
• have imports exceeding Rs.500 million during the tax year;
• own total assets exceeding Rs. 100 million at close of the tax year;
• a single object company;
• maintaining computerized records of imports and sale of goods;
• maintaining a system for issuance of 100% cash receipts on sales;
• presenting accounts for tax audit every year;
• registered with Sales Tax Department; and
• make sales to only sales tax registered persons.