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What is the format of transfer pricing report

Vivek Agrawal (GST Practitioner) (181 Points)

11 September 2019

My company entered into specified domestic transactions. The tax auditor of my company has filed 3CEB. However TP assessing officer is asking to submit TP Report.

My question is what is TP report and whether it is different from 3CEB? If yes, will any body provide me its format

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5 Replies

Kapadia Pravin (17259 Points)
Replied 11 September 2019

Same 3CEB report for transfer pricing.
Pl check and confirm with your tax Auditor

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Vivek Agrawal (GST Practitioner) (181 Points)
Replied 12 September 2019

thanks for reply. But 3CEB have already been filed, however, TP assessing officer is insisting to submit TP report

Harsh Doshi (32 Points)
Replied 07 November 2019

Yes. TP report is different from Form 3CEB. TP report contains a detailed evaluation as to why were the transactions considered to be at arm's length.

debora M (BUSINESS DEVELOPMENT MANAGER) (1697 Points)
Replied 07 November 2019

Yes, it is different.

The expression “transfer pricing” generally refers to prices of transactions between associated enterprises which may take place under conditions differing from those taking place between independent enterprises. It refers to the value attached to transfers of goods, Services, and technology between related entities located in different territories. It also refers to the value attached to transfers between unrelated parties which are controlled by a common entity. Or in other words, profits accruing to the parent company can be increased by setting high transfer prices to siphon profits from subsidiaries domiciled in high tax countries, and low transfer prices to move profits to subsidiaries located in low tax jurisdiction.