Taxindiaonline.com Taxindiaonline.com Taxindiainternational.com HRindiaonline.com
 
LOGIN
Forgot Password |  Register
Saturday , October 25, 2014 | Updated : Oct 25, 16:09 IST
Income Tax    Customs    Excise    Service Tax    FEMA    DGFT    SEZ    Misc    Pitara    Budget   
About Us Contact Us Advertise
Taxindiaonline.com Taxindiaonline.com Taxindiainternational.com
NEWS FLASH
 
Companies Act amended to accommodate contribution to Swachch Bharat Kosh & Clean Ganga Fund set up by Central Govt (See Notification in 'TIOL Library') VAT - Whether if buyer pays catalogue price less transport rebate allowed, irrespective of sum paid for freight charges, fluctuation in freight charges do affect consideration payable by buyer: SC (See '2014-TIOL-88') Govt sets up Think Tank to Draft New IPR Policy; Justice Prabha Sridevan appointed as Chairperson (See 'Breaking News') CENVAT - Duty paid SIM cards returned as defective and appellant taking credit & later, after rectification, clearing same on payment of duty - prima facie credit taken correctly - Pre-deposit waived and stay granted: CESTAT (See 'Breaking News') Budget session of Telangana Assembly from Nov 5 (See 'Mixed Buzz') CBEC notifies New Review Committee of CCs for Customs cases (See Circular in 'What's New') Whether reference u/s 142A is not allowed after assessment or re-assessment: ITAT (See '2014-TIOL-765') Appointment of Chief Information Commissioner in Central Information Commission (See 'Service News' in Pitara) 20 FDI proposals worth Rs 988 Crore approved; Sistema Shyam proposal rejected (See 'What's New') Food Minister urges FM to hike import duty on edible oils Impact of natural disaster hitting some parts of India - CBEC extends ST-3 last date to Nov 14 (See 'Order' in 'What's New') ST - Payment of overriding commission to appellant for promoting sale of goods of manufacturers by making available marketing network & adding brand value to products to attract customers - appellant to pay ST under BAS - demand and penalty upheld: CESTAT (See 'Breaking News') Central Excise - Valuation - Promotional discount paid from dealer's margin whether includible in assessable value - Maruti ordered to pre-deposit Rs 150 Crores: CESTAT (See 'Breaking News') CX - Valuation - Maruti case – Another Fiat in the making? (See 'DDT') Income tax - Whether sale of immovable property through medium of MoU falls within meaning of transfer as per Sec 2(47) - YES: HC (See 'Breaking News') Six Months time for taking CENVAT Credit - Applicable for invoices issued prior to 31.08.2014? (See 'DDT') Service Tax - Appeals - Pre-deposit of  Rs. 20 Crore ordered by Tribunal on Agency of State, waived: High Court (See 'Breaking News') Is Rule 14 ultra vires Central Excise Act? (See 'ST se GST tak') Why People don’t pay taxes? (See 'DDT' Column) CX - Commissioner has no jurisdiction to reallocate CENVAT distributed by ISD - assessee is not entitled to take credit on services mentioned in rule 6(5) which is attributable to trading as during material period it was neither taxable nor exempted: CESTAT (See 'Breaking News') I-T - Whether commission paid to foreign agent for liaisoning and monitoring work outside India would be allowed deduction u/s 35: HC (See '2014-TIOL-1851') Growing use of armed drones in domestic jurisdiction may violate rights of citizens: UN Experts (See 'Mixed Buzz') CX - Commissioner has no jurisdiction to reallocate CENVAT distributed by ISD - assessee is not entitled to take credit on services mentioned in rule 6(5) which is attributable to trading as during material period it was neither taxable nor exempted: CESTAT (See 'Breaking News') I-T - Whether commission paid to foreign agent for liaisoning and monitoring work outside India would be allowed deduction u/s 35: HC (See '2014-TIOL-1851') Growing use of armed drones in domestic jurisdiction may violate rights of citizens: UN Experts (See 'Mixed Buzz') Diwali celebrations in Srinagar: PM announces Rs 745 Cr relief package for J&K India to sign MoU in Beijing as founding member of Asia Infrastructure Investment Bank PM flays attack on Canadian Parliament Rising NPAs - Fault lies with our lax Regulator! (See 'The Cob (Web)' Column) Income tax - Whether any adjustment to value of property as on 01.04.1981 can be made based on the DVO's Report of 2012 - NO: ITAT (See '2014-TIOL-760')
 
Bookmark and Share
DDT is one year old

TIOL- DDT 252
01 12 2005
Thursday


One YEAR of DDTDAILY DOSE OF TAXATION

with Vijay Kumar

It’s not celebration but a reminder that so much is yet to be done! Thank you netizens for your support.


 

EPCG – 25% bank guarantee for custodians

Board has decided that service providers in the port handling sector who are appointed as Custodians by the jurisdictional Customs/Central Excise authorities shall be eligible for 25% Bank Guarantee for importing capital goods under EPCG Scheme. Circular No.58/2004-Cus. dated 21.10.2004 stands modified to this effect.

CIRCULAR NO. 49/2005-Cus, Dated : November 29, 2005

Anti-dumping duty on Acrylonitrile Butadiene Rubber (NBR),

The Anti-dumping duty on Acrylonitrile Butadiene Rubber (NBR), originating in, or exported from European Union (except Germany), Brazil and Mexico was imposed by Notification No. 53/2005-Customs dated the 7th June, 2005 and was to be valid till 6th day of December, 2005. Now this provisional duty is confirmed and Notification No. 53/2005 is superseded.

NOTIFICATION NO. 100/2005-Cus., Dated: November 29, 2005

Standard Input Output Norms (SION) changes

The DGFT has brought in several changes in the Standard Input Output Norms (SION)

PUBLIC NOTICE NO. 70 (RE:2005)/2004-2009, Dated: November 29, 2005

Import of marble – DGFT clarifies

As per DGFT Circular No. 24/2004-09 dated 30.8.2005,

“Eligibility- Entitlement would be restricted to those applicants who have set up manufacturing / processing units in the country and have made imports of these items in the preceding years when these items were under SIL list.”

Now the DGFT clarifies that

“manufacturing / processing units should have been set up during the years when marble was under SIL List or before. Hence documentary evidence showing establishment of manufacturing / processing units during that period should be produced”.

Similarly the circular prescribed that

The total import of rough marble blocks under Exim Code Nos.25151100, 25151210, 25151220, will be subject to a ceiling of 1.30 lakh MT per licensing year. The entitlement of individual firm will be worked out on the basis of the turnover of the preceding year. The applicant will be required to furnish a Chartered Accountant certificate certifying his turnover.

Now the DGFT clarifies that

the entitlement will be calculated on the basis of the turnover of marble imported under Chapter 25 of the ITC (HS) Classification of Export Import Items 2004-09 only. These companies who have been importing under Chapter 25 may also add their complete turnover for imported marble for the preceding year i.e. 2004-05. For this purpose a revised Chartered Accountant certificates indicating turnover of the preceding year (2004-05) based on above criteria should be filed.

POLICY CIRCULAR. NO 34 (RE-2005)/2004-09, Dated : Nov 30, 2005

Corrupt Customs – a global phenomenon?

Of 10 areas rife with corruption in Vietnam, the field considered top is land management, followed by customs and traffic police, according to a survey by the Central Committee for Internal Affairs.

Most respondents said that corruption is stirred by greed, not by poverty, because it often occurs among figures in authority. Corrupt officials often intentionally cause difficulties for citizens seeking civil services in order to extort money from them. 

From a report in VietNamNet Bridge yesterday.

Until tomorrow with more DDT

Have a nice day.

Mail your comments to vijaywrite@taxindiaonline.com


 RECENT DISCUSSION(S) POST YOUR COMMENTS
   
 
Sub: happy b'day

Wishing all the best for the DDT baby! It is really making very good impact among all concerned. Keep it up.

nuts.

Posted by jaikumar seetharaman
 
Sub: Crossing the infant stage

Sir,

Congrats and many wishes for the day. DDT has crossed the infant stage and has become a house hold name among netizens of TIOL In these fast moving days such daily dose is absolutely necesaary to keep oneself updated. DDT means Daily Doubt removing Tree- Best wishes again.
By,
M.RAM KUMAR,
BANGALORE

Posted by ramkumar ramkumar
 
 
 
TIOL Mobile App
TIOL SEARCH
 
TIOL Subscriptions
 All-In-One Package
 Indirect Tax Package
 Income Tax Package
<< More Packages>>
 
   
             
Income Tax Customs Excise Service Tax FEMA DGFT SEZ Misc Pitara Budget
  • Notifications
  • Circulars
  • SC Cases
  • HC Cases
  • ITAT Cases
  • Instructions
  • Advance Ruling
  • Settlement
  • Other Case
  • Directorate of Income Tax (Systems)
  • Tariff Notfn
  • Non Tariff Notfn
  • Circulars
  • SC Cases
  • HC Cases
  • Cestat Cases
  • Settlement
  • Advance Ruling
  • Safeguard Duty Notfn
  • Anti-dumping Notfn
  • Drawback Cases
  • Tariff Notfn
  • Non Tariff Notfn
  • Circulars
  • SC Cases
  • HC Cases
  • Cestat Cases
  • Settlement
  • Advance Ruling
  • Excise Amendment
  • Clean Energy Cess Notfn
  • MISC Circulars
  • 37B Order
  • Commr.(A) Order
  • CESTAT
  • Notifications
  • Circulars
  • SC Cases
  • HC Cases
  • Cestat Cases
  • Miscellaneous
  • Advance Ruling
  • FAQ
  • Finance Act, 1994
  • Commr. (A) Orders
  • 37B Order
  • Removal of Difficulty
  • VCES
  • Accounting Head
  • Exchange Manual
  • Fema Notifications
  • SC Cases
  • HC Cases
  • RBI Notifications
  • Act
  • Rules
  • Regulations
  • Master Circulars
  • RBI Circulars
  • Notifications
  • Circulars
  • Public Notices
  • Trade Notice
  • FTDR Amendment 2010
  • MISC
  • State Acts
  • Notifications
  • Instructions
  • Act 2005
  • Rules 2006
  • DGEP
  • State Policy
  • SC Cases
  • HC Cases
  • VAT Cases
  • Deputation Posts
  • Service News
  • The Insider
  • Transfer
  • Promotion
  • Recruitment Rules
  • Transfer Policy
  • Training Circulars
  • Service Cases
  • MISC
  • Pay Commission
  • Cadre Review
  • Budget Circular 2013-14
  • Union Budgets
  • Economic Surveys
  • Budget Speeches
  • Finance Acts
  • Finance Bill
  • TRU - D. O. Letter
  • A Taxindiaonline Website. Copyright © 2014 Taxindiaonline.com Pvt.Ltd. All rights reserved. | Powered by 4th Dimension