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GST - Sushil Modi further sensitises Infosys; EDIT facility for returns to be activated soonGovt sets up Second National Judicial Pay CommissionImpact of Moody's rating upgrade - NHAI projects become less riskyIT infra missing at many Customs stations - CBEC Chairperson asks for speeding up installation of netwrok equipmentsIncome Tax seizes cash to tune of Rs 11 Crore from NSE brokerAustralians support same-sex marriage in national surveyDigital economy to the fore again (See 'TII EDIT')Renewable Energy - Challenge is research in storage technologyICAO Audit finds safety system in placeI-T - Interest received towards late payment following award passed by District Court is taxable income: HCPM reviews performance of key infra projectsCX – Blinds are in nature of curtains and cannot be said to become immovable properties when they are mounted on wall: CESTATGST Administration facing acute manpower shortage at Group 'A' level; About 1900 posts remain vacant against over 5800 posts in CBECJD(U) election symbol - EC verdict out; Nitish faction defeats Sharad Yadav splinter groupSEBI bans Swarnabhumi Agritech India & its Directors for four yearsGST - MRP - additional stickers allowed upto Dec 31, 2017CBDT invites comments of stakeholders for conversion of Indian branches of foreign banks to Indian subsidiary companyMoody's upgrade India's credit rating to Baa2CBDT issues transfer order of 7 DC/ACITsBudget 2018 - MoF invites suggestions from Industry and TradeCommerce Minister to participate in Shanghai Cooperation Organization meetingGST - CBEC clarifies on refund of unutilised ITC of GST paid on inputs by fabric exportersCBDT issues transfer order of 8 Addl / JCITsGST - FICCI steps up demand for inclusion of natural gasRevenue Secretary welcomes Moody’s upgraded rating; GST gets full creditGST receipts - Agency commission to banks - Mumbai office of RBI to settle all claimsTaxability of High Sea Sales under Customs & GST - A detailed analysisSiliguri DRI seizes over 7 kg gold worth Rs 2.3 Crore smuggled from Bhutan & MyanmarCabinet sanctions posts of Chairman & Members of National Anti-Profiteering AuthorityUnion Cabinet extends aid to strengthen infra for judiciaryCBEC notifies new Customs exchange rates effective from November 17, 2017
 
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