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Correction in challan attributes in respect of IDS, 2016 payments - reg32 officers to receive awards on Central Excise Day tomorrowSuman Saxena takes over as full fledged member of Bankruptcy BoardCabinet makes way for mega solar power projects with 40,000 MW capacityAfghani national caught with endangered corals speciesCabinet gives nod to India Poland Agreement on agricultural co-operationIT Ministry launches Cyber Swachhta KendraGovt's limitation in demonetization analytics should rekindle tax reformsCentral Excise - CESTAT cannot reduce mandatory penalty: Supreme CourtI-T - No additions warranted on gross value of cash deposits which represents turnover, if it did not breach profit limit prescribed u/s 44ADST -Collection of data on consumption of electricity by MSEDCL customers by taking photos of meter reading for generation of bills is taxable under BAS: CESTATCash deposit post demon(etisation) - CBDT guidelines for AO'sCBI arrests three Central Excise officials in graft caseITAT Vice President G D Agrawal gets officiating charge of PresidentUplift of 'Digital Payments' - more than INR 150 crore distributed as 'reward'Govt notifies all provisions of protocol amending India Israel DTAA (See 'DTAA' in 'TII')Anti Dumping - Writ Petition against final findings of Designated Authority: High Court was not justified in exercising its writ jurisdiction: SCCivil Services Day - PM Awards to be given today90K more affordable houses sanctioned for urban poorIndia offers tech knowhow to ASEAN in telecom sectorRestricting doubly exempt Corpus DonationST - Tribunal is barred from rendering finding or recording an order on matter in which appellant has not placed itself within Tribunal's appellate jurisdiction: CESTATI-T - No penalty is leviable, if basis of addition itself ceases to survive: ITATCX - SSI notfn. 8/2001 - Intent to take advantage of recognition enjoyed by another brand is critical to invoking of exception provision: CESTATCBEC grants Sec 11C benefit on services provided by Common Effluent Treatment Plant for period 2012 to 2015ACC promotes 292 CBDT officers as Principal CITAppointment of Special Public Prosecutors for income tax cases - JS-level officer from Ministry of Law to join screening panel for metrosCBI books senior IAS officer in graft caseIndia keen to give fillip to relations with African countries: AnsariHome buyers' complaint - SC toughens stand against Unitech; directs to deposit interest within 8 weeksFICN worth about Rs one crore seized on Indo-Bangla borderKalindi Express rams into goods train at Tundla StationChange in rate of tax vs. Change in effective rate of taxI-T - Rent earned by assessee engaged in business of leasing properties, will be taxable as 'business profits': ITATST - 'gross amount charged', is not an isolated phrase but to be read in conjunction with expression 'for such service provided': CESTATCX - Merely because Autolite India Ltd is a group company, appellant cannot use its brand name and claim SSI benefit: CESTAT
 
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