News Update

Call drops - Problem is mostly indoors, says DoTACES fails again; CBEC feels compelled to extend ST Return filing date to April 30PM reviews performance of key infrastructure sectorsCX/CUS/ST - To prefer an appeal before Tribunal, appellant needs to deposit 10% of amount of duty/penalty irrespective of amounts equivalent to 7.5% deposited by them before Commr.(A): LBFM clarifies Union Govt has no plan to levy income tax on agri incomeST - If contention of department is accepted that appellant cannot be treated as service provider then payment made should not be treated as that of service tax but as reversal of CENVAT credit availed - Appeals allowed: CESTATSwachh Bharat Bug Finally Catches Up With CBDTCBDT clarifies rent from letting out of space with amenities in SEZ to be treated as business incomeGujarat goes for massive bureaucratic reshuffle - 45 IAS officers transferredHigh Seas Sales in GST RegimeExpenditure tax - Composite charges collected by hotel can be quantified only upon conclusion of stay of guests: HCCus – Appellants were bonafide transferee of DEPB scrip with no involvement in the forgery or fraud before DGFT – no penalty imposable – ROM allowed: CESTATST – Maintenance of software cannot be taxed under 'Management, maintenance or repair service' prior to 01.06.2007: CESTATPension Regulator makes it online for retirement advisersCBI nabs several Plant Quarantine officials + CHAs & Shipping Agents in corruption casee-PRAN card launched for Atal Pension YojanaSitharaman to inaugurate Spices Farmers Producer CompaniesCyber Crime - INTERPOL detects 9000 C2 servers; websites infected with malware codeRental income from space equipped with ameniteis in SEZ to be treated as business incomeCBDT prescribes method for valuation of FMV of assets owned by Trusts / InstitutionsGovt eases PF rules to allow withdrawal for house purchaseIf Govt grants waiver of loan to farmers, it may cost 2% of GDP: Arvind SubramanianCX - Exemption - Sec 11C Notification - Court cannot direct Government to grant exemption - No violation of Article 14: SCGST Network to provide standard software for small tradersClearance of Gift and Personal Use parcels imported through Courier modeST - Tribunal ordering appellant to pay further sum is bereft of any rationale as substantial part of demand stood deposited: HCI-T - Special limitation imposed on EOU for claiming deductions, by way of insertion of Sec 80A(5) and Fourth proviso to Sec 10B(1), is not violative of Constitution of India: HCCX - Activity of assembling various computer components into working system not manufacture: CESTATMinto Road Govt Press to be 'reborn' at cost of Rs 339 Crore
 
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