Taxindiaonline.com
Taxindiaonline.com Taxindiaonline.com TIOL Tube Taxindiainternational.com
 
LOGIN
Forgot Password |  Register  
Tuesday , May 3, 2016 | Updated : May 2, 23:14 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
 
Mallya puts in papers before expulsion from Rajya Sabha Govt empowers Press Council of India to collect higher fees from registered newspapers Govt imposes definitive anti-dumping duty on Measuring Tapes (See 'What's New') Budget 2016 - Amendment in Customs & Central Excise Tariff (See 'Guest Column) GVO in Manufacturing Sector was over Rs 65 lakh crore in 2013-14 (See 'Mixed Buzz') Govt to amend EPFO scheme to allow sick PSUs to run own Trusts (See 'Mixed Buzz') Doctrine of Consistency - CBDT directs AOs to treat income arising from transfer of unlisted shares as capital gains irrespective of period of holding (See Instruction) ST - There is no question of any recovery of tax by coercive means, unless investigation results into issuance of SCN, an opportunity to Petitioner to resist demand, an adjudication thereof by reasoned order & protective remedies such as appeals: HC (See 'Breaking News') Jaipur Airport Customs nabs pax with gold slabs worth Rs 55 lakhs Govt okays FDI proposals worth Rs 517 Cr (See 'Mixed Buzz') No law but steps taken to safeguard Rights of Tourists (See 'Mixed Buzz') CBDT tightens procedure for claiming house rent allowance; New Rule 26C inserted for furnishing evidence relating to landlord (See 'What's New') Rule 6 amended to insert word Pr CCIT or DGIT; For No 3CK and 3CL amended (See 'What's New') Govt okays FDI proposals worth Rs 517 Cr, including Rs 475 Cr proposal of M/s Helix Investment Congress seeks debate on CAG Report on KG Basin in Rajya Sabha; House adjourned Petition challenging ST on ‘admission & access to entertainment event and amusement facilities’ - No trenching of Parliament on power conferred on State - two aspects taxed by respective legislatures are 'service' and 'amusement’: HC CESTAT Saved Just In Time + ER-1 in ACES - Stops with Superintendent (See 'DDT' Column) I-T - Whether Revenue can resort to adjustment of pending demand against refund due to assessee without issuing notice u/s 245 - NO: HC (See 'Breaking News') CX - Notfn 10/97 - Air conditioning & refrigeration equipment supplied to R&D Cell of Defence Ministry & modified as a result of research for use in specialized mobile operation theatres for use by Indian Army in field are entitled for exemption: CESTAT (See 'Breaking News') What to do with Blackberry Phones given to Income Tax Officers? (See 'DDT' Column) DVAT - Whether if reasons recorded by AO fail to specify how original assessment is prejudicial to interests of Revenue & in what manner deductions had been wrongly claimed & allowed to assessee, assessment can still be reopened merely on estimation basis - NO: HC (See '2016-TIOL-855') Procedure for grant of Factory/Warehouse Stuffing Permission to the Exporters (See 'DDT' Column) I-T - Whether Revenue can resort to adjustment of pending demand against refund due to assessee without issuing notice u/s 245 - NO: HC (See 'Breaking News') EPFO launches special campaign - ‘One Employee - One Account’ on May Day
 
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
 
 
 
Download TIOL App
TIOL SEARCH
 
TIOL Subscriptions
 All-In-One Package
 Indirect Tax Package
 Income Tax Package
<< More Packages>>
 
   
HOME    BACK TO TOP   
             
Income Tax Customs Excise Service Tax FEMA DGFT SEZ Misc Pitara Budget
  • Notifications
  • Circulars
  • Instructions
  • SC Cases
  • HC Cases
  • ITAT Cases
  • Advance Ruling
  • Settlement
  • Other Cases
  • Directorate of Income Tax (Systems)
  • Tariff Notfn
  • CVD
  • Non Tariff Notfn
  • Circulars
  • Anti-dumping Notfn
  • Safeguard Duty Notfn
  • SC Cases
  • HC Cases
  • Cestat Cases
  • Advance Ruling
  • Settlement
  • Drawback Cases
  • MISC Circulars
  • Tariff Notfn
  • Non Tariff Notfn
  • Circulars
  • SC Cases
  • HC Cases
  • Cestat Cases
  • Advance Ruling
  • Clean Energy Cess Notfn
  • Excise Amendment
  • MISC Circulars
  • 37B Order
  • Commr.(A) Order
  • Settlement
  • Tribunal
  • Notifications
  • Circulars
  • SC Cases
  • HC Cases
  • Cestat Cases
  • Advance Ruling
  • FAQ
  • Finance Act, 1994
  • Commr. (A) Orders
  • 37B Order
  • Removal of Difficulty
  • VCES
  • Accounting Head
  • Miscellaneous
  • DIPP Notification
  • Exchange Manual
  • Fema Notifications
  • SC Cases
  • HC Cases
  • RBI Notifications
  • RBI Circulars
  • Act
  • Rules
  • Regulations
  • Master Circulars
  • PMLA Notifications
  • Depository Scheme
  • Press Note
  • Notifications
  • Circulars
  • Public Notices
  • Trade Notice
  • FTDR Amendment 2010
  • Notifications
  • Instructions
  • Act 2005
  • Rules 2006
  • DGEP
  • State Acts
  • State Policy
  • MISC
  • SC Cases
  • HC Cases
  • VAT Cases
  • Service News
  • Promotion
  • Transfer
  • Deputation Posts
  • Cadre Review
  • Transfer Policy
  • Training Circulars
  • Recruitment Rules
  • Pay Commission
  • Service Cases
  • The Insider
  • MISC
  • Budget Speeches
  • Union Budgets
  • Economic Surveys
  • TRU - D. O. Letter
  • Finance Acts
  • Finance Bill
  • Budget Circular
  • A Taxindiaonline Website. Copyright © 2016 Taxindiaonline.com Pvt.Ltd. All rights reserved. | Powered by 4th Dimension