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MPLADS fund to promote startups in IndiaCBDT issues transfer orders for 87 Pr CITs of Income Tax grade officersCBEC promotes 124 officers as DCsC2B Transactions - whether liable to GST under RCM?Cus - S.129E did not defeat or render vested right of appeal illusory - condition of pre-deposit is a reasonable condition: HCGoyal calls for adding value to mineral wealth of India20 yrs of ITA Agreement - Membership grows to 82 WTO MembersI-T - Cost of interest on borrowed funds used for acquiring capital asset, can be taken as cost of acquisition of asset: ITATCX - Penalty u/s 11AC would follow, as night follows day, only if, finding is returned that there was an escapement of duty due to conscious and deliberate wrongdoing on part of the Assessee: HCOpposition grows against 12% GST rate on sanitary napkinsGST - CBEC notifies deemed registration rules + substitutes 'provisional ID' by 'GSTIN'GST - Union Govt notifies Composition Scheme for NINE Special Category States + Also under UTGSTUnion Minister launches Digital MSME Scheme; gives away awardsEU slaps USD 2.7 billion penalty on Google for manipulating search resultsCBEC wants speedy clearance of office space for CGST CommissioneratesCBDT notifies format for furnishing Aadhaar details made mandatory from July 1, 2017Action Plan to boost up Cruise Tourism, a growth driver for India: GadkariGST - Some initial problems are bound to be there; Real Estate may be roped in under GST by next year, says FM25 Ministries to turn into e-office by June-end: MinisterGovt issues guidelines on GST RegistrationDownpour throws life out of gear in MumbaiIndia, USA to strengthen defence relations; Guardian drones cleared for IndiaBoard assigns proper officer for Registration and Composition levy under CGST, 2017100 Tweets FAQ released by BoardN-E to benefit from GST: Dr Jitendra SinghST - Respondents not providing service to trainees but to central/state government - classifiable under BAS and exempted under 14/2004-ST: CESTATI-T - Reopening cannot be instituted on basis of DVO's report showing unaccounted cost of construction incurred by previous proprietor, when assessee firm has never even existed: HCCus - DGFT notification is a law and not an executive instruction - merely submitting a declaration of end use is not sufficient : HCUS Supreme Court upholds Trump's temporary travel ban on travelers from six Islamic countries
 
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