TIOL-DDT 1625 · the untouched capture
Rendered as it looked. Links and images are disabled in this view; the file itself is untouched.
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"
"http://www.w3.org/TR/html4/loose.dtd">
<html>
<head>
<title>Untitled Document</title>
<meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1">
</head>
<body>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399" size="3">TIOL-DDT 1625</font><br>
08.06.2011<br>
Wednesday </strong></font></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">FTP - Export of Wheat Flour to Maldives </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>EXPORT</strong> of 32,094.70 MTs of wheat flour to Maldives, for the year 2011-12, was permitted through Notification No. 43(RE-2010)/2009-2014 of 20.04.2011. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now, the quantity of wheat flour, as indicated below, is permitted to be exported for the years 2011-12, 2012-13 and 2013-14 to Maldives under the Bi-lateral Trade Agreement between Government of India and the Republic of Maldives, through the designated PSU – MMTC Ltd. </font></p>
<table width="450" border="1" align="center" cellpadding="3" cellspacing="0">
<tr>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Year </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Quantity in MTs </font></strong></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2011-12 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">32,095 </font></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2012-13 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">35,304 </font></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2013-14 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">38,835 </font></p></td>
</tr>
</table>
<p><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2010/dgft10not053.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 53 (RE-2010)/2009-2014, Dated: June 07, 2011</font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">FTP - Export of Stone Aggregate to Maldives</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>GOVERNMENT</strong> has substituted the Export Licencing Note 1 and 2 as appearing in para-2 of Notification No.45/2009-2014 dated 21.05.2010 with Export Licencing Note 1.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Export of the quantities of Stone Aggregate with the annual ceiling indicated below has been permitted for export to the Republic of Maldives under Bi-lateral Trade Agreement between Government of India and Government of the Republic of Maldives.</font></p>
<table width="90%" border="1" align="center" cellpadding="3" cellspacing="0">
<tr valign="top">
<td rowspan="2"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Item </font></strong></td>
<td colspan="3"><div align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Annual Ceiling of Quantity in MTs </font></strong></div></td>
</tr>
<tr>
<td><div align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2011-12 </font></div></td>
<td><div align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2012-13 </font></div></td>
<td><div align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2013-14 </font></div></td>
</tr>
<tr valign="top">
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Stone Aggregate </font></td>
<td><div align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5 lakh </font></div></td>
<td><div align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5.5 lakh</font></div></td>
<td><div align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6 lakh </font></div></td>
</tr>
</table>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">For export of the above quantity of Stone Aggregates, CAPEXIL shall ensure that the suppliers/extractors have obtained appropriate clearances. </font></p>
<p><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2010/dgft10not054.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 54 (RE-2010)/2009-2014, Dated: June 07, 2011 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">FTP – Export of River Sand to Maldives</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>GOVERNMENT</strong> has added Export Licencing Note 2 in Chapter 25 of ITC(HS) Classification of Export and Import items. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Export of the quantities of River Sand with the annual ceiling of 1,185,455 MTs for the Financial Year 2011-12 (on annual basis) has been permitted for export to the Republic of Maldives under Bi-lateral Trade Agreement between Government of India and Government of the Republic of Maldives. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">For export of the above quantity of River Sand, CAPEXIL shall ensure that the suppliers/extractors have obtained appropriate clearances and mining of the sand is not undertaken in the Coastal Regulation Zone Area, which is prohibited under the Coastal Regulation Zone notification. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Further export of River Sand will be allowed subject to the exporter obtaining necessary environmental clearances/No Objection Certificate from the designated nodal authority of respective State Governments from where the River Sand is obtained. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2010/dgft10not055.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 55 (RE-2010)/2009-2014, Dated: June 07, 2011 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Useless Records Lying in Central Excise Offices </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>IN</strong> response to yesterday's <strong>DDT</strong> comments on mountains of useless papers lying in Central Excise offices, an alert Netizen pointed out that the Board had already issued instructions. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">In Board's <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=25&filename=notification/custom/2006/doletter.htm"><strong>D.O. LETTER F.No. 207/09/2006-CX.6 dated 08.09.2006 from Member (CX & ST), CBEC, New Delhi</strong></a>, Board Member had stated, </font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><em>It has been brought to the notice of the Board that the records seized in connection with offence cases are not being returned to the assessees in spite of repeated requests made by them. This not only causes undue hardship to the assessees, as they require such records for various statutory obligations, but it also unnecessarily occupies space in our offices. </em></font></p>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. In this regard, your attention is invited to the Board's Circular No. 42/88-CX, dated 24.05.1988 and No. 48/88-CX.6 dated 10.06.1988. As per these circulars, the documents / records which are not relied upon in the Show Cause Notice are required to be returned under proper receipt to the persons from whom they are seized. I wish to reiterate compliance of these instructions. In fact, the Show Cause Notice itself may incorporate a clause that unrelied upon records may be collected by the <strong>concerned</strong> persons within 30 days of receipt of the Show Cause Notice. The designation and address of the officer responsible for returning the relied upon records should also be mentioned in the Show Cause Notice.</font></em></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">We had covered this in <strong><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=4542" target="_blank">DDT 492 – 16.11.2006</a></strong><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=4542">.</a></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Obviously, nobody is <strong>concerned</strong> and no officer ever mentions this in the Show Cause Notice. In fact, Board had been issuing such instructions from way back in the year 1988. </font></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">All Stocks, debentures etc, to be in DMAT form only - Suggestions invited</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> Ministry of Corporate Affairs (MCA) is proposing to issue the Companies (Dematerialization of Certificates) Rules, 2011 with effect from 1 st October 2011 stipulating that: </font></p>
<blockquote>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">All public Companies and their subsidiaries which have raised money by issue of shares, debentures, by accepting public deposits, stock, bond or any other financial instruments from public, other than from directors of the company, shall issue and keep such share certificates, debenture certificates and certificates issued for receipt of deposits, stock, bond or any other financial instruments in dematerialized form only, in the manner prescribed in the Depositories Act, 1996 and regulation made there under. </font></em></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Ministry has invited comments / recommendations to the Ministry latest by 30th June, 2011 by e-mail to <a href="mailto:monika.gupta@mca.gov.in"><strong>monika.gupta@mca.gov.in</strong></a></font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=wnew/mcacir.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">MCA No. 17/143/2011-CL.V, Dated: June 06, 2011</font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Future Air Travel - No stopping, stripping or unpacking, and certainly no groping </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>YESTERDAY</strong> the IATA, unveiled the first mock-up of a Checkpoint of the Future, designed to enhance security while reducing queues and intrusive searches at airports, using intelligence-driven risk-based measures. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Giovanni Bisignani, IATA's Director General and CEO said, </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><em>We spend USD7.4 billion a year to keep aviation secure. But our passengers only see hassle. Passengers should be able to get from kerb to boarding gate with dignity. That means without stopping, stripping or unpacking, and certainly not groping. That is the mission for the Checkpoint of the Future. We must make coordinated investments for civilized flying. </em></font></p>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Today's checkpoint was designed four decades ago to stop hijackers carrying metal weapons. Since then, we have grafted on more complex procedures to meet emerging threats. We are more secure, but it is time to rethink everything. We need a process that responds to today's threat. It must amalgamate intelligence based on passenger information and new technology. That means moving from a system that looks for bad objects, to one that can find bad people </font></em></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><img src="http://www.taxindiaonline.com/RC2/image/stories/ddt_1625.jpg" alt="Legal Corner Icon" width="420" height="289" hspace="5" border="0" align="center"></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><em>The Checkpoint of the Future ends the one-size-fits-all concept for security. Passengers approaching the checkpoint will be directed to one of three lanes: ‘known traveler', ‘normal', and ‘enhanced security'. The determination will be based on a biometric identifier in the passport or other travel document that triggers the results of a risk assessment conducted by government before the passenger arrives at the airport.</em></font></p>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The three security lanes will have technology to check passengers according to risk. “Known travelers” who have registered and completed background checks with government authorities will have expedited access. “Normal screening” would be for the majority of travelers. And those passengers for whom less information is available, who are randomly selected or who are deemed to be an “Elevated risk” would have an additional level of screening. </font></em></p>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Screening technology is being developed that will allow passengers to walk through the checkpoint without having to remove clothes or unpack their belongings. Moreover, it is envisioned that the security process could be combined with outbound customs and immigration procedures, further streamlining the passenger experience. </font></em></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Jurispruden</font><font color="#FF6633" size="5">tiol</font><font color="#006600"> – Thursday's cases</font></strong></font></strong></font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a></a><img src="http://www.taxindiaonline.com/RC2/image/stories/ddt_hammer.jpg" alt="Legal Corner Icon" width="100" height="84" hspace="5" border="0" align="left"><font color="#663399"><strong>Service Tax</strong></font></font></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">A manufacturer can utilise CENVAT Credit for payment of Service Tax: CESTAT</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>IF</strong> you think that it is obvious and it does not need the support of the judgement of the Tribunal, you are not at fault. The concept of 'Common <em>CENVAT Credit</em> Rules' for manufacturers as well as service providers has not yet percolated down to field formations, not to the lowest rank officers, but even to the officers as high as Commissioners. </font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Income Tax</strong></font></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Sec
147 - <strong>Whether
reassessment can be initiated even if there is no nexus between 'reasons
to believe' recorded and the assessment framed</strong>: High Court</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> issue
before the Bench is - </font><font color="#000000" size="2" face="Verdana, Arial, Helvetica, sans-serif">Whether
reassessment can be initiated even if there is no nexus between 'reasons
to believe' recorded and the assessment framed</font>.</p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">Central Excise </font></strong></p>
<p align="justify"><font color="#FF6633"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Electrical motors cleared under Notification No. 64/95-Central Excise - Electrical motors had been used by Indian Navy on board a naval ship – Prima facie exemption available: CESTAT </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>IT</strong> is not the allegation in the show-cause notice that these motors were not supplied to Indian Navy. The only charge in the show-cause notice is that these electrical motors are not stores/consumable and, therefore, the exemption was not available. It is an admitted fact that these electrical motors had been used by the Indian Navy on board a naval ship, therefore, prima facie, the applicants are entitled for exemption as per Notification No. 64/95-CE as claimed by the applicants; Pre-deposit waived and Stay granted. </font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">See our columns Tomorrow for the judgements</font></strong></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until Tomorrow with more <strong>DDT</strong></font></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have a Nice Day.</font></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Mail your comments to</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <a href="mailto:vijaywrite@taxindiaonline.com"><strong>vijaywrite@taxindiaonline.com</strong></a></font></p>
</body>
</html>