TIOL-DDT 1743 · the untouched capture
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<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399" size="3">TIOL-DDT 1743 </font><br>
30.11.2011 <br>
Wednesday </strong></font></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">First Prize Taxpayers' Lounge –International Trade Fair 2011 </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>TAXPAYERS'</strong> Lounge set up by Income Tax Department at India International Trade Fair 2011 from 14-27 November, 2011 has been adjudged First for Excellence in Display in the category Government Departments by India Trade promotion Organization (ITPO). </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Taxpayers' Lounge” had a very friendly look. The motto “Service with Smile” and caption “Taxpayer services at your door step” created a positive atmosphere. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">To communicate with the taxpayers, the Taxpayers' Lounge used all three modes of communications i.e. information, interaction and transaction. The tax tutorials running on the LCD screens, posters, pamphlets as well as Taxpayer Information series booklets and various Departmental publications such as <strong>Let Us Share </strong>(public versions) and the coffee table book commemorating 150 years of Income Tax in India were available for the taxpayers. Taxpayers also made full use of the live demonstration of services related to PAN, 26AS, TRP Scheme, e-filing, e-payment etc. The TRPs present at the stall educated the taxpayers about the scheme and also resolved their basic queries on various legal as well as procedural aspects on income tax. The taxpayers were also provided services related to application of fresh PAN, change in PAN as well as registration for 26AS and e-filing. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">During the entire period of the Trade Fair, almost 75-80 thousand persons visited the stall. The initiative to sensitize young minds to the importance of taxation was also appreciated. </font></p>
<p><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Source: CBDT Press Release </font></em></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Adjudicating Authority appointed for DRI SCN </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>BOARD</strong> has appointed Jt. or Addl. Commissioner of Customs, Central Excise and Service Tax, Hyderabad II Commissionerate to act as common adjudicating authority for exercising the powers and discharging the duties conferred on- </font></p>
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<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++ the Additional Commissioner of Customs, Custom House, Port Area, Visakhapatnam; and </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++ the Additional Commissioner of Customs, Central Excise and Service Tax, Hyderabad II Commissionerate, Hyderabad, </font></p>
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<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">for the purpose of adjudicating matters relating to a Show Cause Notice issued by the Additional Director, Directorate of Revenue Intelligence, Hyderabad Regional Unit. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2011/cnt11_083.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 83/2011 – Cus.,(NT.), Dated: November 29, 2011 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Courier Imports and Exports (Clearance) Regulations, 1998 Amended </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>COURIER</strong> Imports and Exports (Clearance) Regulations, 1998, are now applicable to goods imported or exported from Calicut airport as well. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2011/cnt11_084.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 84/2011 – Cus.,(NT.), Dated: November 29, 2011 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Implementation of Bar Coding on Export Consignments of Drugs and Pharmaceuticals - Clarification on Bulk Drugs </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>PUBLIC</strong> Notice No. 59 (RE-2010)/2009-14 dated 30.06.2011 had stipulated incorporation of barcodes (1 D) encoding unique product identification code (GTIN), Batch Number, Expiry Date and Unique Serial Number on export consignments of pharmaceuticals and drugs with effect from 01.10.2011 (Please see <strong><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=12712" target="_blank">TIOL-DDT 1642 01.07.2011</a></strong> also). </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">In this regard, it is clarified that the above bar-coding requirement is applicable only in respect of finished pharmaceutical products i.e. medical formulations and not Bulk drugs/APIs/Intermediates. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=46&filename=notification/dgft/2010/dgft10cir048.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Policy Circular No. 48/(RE-2010)/2009-14 Dated: November 28, 2011 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Launch of 10 Year National Savings Certificate - National Savings Certificates (IX Issue) Rules, 2011 Notified </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> Notification for launch of a new savings instrument, namely 10-Year National Savings Certificate (IX-Issue), 2011, was issued yesterday i.e. November 29, 2011. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The major highlights of this scheme are as follows: </font></p>
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<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++ Investments in Certificate will earn Interest at the rate of 8.7% p.a. compounded semi-annually. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++ On investment of Rs. 100, the depositor will get Rs. 234.35 on maturity of the Certificate. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++ This Certificate will be available in the denominations of Rs. 100, Rs. 500, Rs. 1000, Rs. 5000 and Rs. 10,000. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++ There is no upper limit for investment in the Certificate. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++ This Certificate can be transferred from a post office where it is registered to any other post office and it can be pledged as a security. </font></p>
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<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The scheme will come into effect from 1st December 2011. </font></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"><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>Income Tax </strong></font></font></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Income tax - Whether sum received on surrender of tenancy right is capital receipt and hence, not taxable - Ruled against Revenue: Delhi HC</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> question before the Bench is - Whether the amount received for surrender of tenancy right is a capital receipt and hence not taxable or a casual and non-recurring income chargeable u/s 10(3) of the Act. And the final verdict goes against the Revenue. </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"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Central Excise – Rule 11 bars assessees from availing credit during transition only when they are availing benefit of exemption notification based on quantity or value of goods in a financial year - No infirmity in order of Tribunal allowing transfer of credit - Karnataka HC</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>IN</strong> the instant case, the exemption notification availed by the assessee makes it very clear that the said exemption has no reference to the value or quantity of goods in a financial year. It is an exemption from payment of duty in respect of the goods which are set out in the Table to the said notification. In view of this, sub-rule (1) of Rule 11 has no application to the exemption notification in the instant case. Therefore, it is held that the Tribunal correctly interpreted Rules 10 and 11 and the exemption notification and therefore, there is no justification to interfere with the same. </font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">Service Tax </font></strong></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Seminar fees, exhibition fees, patent application work, international conference fees, octroi service, valuation of property - Whether input service - Adjudicating authority merely taking a 'look' at services and deciding their eligibility without giving any findings is unfortunate - matter remanded: CESTAT</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> issue relates to admissibility of CENVAT credit taken on various services such as seminar fees, exhibition fees, patent application work, international conference fees, octroi service and valuation of property adjacent to the existing factory for setting up another manufacturing unit etc. and the amount of service tax taken is Rs. 47,742/-.</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><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>
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