TIOL-DDT 176 · the untouched capture
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<strong><font color="#9966CC" size="3">TIOL-DDT 176</font><br>
10 08 2005<br>
Wednesday</strong></font></div>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Schedule
of DEPB rates – DGFT amends </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
DGFT has amended the DEPB schedule to make some small changes like,</font></p>
<table width="450" border="1" align="center" cellpadding="2" cellspacing="2">
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<td><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Previous
description</font></strong></p></td>
<td><div align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Amended
description</font></strong></div></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Light Commercial
Vehicle (LCV) of GVW upto 7.5 Mt in CBU/SKD/CKD condition</font></td>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Commercial
Vehicle of GVW upto 7.5 MT in CBU/SKD/CKD condition</font></p></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Graphite Electrode/
Anode/Nipples/Fins/Mix Graphite Products/ Graphite / Finco</font></td>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Graphite
electrode /Carbon electrode/Anodes/Nipples/ Graphite Fine and Mix Graphite
products</font></p></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Insulated
cryogenic tanks for storage and transport of compressed and liquidified
gases</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Cryogenic
Tank for Liquified Gases</font></td>
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<tr>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Medium
Commercial Vehicles GVW above 7.5MT and upto 12MT in CBU/SKD/CKD condition</font></p></td>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Commercial
Vehicles of GVW about 7.5 MT and upto 16.5 MT in CBU/SKD/CKD condition</font></p></td>
</tr>
</table>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
Further the DEPB rate for “Hermetically sealed Compressors for Refrigerators
and Commercial Refrigeration Applications using Eco-friendly gases is reduced
to 4% from 7% and the value cap is increased to Rs.1200/-instead of Rs.1120/-.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2005/dgft05pn037.htm">See
DGFT Public Notice 37/2005, Dated : August 9, 2005</a></strong></font></p>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif">
<strong>OIL Giants, BPCL, HPCL, IBP to be sick by next year</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>India’s
oil giants to approach the BIFR!</strong> Sounds strange and terrifying, especially
if BIFR stands for <strong>Board for Industrial Funeral Rites</strong>. It is
very rarely that a BIFR company comes back to life. Bharat Petroleum Corporation,
Hindustan Petroleum Corporation and IBP will turn financially sick by next year
as losses arising from freeze on prices are set to erode their net worth, according
to Oil Ministry estimates.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
IBP, a subsidiary of Indian Oil Corp, will be the first company to turn sick
by September 2005, followed by BPCL which will take just another year to go
to BIFR while HPCL would be sick in less than two years. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">IOCL
will be sick in three years if petrol, diesel, LPG and kerosene prices are not
changed in line with the spurt in international oil prices</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">IOCL,
BPCL and HPCL reported losses in the first quarter of this year. {"<a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=2368">please
see our Ice Cubes</a>"}</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
And IBP, the major oil retailer is all set to lose its net worth in a couple
of months, which will force it to the steps of the BIFR. It is really sickening
to know that our oil Sheiks are sick.</font></p>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif">
<strong>Advance to Govt. Servants- Compendium of instructions issued</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
The Government has recently issued a consolidated compilation of instructions
on advances to Government servants. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
<strong>Fan advance:-</strong> An advance under rules in this section may be
granted to a Government servant who is living in a house which is provided with
electricity and has a plug point and who does not already have a fan in the
house.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
Will some officer go to the Government servant’s house to verify whether
there is power connection and a plug point and there is no fan in the house?
– For an advance of a thousand rupees!</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
<strong>Car Advance:</strong> To be eligible for a car advance you should have
a salary of Rs. 15750/- and the advance given is Rs. 1,80,000/- for which you
cannot get a car. Even to get an advance for buying a computer you should have
the same salary, but the advance for purchase of a personal computer is Rs.
80,000. There is no PC costing Rs. 80,000/- and today you don’t need to
own a car to afford or own a PC. But it will take a little time for the Government
to realize that a Car and Computer are not in the same price bracket. Any way
the compilation is a useful guide to the government servants who apply for various
advances and the officers who sanction them. <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?filename=gfr2005.htm&subCatDisp_Id=219">Click
here for the full text of the compendium</a>. </font></p>
<p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Until
tomorrow with more DDT<br>
Have a nice day.<br>
<br>
Mail your comments to <a href="mailto:vijaywrite@taxindiaonline.com">vijaywrite@taxindiaonline.com</a></strong></font></p>
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