TIOL-DDT 197 · the untouched capture
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<html> <head> <title>Untitled Document</title> <meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1"> </head> <body bgcolor="#FFFFFF"> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399" size="3">TIOL-DDT 197</font><br> 08 09 2005<br> Thursday</b></font></p> <p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b>Classification of CPU Cooler Fan with Heat sink – Board revises stand</b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> Board had in Circular No. 17/2004-Cus., dated 20th February 2004 communicated that Board had accepted the recommendations of the Chief Commissioners’ Tariff conference that <b>CPU Cooler Fan with Heat sink </b>would be appropriately classified under Tariff item 8414 59 10.<br> <br> But the HSN Explanatory notes to heading 8414 read as:-<br> <br> <b>This heading excludes fans fitted with elements additional to their motors or housing if such elements give them the characteristics of more complex machines of other headings</b><br> <br> Based on this, the Tribunal held that ‘CPU cooler fan with heat sink’ are appropriately assessable under heading 8473.30 of the Customs tariff. <br> <br> In a rare and welcome gesture of accepting fact and judicial opinion, Board has reversed its earlier opinion and now communicates that CPU Cooler Fan with Heat sink is appropriately classifiable under sub-heading 8473.30 instead of Tariff item 8414 59 10. And the Circular No. 17/2004 is withdrawn.<br> <br> Incidentally the Tariff conference of Chief Commissioners is an elaborate affair where the highest officers of the department put their clever heads together and decide on knotty problems. How is it that such a great conference failed to take note of the elementary principle enunciated in the HSN explanation? May be they should allow advocates and assessees to present the case before these conferences so that the conference has access to the other side’s opinion in addition to the notes prepared by the departmental officers. <br> <br> In any case Board’s gesture in showing respect to the HSN and the Tribunal is laudable and let us hope this will not be an isolated incident but will be a recurring feature. <br> <br> <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=25&filename=notification/custom/2005/cuscir05_036.htm">CIRCULAR NO. 36/2005-Cus, Dated: September 2, 2005 </a></font></p> <p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Import of Boric Acid – restrictions</b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> Board has clarified that import of Boric Acid for non insecticidal use may be allowed only on the basis of import permit issued by Central Insecticide Board & Registration Committee (CIB&RC) under Ministry of Agriculture on the basis of recommendation of the nodal Administrative Ministry. Circular No. 61/2004 is modified accordingly.<br> <br> <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=25&filename=notification/custom/2005/cuscir05_037.htm">CIRCULAR NO. 37/2005-Cus., Dated: September 6, 2005</a></font></p> <p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b>Vanishing Companies identified and prosecuted</b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> Prosecutions have been initiated against 107 fraudulent companies and their promoters/directors under the relevant provisions of the Companies Act, 1956. As on date, 114 companies have been identified as vanishing companies. Originally 229 companies were listed in the vanishing category. <br> <br> Government has launched prosecutions against 94 companies for non-filing of statutory returns. The cases are pending before different High Courts for decision. <br> <br> Surely there must be Central Excise arrears pending against most of these companies.</font></p> <p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b>we must walk on two legs - PM at the India-EU Business Summit </b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">• I have always believed with Lord Keynes that, “in the final analysis businessmen are the custodians of the possibility of survival of human civilization”<br> <br> • If business leaders think right, I think our societies and our polities can look to the future with hope and confidence. <br> <br> • We live in a world of constant change and the success belongs to those who are adept at mastering processes of change <br> <br> • Do not be too fearful of change. Learn to live with change, though of course governments have the responsibility to smoothen the processes of change, smoothen the transitional pain that may at some times accompany the processes of change. <br> <br> • The terrorist attacks on July 7 this year in London are an unfortunate affirmation of our view that terrorism, by whatever name, can have no place in a civilized society<br> <br> • One of the aims of terrorism is to cause economic instability all round. <br> <br> • It is now possible, as never before, for us to visualise an India without poverty, without disease and without scourge of extreme deprivation<br> <br> • I am convinced that ‘positive expectations have a way of yielding positive outcomes’. <br> <br> • I have often said that we must walk on two legs – pursuing greater efficiency and simultaneously pursuing greater equity in the working of the economy. <br> <br> • For my generation, Europe was the natural destination for students, scholars, travellers and artists. I believe this is no longer the case. Perhaps, this is understandable, as we in India reach out to new friends in new continents and re-discover our ancient links with other countries of Asia<br> <br> • I believe there is a perception in Indian trade and industry circles that the European market is becoming increasingly difficult to penetrate. <br> <br> • As tariff barriers disintegrate, our industry complains that non-tariff barriers suddenly come up. <br> <br> • India is one of the largest producers of agricultural commodities - fruits, vegetables, poultry and meat products, the famous ‘Basmati’ rice and the equally famous Darjeeling tea – and we have comparative advantage in this sector, apart from in the more modern sectors<br> <br> • I am convinced our destiny and our salvation lies in closer involvement with the evolving global economy<br> <br> • Our centres of higher education and learning have created, fortunately, a vast reservoir of world-class skilled and trained professionals. <br> <br> • And over half our population is below the age of 25 years<br> <br> Shhhhhhhh – left is listening<br> <br> <font color="#FF6666"><b>Until tomorrow with more DDT</b></font></font></p> <p align="justify"><font color="#FF6666"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Have a nice day. <br> <br> Mail your comments to</font></b></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <a href="vijaywrite@taxindiaonline.com">vijaywrite@taxindiaonline.com </a></font></p> </body> </html>