TIOL-DDT 2090 · 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 size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=17063"><img src="http://www.taxindiaonline.com/RC2/image/stories/limca_book2013.jpg" alt="DDT in Limca Book of Records" width="175" height="120" hspace="5" border="0" align="right"></a></font></strong></font></strong></font></strong></font></strong></font><font color="#663399" size="3">TIOL-DDT 2090 </font><br>
23.04.2013 <br>
Tuesday </strong></font></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Issuance of TDS certificate </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>SECTION</strong> 203 of the Income-tax Act 1961 read with the Rule 31 of the Income-tax Rules 1962 stipulates furnishing of certificate of tax deduction at source (TDS) by the deductor to the deductee specifying therein the prescribed particulars such as amount of TDS, valid permanent account number (PAN) of the deductee, tax deduction and collection account number (TAN) of the deductor, etc. The relevant form for such TDS certificate is <em>Form No. 16 in case of deduction under section 192 and Form No. 16A for deduction under any other provision of Chapter XVII-B </em>of the Act. TDS certificate in Form No. 16 is to be issued annually whereas TDS certificate in Form No. 16A is to be issued quarterly. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">With a view to streamline the TDS procedures, including proper administration of the Act, the Board had issued Circular No. 03/2011 dated 13.05.2011 and Circular No. 01/2012 dated 09.04.2012 making it mandatory for all deductors to issue TDS certificate in Form No. 16A after generating and downloading the same from "TDS Reconciliation Analysis and Correction Enabling System" or <strong>(<a href="https://www.tdscpc.gov.in">https://www.tdscpc.gov.in</a></strong>) (hereinafter called TRACES Portal), previously called TIN web-site. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">In exercise of powers under section 119 of the Act, the Board has now decided as following:- </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2.1 ISSUE OF PART A OF FORM NO. 16 FOR DEDUCTION OF TAX AT SOURCE MADE ON OR AFTER 01.04.2012: </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">All deductors (including Government deductors who deposit TDS in the Central Government Account through book entry) shall issue the Part A of Form No. 16, by generating and subsequently downloading through TRACES Portal, in respect of all sums deducted on or after the 1st day of April, 2012 under the provisions of section 192 of Chapter XVII-B. <u><strong>Part A of Form No 16 shall have a unique TDS certificate number</strong></u>. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2.2 AUTHENTICATION OF TDS CERTIFICATE IN FORM NO. 16: </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The deductor, issuing the Part A of Form No. 16 by downloading it from the TRACES Portal, shall, before issuing to the deductee authenticate the correctness of contents mentioned therein and verify the same either by using manual signature or by using digital signature in accordance with sub-rule (6) of Rule 31. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2.3 In other words, Part A of Form No. 16 shall be issued by all the deductors, only by generating it through TRACES Portal and after duly authenticating and verifying it. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2.4 <em>'Part B (Annexure)'</em> of Form No. 16 <u>shall be prepared by the deductor manually</u> and issued to the deductee after due authentication and verification alongwith the Part A of the Form No. 16 stated above. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2.5 Sub rule (3) of rule 31of the Rules sets the time limit for issuance of Form 16 by the deductor to the employee. Currently, Form 16 should be issued by 31 st May of the financial Year immediately following the financial year in which income was paid and tax deducted. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3.1 The Director General of Income-tax (Systems) <u><strong>shall specify the procedure, formats and standards</strong></u> for the purpose of download of Part A of Form No. 16 from the TRACES Portal and shall be responsible for the day-to-day administration in relation to the procedure, formats and standards for download of Part A of Form No. 16 in electronic form. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3.2 It is further clarified that Part A of Form No. 16 issued by the deductors in accordance with this circular and as per the procedure, formats and standards specified by the Director General of Income-tax (Systems) and <u>containing Unique Identification Number shall only be treated as a valid compliance</u> to the issue of Part A of Form No. 16 for the purpose of section 203 of the Act read with rule 31 of the Rules. </font></p>
<p align="justify"><strong><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">DDT hopes that the procedure, formats and standards are specified quickly as there is not much time left to meet the deadline of May, 31st . Else we may have a situation similar to that prevailing for the ST-3 return for Service Tax. </font></strong></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=36&filename=notification/cbdt/2013/it13cir04.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBDT Circular 4/2013, Dated: April 17, 2013</font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">ADD on Barium Carbonate - It is Guangzhou Chemicals Imp. & Exp. Co., Ltd. & not Guangzhou Chemicals Import and Export Corporation </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> Central Government, on the basis of the findings of the designated authority, had imposed on the goods, the description of which is specified in column (3) of the Table below, falling under subheading of the First Schedule to the said Customs Tariff Act as specified in the corresponding entry in column (2), originating in the country specified in the corresponding entry in column (4), and exported from the country specified in the corresponding entry in column (5) and produced by the producer specified in the corresponding entry in column (6) and </font><font size="2" face="Verdana, Arial, Helvetica, sans-serif" style="background-color:#FFFF00" span="span"><u>exported by the exporter specified in the corresponding entry in column (7)</u>,</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> and imported into India, <strong>an anti-dumping duty</strong> at the rate equal to the amount indicated in the corresponding entry in column (8), in the currency as specified in the corresponding entry in column (10) and per unit of measurement as specified in the corresponding entry in column (9) of the said Table. </font></p>
<p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">TABLE </font></strong></p>
<table width="90%" border="1" align="center" cellpadding="3" cellspacing="0">
<tr>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">S.No. </font></strong></p></td>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Subheading </font></strong></p></td>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Description <br>
of goods </font></strong></p></td>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Country <br>
of origin </font></strong></p></td>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Country <br>
of <br>
exports </font></strong></p></td>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Producer </font></strong></p></td>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Exporter </font></strong></p></td>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Duty <br>
amount </font></strong></p></td>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Unit </font></strong></p></td>
<td valign="top"><p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Currency </font></strong></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(1) </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(2) </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(3) </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(4) </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(5) </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(6) </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(7) </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(8) </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(9) </font></strong></p></td>
<td valign="top"><p align="center"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(10) </font></strong></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">28366000 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Barium <br>
Carbonate </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">People's <br>
Republic <br>
of China </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">People's <br>
Republic <br>
of China </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif" style="background-color:" span="span"> M/s China Haohua Chemical Industry Group, Tianzhu Chemical Industry Co. Ltd. (Tianzhu) </font></p> </td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif" style="background-color:#00FFFF" span="span"> <strong>M/s Guangzhou Chemicals Import & export Corporation </strong></font></p>
</td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">102.19 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">MT </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">US <br>
Dollar </font></p></td>
</tr>
</table>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The above is an extract from the notification 6/2011-Cus dated 7th February, 2011 imposing anti-dumping duty on Barium Carbonate. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now, a notification has been issued on 18th April, 2013 mentioning that against S. No. 5 for the existing entries in column (7), the entries "<em>M/s Guangzhou Chemicals Import and Export Co. Ltd, People's Republic of China</em>" shall be substituted. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">One would be curious to know why this amendment after two years. Has the exporter referred earlier changed the name of his company? We googled and found that the company with the name "M/s Guangzhou Chemicals Import and Export Co. Ltd," exists in the People's Republic of China since the year 1976, has its website, <a href="http://www.gzchem.com"><strong>www.gzchem.com</strong> </a>but apparently there is no company by the name <strong>M/s Guangzhou Chemicals Import & Export Corporation</strong> and this name must probably be the name by which the company in question is colloquially referred to. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">But then, shouldn't the notification imposing Anti-dumping duty be specific when it comes to mentioning the name of the exporter? Of course, yes. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">And this error was noticed by the Designated Authority and he had issued an amendment notification on 28th February, 2013 to his notification 14/18/2009-DGAD dated 10th December, 2010. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The CBEC has now made a similar correction.</font></p>
<p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#FF0000" size="2">Now, will this notification operate retrospectively? </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=337&filename=notification/custom/2013/ctariffadd13_007.htm" target="_blank"><strong>Notification 7/2013-Cus (ADD), dated 18th April, 2013</strong></a></font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/pdfdocs/wnew/adfin_Amendment_Barium_Carbonate_ChinaPR.pdf" target="_blank"><strong>Notification dated 28 th February, 2013 by Designated authority</strong></a></font></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Anti-dumping duty on Soda Ash </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>ANTI-DUMPING</strong> duty has been imposed on Soda Ash falling under sub-heading 283620 of the First Schedule to the Customs Tariff Act, 1975 originating in, or exported from, Russia and Turkey and imported into India and this would be effective for a period of five years. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=337&filename=notification/custom/2013/ctariffadd13_008.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification 8/2013-Cus (ADD), dated 18th April, 2013</font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Increasing accuracy of data capturing by DGCI&S</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> DGFT informs that various items have been added from time to time under Appendix 37A i.e. Vishesh Krishi and Gram Udyog Yojna (VKGUY) and Appendix 37D i.e. Focus Product Scheme (FPS) and Market Linked Focus Product Scheme (MLFPS) in the Hand Book of Procedures Vol -I. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">However, the ITC (HS) codes mentioned against few items in the Appendices do not match the description against respective ITC (HS) codes in the ITC (HS) classification of export and import item book. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">An <em><strong>effort</strong></em> has, therefore, been made to align the items description in the Appendices 37 A & 37 D with ITC (HS) classification of export and import items. Accordingly, draft Appendix 37 A (VKGUY) and Appendix 37 D (FPS and MLFPS) have been prepared after alignment. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The DGFT further informs that before notifying the above appendices, it has been decided to seek views of all stake holders on the draft Appendices about correctness of the ITC (HS) code and description of item.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">These Draft Appendices are available on the website of DGFT <a href="http://www.dgft.gov.in">www.dgft.gov.in </a>up to 17.05.2013 and all stakeholders are requested/ <em><strong>encouraged</strong></em> to give feedback/suggestion on the above draft preferably through e-mail <em><strong>up to 24.00 hrs</strong></em> on 17.05.2013. </font></p>
<p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">DDT feels that the stakeholders have been reasonably encouraged to respond. </font></p>
<p><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=329&filename=notification/dgft/2013/dgft_trade_notice_01_2013.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Trade Notice 01/2013, Dated: April 18, 2013 Draft Appendix 37 A , 37D( Table1) , 37D(Table2)</font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">FTP - More Changes </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#660033">NO Import of Capital Goods for Power Generation</font></strong><font color="#660033">:</font> <em>Authorization under EPCG Scheme shall not be issued for import of any Capital Goods (including Captive plants and Power Generator Sets of any kind) for </em></font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><em>i. Export of electrical energy (power) </em></font></p>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">ii. Supply of electrical energy (power) under deemed exports </font></em></p>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iii. Use of power (energy) in their own unit, and </font></em></p>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">iv.Supply/export of electricity transmission services. </font></em></p>
</blockquote>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2013/dgft13not007.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Notification No. 7/(RE-2013)/2009-2014, Dated: April 18, 2013 </font></strong></a></p>
<p align="justify"><strong><font color="#660033" size="2" face="Verdana, Arial, Helvetica, sans-serif">Grievance Redressal - Personal Hearing by DGFT:</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"></font></strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> As a last resort to redress grievances of Importers/Exporters, DGFT may provide an opportunity for Personal Hearing (PH). For such PH, a specific request has to be made to DG. The existing grievance redressal mechanism stands revised. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2013/dgft13not008.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Notification No. 8/(RE-2013)/2009-2014, Dated: April 22, 2013 </font></strong></a></p>
<p align="justify"><strong><font color="#660033" size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment in Chapter 29 and Chapter 38 of ITC(HS), 2012 Schedule 1 (Import Policy).</font></strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">: Import of items containing Ozone Depleting Substances (ODS) has been restricted and non-ODS items have been made free. A revised list of countries which are parties to the Montreal Protocol under Appendix IV to Schedule 1 is notified. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2013/dgft13not009.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Notification No. 9/(RE-2013)/2009-2014, Dated: April 22, 2013 </font></strong></a></p>
<p align="justify"><strong><font color="#660033" size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment in Policy Condition 1 to Chapter 40 of ITC(HS), 2012</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"></font></strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">. At present, the bracketed portion at the end of Policy Condition 1 appended to Chapter 40 of ITC (HS) 2012, Schedule 1 (Import Policy) reads as under: </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">"[This policy condition applies to EXIM codes 4012 11 00, 4012 12 00, 4012 13 00, 4012 19 10, 4012 19 20, 4012 20 10, and 4012 20 90]." </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The applicability of Policy Condition already finds a mention against the relevant 8 digit codes. Hence, the portion mentioned in the bracketed portion is not required.The bracketed portion at the end of Policy Condition 1 appended to Chapter 40 of ITC (HS) 2012, Schedule 1 (Import Policy) is now deleted. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2013/dgft13not010.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Notification No. 10/(RE-2013)/2009-2014, Dated: April 22, 2013 </font></strong></a></p>
<p align="justify"><strong><font color="#660033" size="2" face="Verdana, Arial, Helvetica, sans-serif">Amendment in the Import Policy of Fish Body Oil (Refined)</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"></font></strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">: The Quality Parameter (iv)-Eicosapentaenoic Acid EPA + Docosaphexaenoic Acid DHA of Fish Body Oil (Refined) under Exim Codes 1504 20 10 and 1504 20 20 as prescribed in Policy Condition 5 at the end of Chapter 15 of ITC (HS) 2012, Schedule 1 (Import Policy) is revised from the present '5-15% by weight' to 'Not less than 5% by weight' without any upper limit. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2013/dgft13not011.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Notification No. 11/(RE-2013)/2009-2014, Dated: April 22, 2013 </font></strong></a></p>
<p align="justify"><strong><font color="#660033" size="2" face="Verdana, Arial, Helvetica, sans-serif">Refund / revalidation of DEPBs/Reward Scrips for re-credit of 4% CVD (SAD) - Extended again</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"></font></strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">: DGFT has amended Paragraph 2.13.2A of the Handbook of Procedures (Vol.1), 2009-14. The exporters will now be able to utilize 4% re-credited SAD till 30.09.2013. No further endorsement is required from RA for revalidation. No further extension would be considered. </font></p>
<p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Please see <a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=14668" target="_blank">DDT 1826 - 29 03 2012</a> and <a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=14674" target="_blank">DDT 1827 - 30 03 2012 </a></font></strong></p>
<p><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2013/dgft13pn006.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Public Notice No. 06 /(RE-2013)/2009-2014, Dated: April 18, 2013 </font></strong></a></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Income Tax - MAT on SEZs - No Reconsideration </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> provisions of Minimum Alternate Tax (MAT) have been made applicable to Special Economic Zone (SEZ) Developers and Units with effect from 1st April, 2012. The imposition of MAT on SEZs has brought the book profits of SEZ units and developers under the ambit of Sec 115JB of the I-T Act, 1961.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Commerce Minister Anand Sharma informed the Lok Sabha yesterday that the proposal for review of imposition of Minimum Alternate Tax (MAT) was taken up by the Government and there has been no decision to reconsider the same at present. </font></p>
<p align="center"><strong><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif">Manufacture of export goods - Notification 12/2012-Cus amended </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>IMPORT</strong> of goods by a manufacturer registered with Export Council(s) for use in the manufacture of handloom/cotton/manmade made ups & sports goods for export - list of eligible items expanded. </font></p>
<p><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2013/ctariff13_021.htm" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification 21/2013-Cus dated 18th April, 2013. </font></strong></a></p>
<p align="center"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><img src="http://www.taxindiaonline.com/RC2/image/stories/Water_Injection.jpg" alt="Legal Corner Icon" width="485" height="428" hspace="5" border="0" align="center"></strong></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
</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><strong><font color="#663399" 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">Service Tax</font></strong></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">A building which has already been completed and put to use does not need any completion or finishing services - Pre-deposit waived and Stay granted: CESTAT </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE </strong>Carpenters are providing services under the category of 'Commercial or Industrial Construction Services'. They undertake interior contract work such as paneling, tiling, painting, etc. and claim that these are repair, alteration, renovation or restoration services in relation to a building or civil structure as mentioned in clause (d) of the category. They discharge service tax on the above activity after availing an abatement of 67% on the gross value of the taxable value of the service rendered, under Notification NO. 1/2006-ST dated 01/03/2006. The department was of the view that the appellant is not eligible for the said abatement for the reason that the activity undertaken by the appellant relates to completion and finishing services in respect of buildings or civil structure and falls in clause (c) of the definition of 'Commercial or Industrial Construction Services' and which is excluded from the scope of the said Notification. </font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">Income Tax </font></strong></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Whether when assessee originally a sub-contractor, but subsequently becomes direct party to agreement in own right, responsible for work done and dealing with Govt on behalf of developer, cannot claim benefit of deduction u/s 80IA, merely because they have not developed entire project - NO: ITAT </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE </strong>assessee has undertaken the work on Back to Back Agreement concept under sub contract from Patel Engineering Company Limited (PEC) vide Sub-Contract Agreement for construction of Tunnel which supplies the water form River Koyna and makes it available to Power House. The issue before the Bench is - Whether when the assessee originally a sub-contractor, but subsequently becomes a direct party to the main agreement in its own right, directly responsible for the work done and dealing with the Government on behalf of the developer, cannot claim the benefit of deduction u/s 80IA, merely because they have not developed the entire project. And the answer goes in favour of the assessee. </font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">Customs </font></strong></p>
<p align="justify"><strong><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Valuation - Since a replicated CD contains artistic/intellectual inputs, cost of the same has to be considered while charging Customs duty. Revenue appeal allowed: CESTAT </font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> respondent is engaged in the business of importing and selling of DVDs. They entered into a licensing agreement with Buena Vista Home Entertainment Inc (the Licensor in short) under which the respondent acquired license/right to import and sell/distribute DVDs in respect of which the licensor held the copy right. Under the said agreement, the respondent was given the right to import from "Replicators" namely, U-Tech Medi Corporation of Taiwan and such other Replicators as the licensor may from time to time designate, DVDs for the purpose of distribution/re-sale in India.</font></p>
<p align="justify"><strong><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif">Tomorrow is a Holiday - Mahavir Jayanti </font></strong></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until Thursday 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>
</body>
</html>