TIOL-DDT 214 · the untouched capture
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<strong><font color="#0000CC">TIOL-DDT 214</font><br>
<font size="2">03 10 2005<br>
Monday </font></strong></font> </div>
<p align="center"><strong><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif">Interest
on re-export of warehoused goods – Board accepts Supreme Court judgement
after nine years.</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Way
back in 1996, the Supreme Court in the PRATIBHA PROCESSORS case held that interest
is an accessory of the Principal and if the Principal was not payable, so was
interest. But Board had in letter F.No.475/82/92-LC, dated 27.12.1993 clarified
that interest is payable for clearances from the warehouses even if the duty
was not payable. Now the Board has a doubt whether its circular has to be followed
or the Supreme Court order has to be followed. What is to be done in such cases?
Even the Supreme Court is not sure as our case in today’s breaking news
would show.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Any
way thankfully now the Government has decided to adopt the ratio of the Supreme
Court judgement. Thank you Board! - for the respect shown to the highest court
– though after nine years. It’s never too late to do good things.
And to respect the Supreme Court. Incidentally is the Board Circular retrospective?
And does any body have a copy of the Board letter?. My search was futile. Why
can’t the Board make available a copy of the letter issued twelve years
ago and which was not published anywhere? </font></p>
<p align="left"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=25&filename=notification/custom/2005/cuscir05_038.htm">CIRCULAR
NO 38/2005-Cus., Dated: September 28, 2005</a></strong></font></p>
<p align="center"><strong><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif">LNG
for Dabhol power project</font></strong></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Government
has exempted Liquefied Natural Gas and Liquefied Natural Gas (LNG) facility
project of Ratnagiri Gas and Power Private Limited for their power project at
Dabhol. </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=23&filename=notification/custom/2005/ctariff05_088.htm"><strong>Notification
No.88 / 2005-Customs dated the 30th September, 2005</strong></a></font></p>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Tariff
Values for palm oil and brass scrap increased.</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
existing and the new rates are as follows: </font></p>
<table width="450" border="1" align="center" cellpadding="3" cellspacing="0">
<tr>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">S.No.</font></p></td>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Chapter
heading or sub-heading</font></p></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Description
of goods</font></td>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff
value<br>
US$<br>
(Per Metric Tonne)</font></p></td>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">New
tariff values</font></p></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(1)</font></td>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(2)</font></p></td>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(3)</font></p></td>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(4)</font></p></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5</font></td>
</tr>
<tr>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1</font></p></td>
<td><p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
10 00</font></p></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Palm
Oil</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">397</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">402</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 10</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBD Palm Oil</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">418</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">420</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 90</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Others –
Palm Oil</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">408</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">411</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 10 00</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Palmolein</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">414</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">418</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 20</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBD Palmolein</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">427</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">430</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 90</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Others –
Palmolein</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">421</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">424</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1507 10 00</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Soyabean
Oil</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">506</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">508</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7404 00 22</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Brass Scrap<br>
(all grades)</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1980</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1981</font></td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
</table>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2005/cnt05_089.htm">NOTIFICATION
NO. 89 /2005-Cus (N.T.) Dated: September 30, 2005</a></strong> </font></p>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>CBI
- the most dreaded organisation.</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">"The
CBI is the most dreaded organisation in the political, criminal and official
circles of India because of its independent nature of work. Persons with track
records of honesty, integrity and sincerity are inducted into the services of
the CBI and none interferes in its activities. The country needs an organisation
like the CBI that bothers little about the political or social profile of a
corrupt person or a criminal. The CBI enjoys that much of independence"
</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This
is how the Bangla Desh Financial Express reported about CBI on its raids. </font></p>
<p align="justify"><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Until
tomorrow with more DDT</strong></font></p>
<p align="justify"><strong><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have
a nice day. </font></strong></p>
<p align="justify"><strong><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Mail
your comments to <a href="mailto:vijaywrite@taxindiaonline.com">vijaywrite@taxindiaonline.com</a></font></strong></p>
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