TIOL-DDT 2375 · the untouched capture
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<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399"><s><strong><strong><strong><strong><strong><strong><font color="#663399"><s><strong><strong><strong><strong><strong><font color="#663399"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=20079"><img src="http://www.taxindiaonline.com/RC2/image/stories/limca_book2014_1.jpg" alt="DDT in Limca Book of Records - Third Time in a row" width="250" height="123" hspace="5" border="0" align="right"></a></font></strong></strong></strong></strong></strong></s></font></strong></strong></strong></strong></strong></strong></s>TIOL-DDT 2375</font><br>
16.06.2014<br>
Monday</strong></font></p>
<p align="center"><font size="2"><strong><font color="#006600" face="Verdana, Arial, Helvetica, sans-serif">Companies Act - No Dividend if previous Losses not set off</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>GOVERNMENT</strong> has amended the Companies (Declaration and Payment of Dividend) Rules 2014 to substitute Rule 3(5) to the effect: </font></p>
<blockquote>
<p align="justify"><font size="2"><em><font face="Verdana, Arial, Helvetica, sans-serif">No company shall declare dividend unless carried over previous losses and depreciation not provided in previous year or years are set off against profit of the company of the current year. </font></em></font></p>
</blockquote>
<p align="justify"><font size="2"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=wnew/mca_not_14_08.htm" target="_blank"><font face="Verdana, Arial, Helvetica, sans-serif"><strong>Ministry of Corporate Affairs Notification, Dated: June 12, 2014</strong></font></a></font></p>
<p align="center"><font size="2"><strong><font color="#006600" face="Verdana, Arial, Helvetica, sans-serif">Customs Broker Licensing Regulations 2013 - CBEC Clarification </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>REPRESENTATIONS</strong> have been received in the Board regarding difficulties being faced on account of divergent practices at the time of renewal of Customs Brokers licenses under CBLR, 2013. It is represented that there is a need for clarity in regard to amount of security/bank guarantee that is required for the renewal of a license since some formations are asking for the enhanced security under CBLR, 2013. It is also contended that the documentation requirements at the time of renewal of license varies from one Customs House to another.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Regulation 8 of CBLR, 2013 mandates that before granting the licence under regulation 7, the Commissioner of Customs shall require the successful applicant to enter into the bond and where specified a surety bond for due observance of the said Regulations and furnish a security in the form of bank guarantee, a postal security or National Saving Certificate (NSC) in the name of Commissioner of Customs for an amount of Rs. 5 lakhs for carrying out the business as Customs Broker. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The amount of security has been enhanced from Rs. 75,000/- under Custom House Agents Licensing Regulations (CHALR), 2004 to Rs. 5 lakh in CBLR 2013. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The matter of what security amount is to be furnished at the time of renewal of a license had been examined earlier in 2004 when the security amount had been similarly enhanced in comparison to CHALR, 1984. Board had issued <i>Circular No.42/2004-Cus</i> dated 10.06.2004 clarifying that at the time of renewal of licenses of Customs Brokers license, enhanced security will not apply and the same shall apply only to fresh licenses. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Board clarifies that the enhanced security amount would not apply to holders of valid licenses issued under erstwhile regulations i.e. CHALR, 2004 or CHALR, 1984 who seek a renewal. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Documentation required for the renewal of Customs Brokers License:</strong> Board notes that different Customs Houses have prescribed their own requirements. Moreover, some documents appear unnecessary while some are already in possession of the Customs. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Therefore, with the view to ensure uniformity and in the interest of simplification, the Board prescribes the following supporting documents for the renewal of Customs Brokers licenses under CBLR, 2013: </font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(i) Declaration affirming that there is no change in constitution/address of Customs Broker; that there are no time expired/inoperative cards in Forms G/H pending submission to the Department; that accounts are being maintained as per Regulation 16 of CBLR, 2013; that no judicial/quasi-judicial cases are pending against them (if yes, the details and status of each pending case); and that no arrears are payable to the Department. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(ii) Self- attested copy of Customs Broker Licence in Form B. </font></p>
</blockquote>
<div align="justify">
<blockquote><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(iii) List of Photo Identity Card holders in Form F/G/H with card number(s) and validity date(s). </font></blockquote>
</div>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(iv) Self-attested copy of valid membership certificate of Custom Brokers Association (if registered in the Customs station and recognized by Commissioner of Customs). </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(v) Self-attested PAN card copy in the name of Customs Broker (Attested/Notarized), if not given earlier. </font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Let us hope the Commissioners will follow the Board directions. </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=25&filename=notification/custom/2014/cuscir14_008.htm" target="_blank">CBEC Circular No. 08/2014-Customs, Dated: June 13, 2014 </a></strong></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Anti Dumping Duty on homopolymer of vinyl chloride from EU </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> Central Government has imposed definitive anti-dumping duty on Homopolymer of vinyl chloride monomer (suspension grade) [heading 3904] originating in or exported from the European Union & Mexico and imported into India, in order to remove injury to the domestic industry. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The ADD imposed under this notification will be effective for a period of five years from 13.06.2014 unless of course the same is revoked, superseded or amended earlier. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=337&filename=notification/custom/2014/ctariffadd14_026.htm" target="_blank">Notification No. 26/2014-Customs (ADD), Dated: June 13, 2014</a></strong></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Continuation of ADD on import of Homopolymer of vinyl chloride monomer </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">THE Central government had imposed ADD on Homopolymer of vinyl chloride monomer (suspension grade) [heading 3904] originating in or exported from Taiwan, the People's Republic of China, Indonesia, Japan, Korea RP, Malaysia, Thailand and the United States of America (subject countries) vide <i>notification 11/2008-Cus</i> dated 23.01.2008. Before this notification was to expire, the government vide <i>notification 52/2012-Cus (ADD)</i> dated 6.12.2012 extended the imposition till 22/01/2014. This notification was unique in the sense that the amendment was done in the parent notification 11/2008-Cus thus - <em><font color="#FF0000">In the said notification, in paragraph 2, for the words "five years", the words "six years" shall be substituted</font>.</em></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Be that as it may, after 22/01/2014, the notification died a natural death, it seems. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">However, the government had conducted a review of ADD on the import of the subject goods and the designated authority has found that the product under consideration continues to be imported at the dumped prices from the subject countries <em>except Korea RP</em>. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">So, the corollary is that the Central Government seeks to continue imposition of ADD on the subject goods, originating in or exported from subject countries <em><strong>except Korea RP</strong></em>. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The notification in this regard has been issued and would be effective for a period of five years from 13.06.2014 unless of course the same is revoked, superseded or amended earlier. </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=337&filename=notification/custom/2014/ctariffadd14_027.htm" target="_blank">Notification No. 27/2014-Customs (ADD), Dated: June 13, 2014 </a></strong></font></p>
<p align="center"><font size="2"><strong><font color="#006600" face="Verdana, Arial, Helvetica, sans-serif">FTP - Exports to Bhutan - Ban lifted </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>GOVERNMENT</strong> has exempted export of the following items to Bhutan from any export ban: </font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(i) Milk powder</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(ii) Wheat</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(iii) Edible oil</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(iv) Pulses</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(v) Non-basmati rice</font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A goodwill gesture on the occasion of the Prime Minister's visit to Bhutan?</font></p>
<p align="justify"><font size="2"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2013/dgft13not081.htm" target="_blank"><strong><font face="Verdana, Arial, Helvetica, sans-serif">DGFT Notification No. 81 (RE - 2013)/2009-2014, Dated: June 13, 2014 </font></strong></a></font></p>
<p align="center"><font size="2"><strong><font color="#006600" face="Verdana, Arial, Helvetica, sans-serif">Tariff Value of Gold, Silver increased </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> Government has increased the Tariff value of Gold from 408 USD to 411 USD per 10gms and that of Silver from 617 to 632 USD per kilogram with effect from 13.06.2014. The Tariff values of all Oils have been reduced. Tariff value of Brass scrap sees a slight increase. However, the Tariff values of Poppy Seeds refused to budge, but Areca Nuts see a small hike. The Tariff values as on 30.05.2014 and with effect from <strong>13.06.2014</strong> are as under: </font></p>
<table width="90%" border="1" align="center" cellpadding="3" cellspacing="0">
<tr>
<td valign="top" colspan="5"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif" style="background-color:#FFFF00" span="span"><strong>Table 1 </strong></font></p></td>
</tr>
<tr bgcolor="#DDFFDD">
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">S. No. </font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Chapter/ heading/ sub-heading/tariff item </font></strong></font></p></td>
<td valign="top" bgcolor="#DDFFDD"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Description of goods </font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD (Per Metric Tonne) <br>
from 30.05.2014 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD (Per Metric Tonne) <br>
from 13.06.2014 </font></strong></font></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">(1) </font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">(2) </font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">(3) </font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">(5) </font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">(6) </font></strong></font></p></td>
</tr>
<tr bgcolor="#DDFFDD">
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 10 00 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Palm Oil </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">897 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">860 </font></strong></font></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 10 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBD Palm Oil </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">945 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">895 </font></strong></font></p></td>
</tr>
<tr bgcolor="#DDFFDD">
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 90 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Others - Palm Oil </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">921 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">878 </font></strong></font></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 10 00 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Palmolein </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">953 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">903 </font></strong></font></p></td>
</tr>
<tr bgcolor="#DDFFDD">
<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">1511 90 20 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBDPalmolein </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">956 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">906 </font></strong></font></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 90 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Others -Palmolein </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">955 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">905 </font></strong></font></p></td>
</tr>
<tr bgcolor="#DDFFDD">
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1507 10 00 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Soyabean Oil </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">962 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">938 </font></strong></font></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7404 00 22 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Brass Scrap (all grades) </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3890 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">3920 </font></strong></font></p></td>
</tr>
<tr bgcolor="#DDFFDD">
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1207 91 00 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Poppy seeds </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3255 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">3255 </font></strong></font></p></td>
</tr>
<tr>
<td valign="top" colspan="5"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif" style="background-color:#FFFF00" span="span"><strong>Table 2 </strong></font></p></td>
</tr>
<tr bgcolor="#DDFFDD">
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">S. No. </font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Chapter/ heading/ sub-heading/tariff item </font></strong></font></p></td>
<td valign="top"><p><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Description of goods</font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD <br>
from 30.05.2014 </font></strong></font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD <br>
from 13.06.2014 </font></strong></font></p></td>
</tr>
<tr>
<td valign="top"> </td>
<td valign="top"> </td>
<td valign="top"> </td>
<td valign="top"> </td>
<td valign="top"> </td>
</tr>
<tr bgcolor="#DDFFDD">
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1</font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">71 or 98</font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Gold, in any form in respect of which the benefit of entries at serial number 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">408 per 10 grams </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">411 per 10 grams </font></strong></font></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">71 or 98 </font></p></td>
<td valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Silver, in any form in respect of which the benefit of entries at serial number 322 and 324 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">617 per kilogram </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">632 per kilogram </font></strong></font></p></td>
</tr>
<tr>
<td valign="top" colspan="5"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif" style="background-color:#FFFF00" span="span"><strong>Table 3</strong></font></p></td>
</tr>
<tr>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">S. No. </font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Chapter/ heading/ sub-heading/tariff item</font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Description of goods </font></strong></font></p></td>
<td valign="top"><p align="center"><font size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD (Per Metric Tons) <br>
from 30.05.2014 </font></strong></font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD (Per Metric Tons) <br>
from 13.06.2014 </font></strong></font></p></td>
</tr>
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<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">080280 </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Areca nuts </font></p></td>
<td valign="top"><p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1908 </font></p></td>
<td valign="top"><p align="center"><font color="#FF0000" size="2"><strong><font face="Verdana, Arial, Helvetica, sans-serif">1912 </font></strong></font></p></td>
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<p><font size="2"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2014/cnt14_046.htm" target="_blank"><font face="Verdana, Arial, Helvetica, sans-serif"><strong>Notification No. 46/2014-Customs (NT), Dated: June 13, 2014</strong> </font></a></font></p>
<p align="center"><font size="2"><strong><font color="#006600" face="Verdana, Arial, Helvetica, sans-serif">Where do you classify Egg box for Chicken Eggs? </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> Harmonized System Committee (53rd Session - March 2014) of WCO has given the decision that it falls under 3923.10 of the Customs Tariff with the description: </font></p>
<blockquote>
<p align="justify"><font size="2"><em><font face="Verdana, Arial, Helvetica, sans-serif">Egg box for chicken eggs, of plastics. The box has a dimpled form in which each dimple accommodates an individual egg and isolates that egg from eggs in adjacent dimples. This structure helps protect eggs against stresses exerted during transportation and storage by absorbing a lot of shock and limiting the incidents of fracture to the fragile egg shells. It is closed along one edge and open on the other three edges. </font></em></font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Maybe this would be one of the amendments to the Customs Tariff to be proposed in the ensuing Budget.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The WCO has suggested several changes in the Tariff - HSN, which will have to be adopted by the Indian Customs soon. </font></p>
<p align="center"><font size="2"><strong><font color="#006600" face="Verdana, Arial, Helvetica, sans-serif">Customs Harassment? </font></strong></font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- <strong>SINCE</strong> June 2011, he has been detained about 30 times at airports. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- He has been interrogated and had his luggage searched, X-rayed and tested over a total of about 30 hours. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- He has no criminal record and Customs officers have never produced any evidence of wrongdoing. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- Customs officers questioned him about his travels, work, hobbies, life, family, friends, girlfriends and future plans. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- He answered the questions because he believed he would not be able leave the airports if he did not. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- Customs officers deprived him of his liberty, humiliated him, and subjected him to threats, indignity and mental injury. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- Customs officers read his personal diary and mocked him. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- He was accused of lying and having a mental illness. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- Customs officers demanded the password to his laptop, threatening to confiscate it for nine to 12 months if he did not provide it. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- He was threatened with a full cavity search. </font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Claims a frequent flier in a case filed in an Australian Court against the Customs Department seeking damages claiming he is suffering panic disorder, fear and anxiety and sleep deprivation, as well as loss of income. </font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><strong><font color="#006600">Jurispruden</font><font color="#FF6633">tiol</font><font color="#006600"> - Tuesday's cases</font></strong></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"><strong><font color="#663399">Service Tax</font></strong></font></p>
<p align="justify"><font color="#FF6633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>BAS - Merely because particular sub-clause of section 65(19) has not been specifically mentioned in SCN it does not vitiate the SCN or proceedings initiated thereunder: CESTAT </strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE </strong>appellant is registered with the department under the taxable service category of "Steamer Agent Services". The department was of the view that the services rendered by the appellant merited classification under "Business Auxiliary Service" with effect from 1-7-2003 and accordingly issued a SCN on 26th August, 2007 proposing to demand ST of Rs.1,37,36,500/- along with interest & penalties. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The CCE, Thane II upheld the charges and confirmed the ST demand. Penalties and interest also visited the appellant. An amount of Rs.46.64 lakhs paid by the appellant was appropriated towards the ST liability for the period 16-6-2005 to 31-12-2005 along with an interest payment of Rs.2.28 lakhs. </font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Income Tax </strong></font></p>
<p align="justify"><font size="2"><strong><font color="#FF6633" face="Verdana, Arial, Helvetica, sans-serif">Whether when assessee, noted lyricist by profession, has both professional and residential setup in same apartment, sums spent on installation of LIFT can be claimed as revenue expenditure - Only Partly: ITAT </font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> assessee is a lyricist and a well-known film personality. The assessee stated that he operates his profession from the premises 6th and 7th floor, Juhu Sagar Samrat, Co.op Housing Society Limited. The building was an old seven storied building having one lift. Since the lift was old, it used to get out of order very frequently, causing substantial hardship to the persons visiting to the assessee for professional purposes. The society was reluctant to spend money to replace the lift. The assessee spent a sum of Rs. 17,32,436/- for installation of a new lift in the building and claimed the same as society development charges in the Profit & Loss Account. The AO disallowed the same and held that the elevators installed was at the cooperative housing society and an essential part of the building to be treated a capital asset, and, therefore, it cannot be considered as revenue expenditure. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The issues before the Bench are - Whether a lift installed by an assessee in the premises of the society apartment can be claimed as revenue expenditure, considering the person has both professional and residential set up in the same apartment; Whether the entire amount of such expenditure can be allowed as business expenditure when the advantage and facility of the new lift is not restricted exclusively for the professional activity of the assessee, but also enjoyed by assessee as well as family members of the assessee - Whether it is a relevant criterion for the purpose of considering the allowability of expenditure that the lift is also being used by other residents of the buildings and Whether the assessee, who is a lyricist by profession can be said to have derived any capital advantage from such expenditure, although the ownership of the lift vests with the society. And the answers partly favour the assessee. </font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Central Excise </strong></font></p>
<p align="justify"><font size="2"><strong><font color="#FF6633" face="Verdana, Arial, Helvetica, sans-serif">Demand of duty on account of clandestine clearance and under-valuation - Adjudicating authority was not correct in disallowing cross-examination of persons, except cases covered by Section 9D of Central Excise Act, 1944 - Matter remanded: CESTAT</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> appellants are engaged in the manufacture of Ceramic Glazed Mixture known as Frit, falling under Chapter 32 of the Central Excise Tariff Act, 1985. The frit manufactured by the appellant is used as a major raw material for manufacturing Ceramic Glazed Tiles. It is the case of the Revenue that manufacturers of ceramic glazed tiles were engaged in evasion of Central Excise duty. On the basis of the investigations done by DGCEI, proceedings were initiated against the appellants. The DGCEI also conducted parallel investigations against the other frit manufacturers. In one of the search operations conducted by DGCEI on 17.07.2008 on a Ceramic Tile manufacturer, the DGCEI seized incriminating documents along with two computer pen-drives containing incriminating information which according to them contained documentary evidences establishing undervaluation of frit by some frit manufacturers including the present appellants, resulting in demand of duty with penalties. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399">See our Columns Tomorrow for the judgements</font></strong></font></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>
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