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TIOL-DDT 2394 · Friday, 11 July 2014 · story 11 of 11

Budget Notifications At a Glance

By Vijay Kumar

CENTRAL EXCISE - TARIFF

Sl. No.

Notification No. & Date

Subject

1.

No. dated 11th July, 2014

Seeks to amend notification No. 1/2011-CE, dated the 1st March, 2011. Sports gloves and Polyester staple fibre or polyester filament yarn manufactured from plastic scrap or plastic waste including waste polyethylene terephthalate bottles attract CE duty of 2%.

2.

No. dated 11th July, 2014

Seeks to amend notification No. 2/2011-CE, dated the 1st March, 2011 so as to make necessary changes in the specified entries therein. Gloves designed for sports levy of 6% with CENVAT facility

3.

No. dated 11th July, 2014

Seeks to amend notification No. 64/95-CE, dated the 16th March, 1995 so as to provide full exemption from excise duty to goods manufactured by the Indian Offset Partner (hereinafter referred to as IOP) of the contractor to the National Technical Research Organisation, (hereinafter referred to as NTRO);

4.

No. dated 11th July, 2014

Seeks to amend notification No. 108/95-CE, dated the 28th August, 1995 so as to allow transfer/sale of goods procured prior to 1.3.2008 for use in projects financed by the UN or an international organization.

5.

No. dated 11th July, 2014

Seeks to amend notification No. 12/2012-CE, dated the 17th March, 2012 so as to make necessary changes in the specified entries therein.

- Duty increased on Pan Masala from 12% to 16%.
- Duty on branded Motor Spirit reduced from Rs. 7.50 to 2.35 /ltr
- LPG supplied to Non domestic exempted category to attract Nil rate
- Duty reduced on footwear of MRP more than Rs.500
- Machinery used in food processing/poultry/meat processing/parts used in LED lights and fixtures to attract concession duty of 6%
- Some goods used in Solar Photovoltaic cells/ wind operated electric generators to attract NIL rate

6.

No. dated 11th July, 2014

Seeks to exempt from excise duty goods required for the National AIDS Control Programme funded by GFATM

7.

No. dated 11th July, 2014

Seeks to amend notification No. 33/2005-CE, dated the 8th September, 2005 so as to provide for full exemption from excise duty on machinery required for setting up of compressed biogas plant (Bio-CNG).

8.

No. dated 11th July, 2014

Seeks to amend notification No. 15/2010-CE, dated the 27th February, 2010 so as to provide for exemption of excise duty on machineries required for initial setting up of solar energy production projects.

9.

No. dated 11th July, 2014

Seeks to amend Notification No. 42/2008-CE, dated the 1st July, 2008 so as to prescribe new rate of duty to Pan Masala and Gutkha.

10.

No. dated 11th July, 2014

Seeks to amend Notification No. 16/2010-CE, dated the 27th February, 2010 so as to prescribe new rate of duty to unmanufactured tobacco and chewing tobacco.

11.

No. dated 11th July, 2014

Seeks to amend Notification No. 23/2003-CE, dated the 31st March, 2003 so as to avoid double levy of cess on DTA clearances 100% EOUs. Entry 1A and 1B inserted in the notification to exempt Education cess and SHE cess

12.

No. dated 11th July, 2014

Seeks to amend Notification No. 67/1995-CE, dated the 16th March, 1995 so as to exempt intermediate goods manufactured and consumed captively for further manufacture of matches.

13.

No. dated 11th July, 2014

Seeks to rescind Notification No. 03/2010-CE, dated the 22nd June, 2010 so as to increase rate of Clean Energy Cess

CENTRAL EXCISE - NON TARIFF

Sl. No.

Notification No. & Date

Subject

1.

No. dated 11th July, 2014

Seeks to amend Notification No. 49/2008-CE (NT), dated 24th December, 2008.ChHd 842190 included in entry Sl.No 140 of the Notification.

2.

No. dated 11th July, 2014

Seeks to specify class of persons for the purposes of section 23A of the Central Excise Act, 1944. Specifies ‘resident private limited company' as class of person for the purpose of this section.. - Advance Ruling

3.

No. dated 11th July, 2014

Seeks to amend Central Excise Rules, 2002.
- E payment mandatory for all assesses
- Rule 8(3A) amended to impose 1% penalty per month on the defaulted amount

4.

No Dt. 11.07.2014

Seeks to amend Central Excise Valuation Rules, 2000 Proviso introduced in Rule 6 of Valuation Rules-to deem as transaction value the price less than manufacturing cost.

5.

No. dated 11th July, 2014

Seeks to amend CENVAT Credit Rules, 2004
-Place of Removal defined in CCR
-service recipient- liable to pay service tax wholly or partly- is allowed to take CENVAT credit input service only after payment of service tax

6.

No. dated 11th July, 2014

Seeks to amend Pan Masala Packing Machines (Capacity Determination and Collection of Duty) Rules, 2008

CUSTOMS- TARIFF

Sl. No.

Notification No. & Date

Subject

1.

No. dated 11th July, 2014

Seeks to amend notification No. 24/2005-Customs dated 1st March 2005 so as to levy BCD @ 10% on specified telecommunication products not covered under the ITA.

2.

No. dated 11th July, 2014

Seeks to amend notification No. 12/2012-Customs, dated the 17th March, 2012 so as to make necessary changes in the specified entries therein.

3.

No. dated 11th July, 2014

Seeks to amend notification No. 81/2005-Customs, dated the 08th September, 2005 so as to reduce BCD to 5% on machinery required for setting up of compressed bio-gas (Bio-CNG) projects.

4.

No. dated 11th July, 2014

Seeks to amend notification No. 01/2011-Customs, dated the 06th January, 2011 so as to reduce BCD to 5% and CVD to Nil on machinery for initial setting up of solar energy production projects.

5.

No. dated 11th July, 2014

Seeks to amend notification No. 27/2011 Customs, dated the 01st March, 2011 so as to increase the export duty on Bauxite from 10% to 20%.

6.

No. dated 11th July, 2014

Seeks to amend notification No. 09/2012 Customs, dated the 09th March, 2012 so as to increase the variation levels in respect of re-import of cut and polished diamonds.

7.

No. dated 11th July, 2014

Seeks to amend notification No. 10/2008 Customs, dated the 15th January, 2008 so as to delete tariff item 3903 19 90 in respect of CECA.

8.

No. dated 11th July, 2014

Seeks to amend notification No. 13/2012 Customs, dated the 17th March, 2012 so as to provide for levy of education cess on CVD portion of customs duty leviable on imported IT products.

9.

No. dated 11th July, 2014

Seeks to amend notification No. 14/2012 Customs, dated the 17th March, 2012 so as to provide for levy of secondary and higher education cess on CVD portion of customs duty leviable on imported IT products.

10.

No. dated 11th July, 2014

Seeks to amend notification No. 39/96-Customs, dated the 23rd July, 1996 so as to omit the words ‘Portable X-ray machine/system' and to provide exemption for goods imported by NTRO.

11.

No. dated 11th July, 2014

Seeks to amend notification No. 21/2012 Customs, dated the 17th March, 2012 so as to make necessary changes in the specified entries therein.

12.

No. dated 11th July, 2014

Seeks to amend notification No. 84/97-Customs, dated the 11th November, 1997 so as to allow transfer/sale/re-export goods imported prior to 1.3.2008 for use in projects financed by the UN or an international organization.

13.

No. dated 11th July, 2014

Seeks to exempt from customs duty goods required for the National AIDS Control Programme funded by GFATM.

14.

No. dated 11th July, 2014

Seeks to amend notification No. 51/96-Customs, dated the 23rd July, 1996 so as to provide flexibility in securing registration from DSIR to avail duty benefit for setting up of R&D units.

15

No. dated 11th July, 2014

Seeks to amend notification No. 230/86-Customs, dated the 3rd April, 1986 so as to notify concerned State Governments as sponsoring authority for Metro Rail Projects covered under the Project Import Regulations, 1986.

CUSTOMS-NON TARIFF

Sl. No.

Notification No. & Date

Subject

1.

No. dated 11th July, 2014

Seeks to amend notification No. 30/98-Customs (NT) dated 2nd June 1998 so as to amend Baggage Rules, 1998. Duty free allowance enhanced to Rs., 45,000

2.

No. dated 11th July, 2014

Seeks to specify class of persons for the purposes of section 28E of the Customs Act, 1962. Advance Ruling

SERVICE TAX NOTIFICATIONS

Sl. No.

Notification No. & Date

Subject

1.

No. dated 11th July, 2014

Seeks to amend notification No. 25/2012- Service Tax, dated the 20th June, 2012 - so as to amend certain existing entries granting exemption on specified services and inserting new entries for granting exemption from service tax on specified services -exempts services by an educational institution to its students, faculty and staff
- Ashrams/ Dharmsalas brought on par with hotels, inns for levy of service tax;
- exemption to services provided contract carriages is restricted to only services provided by non-air conditioned contract carriages;

2.

No. dated 11th July, 2014

Seeks to amend notification No.12/2013-ST dated 1st July, 2013, relating to exemption from service tax to SEZ Units or the Developer.

3.

No. dated 11th July, 2014

Seeks to amend notification No. 26/2012- Service Tax, dated 20th June, 2012,
- abatement of 60% to services provided by contract carriages and Radio taxis.
-conditions for availing the exemption against some entries modified

4.

No. dated 11th July, 2014

Seeks to amend the Service Tax Rules,1994 so as to prescribe,-
(i) the person liable to pay service tax for certain specified services - Banks to pay services tax on services provided by recovery agent
(ii) mandatory e-payment of service tax for all the assessees, with effect from 1st October,2014.

5.

No. dated 11th July, 2014

Seeks to amend the notification No.30/2012-ST dated 20th June,2012, so as to prescribe, the extent of service tax payable by recipient of Recovery Agent service- Banks and Financial institutions to pay 100% service tax as recipient.

6.

No. dated 11th July, 2014

Seeks to amend the Service Tax (Determination of Value) Rules, 2006 so as to prescribe the percentage of service portion in respect of works contracts, other than original works contract. Both finishing services and Repair services to pay service tax on 70% of value.

7.

No. dated 11th July, 2014

Seeks to notify the interest rate applicable in cases of delayed payment of service tax for the purposes of section 75 of the Finance Act, 1994.- Interest rates fixed - upto six months delay 18%; upto one year 24%; beyond one year 30%

8.

No. dated 11th July, 2014

Seeks to amend the Point of Taxation Rules, 2011, to prescribe the point of taxation for the services on which person liable to pay service tax is the recipient. Proviso amended to prescribe that where the payment is not made within a period of three months of the date of invoice, the point of taxation shall be the date immediately following the said period of three months

9.

No. dated 11th July, 2014

Seeks to amend the Place of Provision of Services Rule, 2012, to prescribe or modify the place of provision of services for certain specified services.
-significant change made to prescribe the place of provision of service in case of Commission agent/consignment agent (intermediaries) is the place where the service provider is located.
- in case of services hiring of aircrafts and vessels the location of recipient of such services.

10.

No. dated 11th July, 2014

Seeks to specify the class of persons for the purposes of section 96A- Advance Ruling- of the Finance Act,1994. Specifies Resident Limited Company.

Until Monday with more DDT

Have a nice weekend.

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