TIOL-DDT 242 · the untouched capture
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<title>TIOL-DDT 243</title>
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<p><b><font color="#663399" size="3" face="Verdana, Arial, Helvetica, sans-serif">TIOL-DDT
2</font></b><font color="#663399" size="3" face="Verdana, Arial, Helvetica, sans-serif"><b>42</b></font><font color="#000000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><br>
17 11 2005<br>
Thursday</b></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Tariff
Values for palm oil decreased and brass scrap increased.</strong></font></p>
<font size="2" face="Verdana, Arial, Helvetica, sans-serif">The existing and
the new rates are as follows: <br>
<br>
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<table border=1 cellspacing=0 cellpadding=0 width=450
id=table1>
<tr>
<td width=45 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">S.No.</font></p></td>
<td width=86 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Chapter
heading or sub-heading</font></p></td>
<td width=190 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Description
of goods</font></p></td>
<td width=55 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff
value<br>
US$<br>
(Per Metric Tonne)</font></p></td>
<td > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>New
tariff values</b></font></p></td>
</tr>
<tr>
<td width=45 > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(1)</font></p></td>
<td width=86 > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(2)</font></p></td>
<td width=190 > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(3)</font></p></td>
<td width=55 > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(4)</font></p></td>
<td > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>5</b></font></p></td>
</tr>
<tr>
<td width=45 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1</font></p></td>
<td width=86 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
10 00</font></p></td>
<td width=190 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude
Palm Oil</font></p></td>
<td width=55 valign=top > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">434</font></p></td>
<td > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>433</b></font></p></td>
</tr>
<tr>
<td width=45 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2</font></p></td>
<td width=86 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
90 10</font></p></td>
<td width=190 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBD
Palm Oil</font></p></td>
<td width=55 valign=top > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">439</font></p></td>
<td > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>435</b></font></p></td>
</tr>
<tr>
<td width=45 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3</font></p></td>
<td width=86 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
90 90</font></p></td>
<td width=190 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Others
– Palm Oil</font></p></td>
<td width=55 valign=top > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">437</font></p></td>
<td > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>434</b></font></p></td>
</tr>
<tr>
<td width=45 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4</font></p></td>
<td width=86 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
10 00</font></p></td>
<td width=190 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude
Palmolein</font></p></td>
<td width=55 valign=top > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">443</font></p></td>
<td > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>440</b></font></p></td>
</tr>
<tr>
<td width=45 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5</font></p></td>
<td width=86 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
90 20</font></p></td>
<td width=190 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBD
Palmolein</font></p></td>
<td width=55 valign=top > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">449</font></p></td>
<td > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>445</b></font></p></td>
</tr>
<tr>
<td width=45 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6</font></p></td>
<td width=86 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
90 90</font></p></td>
<td width=190 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Others
– Palmolein</font></p></td>
<td width=55 valign=top > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">446</font></p></td>
<td > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>443</b></font></p></td>
</tr>
<tr>
<td width=45 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7</font></p></td>
<td width=86 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1507
10 00</font></p></td>
<td width=190 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude
Soyabean Oil</font></p></td>
<td width=55 valign=top > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">513</font></p></td>
<td > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>510</b></font></p></td>
</tr>
<tr>
<td width=45 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8</font></p></td>
<td width=86 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7404
00 22</font></p></td>
<td width=190 > <p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Brass
Scrap (all grades)</font></p></td>
<td width=55 valign=top > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2067</font></p></td>
<td > <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>2102</b></font></p></td>
</tr>
</table>
</div>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2005/cnt05_100.htm">NOTIFICATION
NO. 100 /2005-CUS (N.T.) Dated : November 16, 2005</a></b></font></p>
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Chidambara
Rahasyam</strong></font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Finance Minister
P Chidambaram has revealed yesterday several secrets about Indian economy</font></p>
</div>
<ul>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
new Banking Cash Transaction Tax imposed this year has started yielding results
by helping authorities keep a track on black money.</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">I
can't disclose specific cases. We have detected a case in which a person operated
from 200 accounts</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">Apart
from keeping a track on black money, BCTT also garnered some revenue to the
government</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">BCTT
is helping tax department in keeping a trail on black money. The department
recently decided to track cash withdrawal of slightly less than Rs 25,000
from non-saving accounts of banks on a single day. The move comes after tax
departments received reports that some black money generators avoid giving
any clue to the authorities by not falling under the net of BCTT by withdrawing
slightly less than Rs 25,000 from banks on a single day.</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">Government
is committed to its budget promise on simplifying tax laws and a bill is expected
to early next year. <b>(No! Not again!)</b></font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">a
panel headed by Rangarajan was looking into proposed rationalisation of duties
on petroleum products</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
suggestion to replace Income Tax by a Transaction Tax is an old one but cannot
be implemented as there is no way to track all transactions</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">tribals
are exempted from income tax for historical reasons. There is no proposal
to withdraw it.</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">BCTT
has already started yielding results with 10 parties involved in Hawala business
being nabbed for black money generation through large withdrawals of cash
from banks.</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
new tax has enabled the tax department to trap seven parties involved in issuing
bogus bills to dal and flour mills in <st1:City
w:st="on">Delhi to evade tax</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">Competitiveness,
consolidation and convergence will drive the banking industry in the future</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">In
future, competitiveness of the banks would depend on the service they provide
and the service capability would largely be dependant on their size. Customers
will demand all services under one roof</font></li>
<li> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">Credit
is the driver of the economy</font></li>
</ul>
<div >
<p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>PSU
Goliath wants government help in fighting private sector David</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
Finance Minister often highlights the fact that the public sector banks are
constantly out performed by their private sector counterparts. It seems the
largest bank in <st1:country-region w:st="on">India, SBI has written to the
government to provide a level playing field to compete with the private banks.
Look at these facts:-</font></p>
<p align="justify"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">·
Unlike foreign and private sector banks which focus on up-market customers
in large cities, SBI has been providing customer services-based on modern
technology to the common citizen across the length and breadth of the country</font></p>
<p align="justify"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">·
Though the cost of such services tend to be high, SBI has kept the minimum
balance requirements low and affordable to the common customer</font></p>
<p align="justify"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">·
for the PSBs, unlike private banks, most of the customers are in rural and
semi-urban centres who prefer branch banking and customer services at branches</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">And
on closer interaction, you will find that these hi-tech banks are not really
all that efficient!</font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#990000">Hastasya
Bhushanam Danam </font></b></font></p>
<p align="center"><font color="#990000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Sathyam
Kanthasya Bhushanam </b></font></p>
<p align="center"><font color="#990000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Stotrasya
Bhushanam Sastram </b></font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#990000">(Charity
is the true ornament of the hands, truth is the true necklace and listening
to sacred texts (science) is the true ornament of the ears).</font></b></font></p>
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"> </font>
<p><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#FF6666">Until
tomorrow with more DDT</font></b></font></p>
<p><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Have
a nice day. </b></font> </p>
<p><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Mail
your comments to</b></font> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a
href="mailto:vijaywrite@taxindiaonline.com"><b>vijaywrite@taxindiaonline.com</b></a>
</font></p>
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