TIOL-DDT 2631 · the untouched capture
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<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399" size="3"><s><strong><font size="2"><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="3"><s><strong><font size="2"><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=23157"><img src="http://www.taxindiaonline.com/RC2/image/stories/limca_book2015_1.jpg" alt="DDT in Limca Book of Records - Third Time in a row" width="300" height="148" hspace="5" border="0" align="right" ></a></font></strong></font></strong></font></strong></font></strong></font></strong></s></font></strong></font></strong></font></strong></font></strong></font></strong></font></strong></s>TIOL-DDT 2631</font><br>
01 07 2015<br>
Wednesday</strong></font></p>
<p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><strong><em><font color="#006600">Audit: Frequently Asked Questions </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> Hyderabad Central Excise and Service Tax Audit Commissionerate has issued an FAQ on audit, which explains the rights and obligations of the assessees. All Commissionerates should give wide publicity to this and maybe every audit party should carry a copy and give to the assessee when they go for audit. Maybe it should be enclosed with the audit intimation. </font></p>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 1: What is Central Excise/Service Tax Audit? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: Audit is a verification of financial accounts and other records particularly records relating to production, clearance of goods or provision of service by the assessees to ascertain that duties of Central Excise / Service Tax are correctly paid. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 2: Who Conducts the Audit? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: The Central Excise officers posted in Commissionerate of Audit conducts Audit which include Assistant / Deputy Commissioner, Joint / Additional Commissioner or Joint Director (Cost).</font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 3: When I file returns periodically to the department, what is the need of conducting audit? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: The returns filed with the department are based on self-assessment. The correctness of the payment and application of statute are verified during the periodical Audits conducted by the department.</font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 4: Will assessee be audited every year? </font></td>
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<td colspan="2" valign="top"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: The present periodicity of Central Excise audit: </font></strong></td>
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<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1.Units paying more than Rs. 3 crores (PLA&Cenvat) </font></td>
<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Every Year </font></td>
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<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2.Units paying between Rs. 1 crore and Rs. 3 crores </font></td>
<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Once every two years </font></td>
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<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3.Units paying between Rs. 50 lakhs and Rs. 1 crore </font></td>
<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Once every five years </font></td>
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<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4.Units paying below Rs. 50 lakhs </font></td>
<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">10% of the units every year </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">For the categories mentioned at S. Nos. 2 to 4 of the above, the selection of units would be based on the unit-wise rupee risk parameters circulated by DG (Audit) combined with local risk parameters, if any. The quantum of annual duty payment in cash and cenvat are taken together for selection of unit. </font></td>
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<td colspan="2" valign="top"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The present periodicity of Service Tax audit: </font></strong></td>
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<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1.Taxpayers paying more than Rs. 50 lakhs </font></td>
<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Every year </font></td>
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<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2.Taxpayers paying between Rs. 25 lakhs and Rs. 50 lakhs. </font></td>
<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Once in two years </font></td>
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<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3.Taxpayers paying between Rs. 10 lakhs and Rs. 25 lakhs </font></td>
<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Once in five years. </font></td>
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<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4.Taxpayers paying below Rs. 10 lakhs - </font></td>
<td valign="top" bgcolor="#C8F3FD"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2% of the total number every year </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">For the categories mentioned at S. No. 2 to 4 the selection of assessees would be based on working on rupee risk (S1 parameter) and local risk parameters mentioned in the Service Tax Audit manual. The quantum of annual duty payment in cash and cenvat are taken together for selection of unit. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 5: What is the duration of the Audit? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: It depends upon the quantum of the record to be scrutinized and period covered for audit. In any case it may spread from two days to ten days. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 6: Will it be a surprise audit? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: No. A minimum of 15 days prior notice is served on the assessees regarding proposed audit. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 7: If I am registered for both Central Excise and Service Tax, whether two separate audits are conducted? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: Simultaneous Audit for Central Excise, Service Tax and OSPCA would be conducted. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 8: If factory is registered in one Commissionerate, Service Tax registration is in another Commissionerate, where registered office is located, what is the criterion for selection of audit? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: If both the registrations i.e., Central Excise and Service Tax are in Hyderabad zone, simultaneous audit would be conducted by Audit Commissionerate. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 9: If an assessee is having multi location manufacturing units, who conducts audit? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: Normally audit for Hyderabad Zone registered units is conducted by Hyderabad Audit Commissionerate. Multi locational units' audit in a few cases would be taken up under the Co-ordination of Audit Directorate.</font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 10: Under what authority department conducts audit? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: The statutory provisions relevant for audit is clause (x) of Section 37(2) and Rule 22 of the Central Excise Rules, 2002 for conducting Central Excise Audit and Rule 5A (2) of the Service Tax Rules, 1994 for Service Tax audit. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 11: Do I need to produce all my business records/documents? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: Since there are no prescribed Central Excise records, records maintained by the assessees are requested for scrutiny. These may include, financial statements, invoices, ledgers, bank statements, cenvat credit documents, accounting policies etc., apart from statutory returns.</font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 12: How much time is given for production of records? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: As an intimation of 15 days is given in advance, all records should be furnished to the audit team on or before their visit to the unit for audit. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 13: If records/accounts are maintained on a system using accounting packages like SAP/Tally/Focus etc., what is the procedure for conducting audit? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: In such cases, normally Computer Aided Audit Programme is conducted. You are requested to produce the soft copy of the records and also the records maintained in physical form. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 14: Can I ask for postponement of audit due to prior business engagements? </font></td>
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<td colspan="2" valign="top"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: Yes. In genuine cases on production of proper evidence, the competent authority may consider the request for postponement. Since the audit programme is drafted months in advance, postponements are not encouraged. </font></p>
<p><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">Who is this Competent Authority? </font></p></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 15: Will I get to know the objections raised during audit? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: Yes. The auditors discuss each and every objection they are going to raise and issue a spot memo. If assessees voluntarily rectify the error and corrects the same by payment of duty, interest and penalty etc., the para would be settled in MMCM. (<font color="#FF0000">What is this?</font>) </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 16: Can I get a copy of Final audit report? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: Yes. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 17: How long does it take to receive Final Audit Report? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: Normally within 15 days from the date of approval of audit report in Monthly Monitoring Committee meeting. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 18: Do I have opportunity to contest <font color="#009900"><strong>of (<em>sic</em>)</strong></font> the audit objection after receipt of Final Audit Report? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: Yes, you may like to send your detailed reply to the <em><strong>concerned</strong></em> ADC/JC of the circle. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 19: What is the next <font color="#006600"><strong>cource (sic)</strong></font> of action if the Department <font color="#006600"><strong>do</strong></font> not agree with my reply? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: A Show Cause notice is issued by the Audit Commissionerate answerable to respective competent authority in executive Commissionerate. The assessees written reply and submissions made in personal hearing will be considered and the case will be adjudicated. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 20: In case of grievance regarding the method of audit or behaviour of auditors, whom should I contact? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: You may contact the <em><strong>concerned</strong></em> circle Additional Commissioner. The assessees are also provided along with final audit report, a feed-back form regarding quality of audit and suggestions for improvement of audit. </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Question 21: Can I get guidance from the auditors regarding record keeping and application of law? </font></td>
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<td colspan="2" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Ans: Yes. The auditors are professionally trained to guide, educate and encourage tax compliance. </font></td>
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<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The questions marked in red are those of DDT.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Commissionerate has given a disclaimer -<em> For general information - not statutory provisions</em>. </font></p>
<p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><strong><em><font color="#006600">FTP - Prohibition on Trade with Islamic State in Iraq and Levant (ISIL) </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>IN</strong> compliance with United Nations Security Council Resolution No. 2199 [2015] trade in oil and refined oil products, modular refineries and related materials, besides items of cultural (including antiquities), scientific and religious importance is prohibited with the Islamic State in Iraq and the Levant [ISIL], Al Nusrah Front [ANF] and other individuals, groups, undertakings and entities associated, directly or indirectly, with Al Qaida. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MTgyNTY=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Notification No. 14/2015-2020, Dated: June 30, 2015 </font></strong></a></p>
<p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><strong><em><font color="#006600">Import of certain categories of processed metallic scrap, at designated ports</font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>DGFT</strong> has inserted paragraph 2.54 A in the Handbook of Procedures of FTP 2015-20, and Appendices 2N-2, 2G-1 and 2FI-1 in Appendices and Aayat Niryat Forms of <strong>FTP 2015-20</strong>: </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Import of processed metallic scrap, may be allowed at designated ports (with Scanner/RDE facility), as listed in Appendix 2G-1 of Appendices and Aayat Niryat Forms of FTP 2015-20, without PSIC subject to fulfillment of certain conditions:- </font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(a) The importer shall have to submit a self declaration cum legal undertaking, as given in Appendix 2 N-2 of Appendices and Aayat Niryat Forms of FTP 2015-20, along with a Pre-shipment Inspection Certificate in Format 2FI-1, issued by the Inspecting Agency/Scrap Yard. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(b) Importer shall furnish bank guarantee of Rupees 10,00,000/- (Rupees ten lakh) to the Customs as security amount. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(c) Importer shall also have to submit a copy of contract with the exporter stipulating that the consignment does not contain any type of arms, ammunition, mines, shells, cartridges, radioactive contaminated material, or any other explosive material. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(d) All scrap consignments, so imported at the designated ports, shall have to compulsorily pass through the Scanner / Radiological Detection Equipments (RDEs), installed at these ports, before being cleared by the Customs. </font></p>
</blockquote>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MTgyNTg=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Public Notice No. 23/2015-20 New Delhi: Dated June 30, 2015 </font></strong></a></p>
<p align="center"><font size="3"><strong><em><font color="#006600" face="Verdana, Arial, Helvetica, sans-serif">Tariff Values Decreased </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE </strong>Government has decreased the Tariff value of Gold from 385 USD to 382 USD per 10 grams and Silver from 519 USD to 516 USD per kilogram. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff values of Poppy Seeds and Areca Nuts remain unchanged. Tariff Values of oils are decreased. Brass scrap also sees a downward trend.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Tariff values as on 15.06.2015 and with effect from 30.06.2015 are as under: </font></p>
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<td colspan="8" valign="top"><div align="center"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Table 1 </font></strong></div></td>
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<td valign="top"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">S. No. </font></strong></td>
<td colspan="2" valign="top"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Chapter/ heading/ sub-heading/tariff item </font></strong></td>
<td colspan="2" valign="top"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Description of goods </font></strong></td>
<td colspan="2" valign="top"><div align="center"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD (Per Metric Tonne) from 15.06.2015 </font></strong></div></td>
<td valign="top"><div align="center"><strong><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD (Per Metric Tonne) from 30.06.2015 </font></strong></div></td>
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<td valign="top"><div align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(1) </font></strong></font></div></td>
<td colspan="2" valign="top"><div align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(2) </font></strong></font></div></td>
<td colspan="2" valign="top"><div align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(3) </font></strong></font></div></td>
<td colspan="2" valign="top"><div align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(5) </font></strong></font></div></td>
<td valign="top"><div align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(6) </font></strong></font></div></td>
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<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 10 00 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Palm Oil </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">680 </font></td>
<td valign="top"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">662 </font></td>
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<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">2 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 10 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">RBD Palm Oil </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">690 </font></td>
<td valign="top"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">682 </font></td>
</tr>
<tr bgcolor="#C7FCF5">
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">3 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 90 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Others - Palm Oil </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">685 </font></td>
<td valign="top"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">672 </font></td>
</tr>
<tr bgcolor="#C7FCF5">
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">4 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 10 00 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Palmolein </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">701 </font></td>
<td valign="top"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">683 </font></td>
</tr>
<tr bgcolor="#C7FCF5">
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">5 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 20 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">RBDPalmolein </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">704 </font></td>
<td valign="top"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">686 </font></td>
</tr>
<tr bgcolor="#C7FCF5">
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">6 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1511 90 90 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Others -Palmolein </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">703 </font></td>
<td valign="top"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">685 </font></td>
</tr>
<tr bgcolor="#C7FCF5">
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">7 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1507 10 00 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude Soyabean Oil </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">800 </font></td>
<td valign="top"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">763 </font></td>
</tr>
<tr bgcolor="#C7FCF5">
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">8 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">7404 00 22 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Brass Scrap (all grades) </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">3592 </font></td>
<td valign="top"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">3533 </font></td>
</tr>
<tr bgcolor="#C7FCF5">
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">9 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1207 91 00 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Poppy seeds </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">2602 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">2602 </font></td>
</tr>
<tr>
<td colspan="8" valign="top"><div align="center"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Table 2 </font></strong></div></td>
</tr>
<tr bgcolor="#D9F5CD">
<td valign="top"><div align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">S. No. </font></strong></font></div></td>
<td valign="top"><div align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Chapter/ heading/ sub-heading/tariff item </font></strong></font></div></td>
<td colspan="3" valign="top"><div align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Description of goods </font></strong></font></div></td>
<td colspan="2" valign="top"><div align="center"><font color="#0000FF"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD from 15.06.2015 </font></strong></font></div></td>
<td valign="top"><div align="center"><font color="#0000FF"><strong><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD from 30.06.2015 </font></strong></font></div></td>
</tr>
<tr bgcolor="#D9F5CD">
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">71 or 98 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" 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></td>
<td colspan="2" valign="top"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">385 per 10 grams</font></strong></td>
<td valign="top"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">382 per 10 grams </font></strong></td>
</tr>
<tr bgcolor="#D9F5CD">
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">2 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">71 or 98 </font></td>
<td colspan="3" valign="top"><font color="#0000FF" 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></td>
<td colspan="2" valign="top"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">519 per kilogram </font></strong></td>
<td valign="top"><strong><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">516 per kilogram </font></strong></td>
</tr>
<tr>
<td colspan="8" valign="top"><div align="center"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Table 3 </font></strong></div></td>
</tr>
<tr bgcolor="#F5BC89">
<td valign="top"><div align="center"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">S. No. </font></strong></div></td>
<td colspan="2" valign="top"><div align="center"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Chapter/ heading/ sub-heading/tariff item </font></strong></div></td>
<td valign="top"><div align="center"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Description of goods </font></strong></div></td>
<td colspan="2" valign="top"><div align="center"><strong><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD (Per Metric Tons) from 15.06.2015 </font></strong></div></td>
<td colspan="2" valign="top"><div align="center"><font color="#FF0000"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value USD (Per Metric Tons) from 30.06.2015 </font></strong></font></div></td>
</tr>
<tr bgcolor="#F5BC89">
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">1 </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">080280 </font></td>
<td valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">Areca nuts </font></td>
<td colspan="2" valign="top"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif">2268 </font></td>
<td colspan="2" valign="top"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">2268 </font></td>
</tr>
</table>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MTgyNTc=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 65/2015-Cus.(N.T.), Dated: June 30, 2015</font></strong></a></p>
<p align="center"><font size="3"><strong><em><font color="#006600" face="Verdana, Arial, Helvetica, sans-serif">Income Tax e-filing is ready </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> e-filing portal of the Income Tax Department is ready to accept online filing of income tax returns with the new forms notified recently. </font></p>
<p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><strong><em><font color="#006600">Najib Shah - New Chairman of CBEC - Please clarify Education Cess </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Mr</strong>.Najib Shah will take over as the new Chairman of CBEC today. Sir, while there are a lot of issues crying for your attention, it will be a good idea to start your innings with a clarification on what happens to the accumulated credit of education Cesses lying in the CENVAT accounts of the assessees. The assessees are really concerned about this blocked up amount and the unconcerned silence of the Board. Will you ask your <em><strong>concerned</strong></em> officers to clarify the position as soon as possible? </font></p>
<p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><strong><em><font color="#006600">WCO Photo Competition 2015 - Lithuania Entry </font></em></strong></font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><img src="http://www.taxindiaonline.com/RC2/image/stories/Lithuania_Entry.jpg" alt="" width="579" height="411" hspace="5" border="0" align="center"></font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <font color="#FF6666">Until Tomorrow with more<strong> DDT </strong></font></font></p>
<p><strong><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have a nice day.</font></strong></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@tiol.in"><strong>vijaywrite@tiol.in</strong></a></font></p>
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