TIOL-DDT 27 · the untouched capture
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<html> <head> <title>Untitled Document</title> <meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1"> </head> <body bgcolor="#FFFFFF"> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#0000FF" size="3">TIOL-DDT 27</font><br> 7 1 2005<br> Friday</b></font></p> <p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b>DGFT allows free import of antiquarian books</b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As per the Foreign Trade Policy, Exim code 9706 00 00, import of antiques exceeding one hundred years of age is restricted. Now the DGFT has allowed free import of antiquarian books.<br> <br> <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2004/dgft04not014.htm">DGFT Notification No. 14/2004-09 Dated: January 4, 2005</a><br> <br> <b>Videsh Krishi Upaj Yojana - coffee, tea and mates not allowed benefit:-</b> The Foreign Trade Policy 2004-09 introduced a new scheme called Videsh Krishi Upaj Yojana to promote export of fruits, vegetables, flowers, minor forest produce and their value added products. Now the DGFT has amended the policy to give details of the scheme.<br> <br> 1. Benefits under the scheme are available for export of live trees and plants, edible vegetables, edible fruit and nuts, spices and preparations of fruits, nuts and vegetables. However export of coffee and tea are not covered under the scheme.<br> <br> 2. Import of items covered under chapters 1 to 24 will be allowed.<br> <br> 3. However import of certain items like Garlic, Peas, Coconut, Areca Nut, Oranges, Lemon, Fresh Grapes, Apple and Pears, spices, Tea, Coffee and Pepper, Oil Seeds, Natural Rubber, will not be allowed.<br> <br> 4. Import of all edible oils classified under Chapter 15, shall be allowed under the scheme only through STC and MMTC.<br> <br> <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2004/dgft04not015.htm">DGFT Notification No. 15/2004-09 Dated: January 4, 2005</a><br> <font color="#006633"><br> <b>Target Plus Scheme – amended in tune with krishi yojana-</b><br> </font><br> This is a scheme to reward star export houses who have achieved a quantum growth in exports. They were allowed to import any inputs. However the restriction of certain items covered in the notification No. 15 detailed above, are now made applicable to this scheme also including the restriction that Import of all edible oils classified under Chapter 15, shall be allowed under the scheme only through STC and MMTC.<br> <br> <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2004/dgft04not016.htm">DGFT Notification No. 16/2004-09 Dated: January 4, 2005</a><br> <br> <font color="#006633"><b>And now comes the anti climax – restricting the imports through STC and MMTC deleted:- </b></font><br> <br> But only for Krishi Yojana and not Target plus scheme. The cut and paste technology is playing havoc with DGFT too. Two days after Notifications 15 and 16 were issued, DGFT has come up with another notification that restriction of importing edible oils only through STC and MMTC is deleted from notification No. 15, i.e. Krishi Yojana but it has not been withdrawn for Target Plus. This means exporters of agri products can import edible oils directly but big star export houses can import it only through STC or MMTC. Hopefully DGFT will come up with another amending notification to set this right. Consequential amendment was made in the Handbook of procedures by <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2004/dgft04pub041.htm">PN No. 41 dated 4.1.2004</a> which was amended by <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2004/dgft04pub042.htm">PN No. 42 dated 6.1.2004</a>. Strangely all these notifications and PNs were made available to the Public only on 6.1.2004. And the HOP still carries the restriction that import shall be only through STC or MMTC. Notification manufacturing in the DGFT seems to be as bad as that in the CBEC. That Government is the best which governs the least and that Government agency is the best which issues the least notifications. <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2004/dgft04not017.htm">See DGFT Notification No. 17/2004 dated January 6, 2005.</a><br> <br> <font color="#006633"><b>Anti dumping duty on lead acid batteries discontinued</b></font><br> <br> The Anti dumping duty on lead acid batteries was imposed by Notification No. 1/2002 cus dated 2.1.2002. And now, based on the findings of the Designated Authority that the dumping will not cause injury to the domestic industry, the Government has discontinued the anti dumping duty by rescinding Notification No. 1/2002.<br> See <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2005/ctariff05_001.htm">Notification No. 1/2005 – cus dated 4.1.2005</a><br> <br> <font color="#0000FF"><b>The only thing that you can be sure about the weather or the tax laws is that they will change. </b></font><br> <br> <b><font color="#FF0000">Until Monday with more of DDT </font></b></font></p> <p align="justify"><b><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have a Nice Weekend</font></b><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br> </font></p> </body> </html>