TIOL-DDT 2812 · the untouched capture
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<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"> <html> <head> <title>Untitled Document</title> <meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1"> </head> <body> <p><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><strong><font color="#663399" size="3" face="Verdana, Arial, Helvetica, sans-serif">TIOL-DDT 2812 </font><font size="3" face="Verdana, Arial, Helvetica, sans-serif"></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br> 22 03 2016 <br> Tuesday</font></strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> </font></p> <p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><strong><em><font color="#006600">Excise Duty on Gold Jewellery - No Search, seizure or arrest </font></em></strong></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> 1% excise duty on jewellery imposed with effect from 1st March 2016 has resulted in too much confrontation and distrust that gold shops downed their shutters in fear of excise. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">What is the gold seller afraid of? 1% duty or the Excise officers or the complicated procedure? </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Government has decided to constitute a sub committee of the High Level Committee headed by Dr. Ashok Lahiri to study the issue. The sub committee will study the issues related to compliance procedure for the excise duty, including records to be maintained, forms to be filled, operating procedures and any other issues that may be relevant. The Sub-Committee will submit its report within 60 days of its constitution. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Till the Committee submits its report there is a hands-off policy by the CBEC. </font></p> <blockquote> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. All payments of central excise duty will be based on first sale invoice value; </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. The central excise authorities will not challenge the valuation given in the invoice provided the caratage / purity and weight of the gold/silver with precious stones; and carats of diamond/precious stones are mentioned on the invoice; </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. The central excise officers will not visit the manufacturing units/ shops/ place of business/residence of the jewellers; </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4. No arrest or criminal prosecution of any jeweller will be done; </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. No search or seizure of stocks by any central excise official will be effected; </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6. Exporters will be allowed to export on self declaration and submission of LUT to customs without the need to get LUT ratified by central excise. Prevailing system will continue. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7. The registration of the establishment with the central excise department can be taken within 60 days from 1st March, 2016. However, the liability for payment of central excise duty will be with effect from 1st March, 2016, and as a special case for the month of March, 2016, the assessee jewellers will be permitted to make payment of excise duty along with the payment of excise duty for the month of April, 2016. </font></p> </blockquote> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Also see</strong> <a href="http://www.taxindiaonline.com/RC2/NewsDesc.php?MpoQSrPnM=MjYzOTM=" target="_blank"><strong>Excise Duty on Gold Jewellery - Kal, AajaurKal ? </strong></a><strong>& <a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=26521" target="_blank">It's back to business</a></strong> </font></p> <p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MTk0MTk=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBEC Circular No. 1021/9/2016-CX., Dated: March 21, 2016 </font></strong></a></p> <p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><strong><em><font color="#006600"><a name="f1"></a>Brief the Counsels properly - CBEC Chairman to field officers </font></em></strong></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>CBEC </strong>Chairman Najib Shah in a D.O. Letter to his Chief Commissioners has reminded them on the Board's earlier letters on the need for proper presentation and briefing to the Departmental Counsel to enable them make effective presentation before the Apex Court. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A briefing team was also constituted in the Department of Legal Affairs to co-ordinate with the field formations and the counsels. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Chairman reminds that the field formations have not paid adequate attention for sending the requisite brief for these cases and for timely briefing of the Panel Counsels inspite of repeated directions from the Board in this regard. This has reflected in the poor performance of the Department which has shown in an overall success rate of about 30%. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Chairman wants the Chief Commissioners to ensure that: </font></p> <blockquote> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. Counsels are briefed properly </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. the Department is adequately represented before the Apex Court by a well conversant officer not below the rank of Deputy/Assistant Commissioner in consultation with the Directorate of Legal Affairs. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. The said officer should without fail, also attend the hearing of the case when the matter is argued before the Bench and give a report on the same day after conclusion of hearing.. </font></p> </blockquote> <p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MTk0MjI=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBEC Chairman's D.O.F. No: 1080/05/DLA/36/15., Dated: March 17, 2016 </font></strong></a></p> <p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><strong><em><font color="#006600"><a name="f2"></a>FTP - Allocation of additional quantity for export of sugar to USA under Tariff Rate Quota (TRQ) </font></em></strong></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>DGFT</strong> has allocated an additional quantity of 723 MTs (Seven Hundred and Twenty Three metric tons) of raw cane sugar (at 98 degree pol), out of non-levy (Free Sale) quota for export under Tariff Rate Quota (TRQ) to USA for the US fiscal year 2016 (October 1, 2015 to September 30, 2016). </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As per Notification No. 3/2015-20 dated 20.04.2015, export of sugar (HS Code 17010000) to USA under TRQ is 'Free' subject to the conditions notified in the 'Nature of Restrictions' in the notification. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Certificate of Origin, if required, for export of preferential sugar to USA, shall be issued by Additional Director General of Foreign Trade, Mumbai. Other certification requirement, if any, prescribed specifically for export of sugar to USA would continue to be followed. </font></p> <p><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MTk0MjE=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Public Notice No. 66/2015-2020., Dated: March 21, 2016 </font></strong></a></p> <p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><em><strong><font color="#006600"><a name="f3"></a>IRS Officer Transgressing his Jurisdiction - Election Commission Frowns </font></strong></em></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THERE </strong>were news reports published in some newspapers quoting that the Expenditure Observer deployed by the Election Commission of India conducted a search at the residence of a sitting Minister in Assam on 16th March 2016. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">It has been ascertained that the Search and Seizure operation had been conducted independently by the Income Tax Department under the provisions of the Income Tax Act on receipt of intelligence from other independent agency. Meanwhile the Expenditure Observer deployed by the Commission had activated the Flying Squad as a part of follow up action, following the information received from the Income Tax department. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Election Commission found that in this case, the Expenditure Observer has transgressed his jurisdiction by reaching at the spot himself and acted against the instructions of the Election Commission. The Commission does not authorise any of its observers to carry out any such enforcement activities by himself/herself. The observers on receiving such information are required to pass on the same to enforcement agencies for appropriate actions and continue monitoring the action taken as laid down in the Manual of ECI. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Commission has viewed this lapse by Expenditure Observer seriously and has withdrawn him from constituency forthwith and instructed the controlling authority to initiate suitable departmental action against him. All Observers have been directed to perform their actions within the prescribed framework as laid down by ECI manual. </font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The honourable Expenditure Observer in this case, who has created a major crisis, is an Additional Commissioner of Central Excise and Customs. </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"><strong><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have a nice day.</font></strong></p> <p align="justify"><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"><strong><a href="mailto:vijaywrite@tiol.in">vijaywrite@tiol.in</a></strong></font></p> </body> </html>