TIOL-DDT 2876 · the untouched capture
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<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=26988"><img src="http://www.taxindiaonline.com/RC2/image/stories/limca_book2016.jpg" alt="DDT in Limca Book of Records - Third Time in a row" width="252" height="220" hspace="5" border="0" align="right" ></a><strong><font color="#663399" size="3">TIOL-DDT 2876</font><br>
27 06 2016 <br>
Monday</strong></font></p>
<p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><strong><em><font color="#006600">Service Tax - Exemption from KKC - Impossible?<br>
Point of Taxation - Point of Litigation? </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>GOVERNMENT</strong> has exempted taxable services with respect to which the invoice for the service has been issued on or before the 31st May, 2016, from the whole of Krishi Kalyan Cess leviable thereon, but nothing comes from the Board without a condition or confusion. Now, the condition for this exemption is that<em> the provision of service has been completed on or before the 31st May, 2016</em>. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This is easier said than done. How do you really find out when the service was actually provided? How does an assessee prove that he has completed providing the service? Without this largesse from the Government most of the assessees had decided to pay the 0.5% KKC. Now they will be confused on how to avail this exemption. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">I asked an expert in the field to comment. This is what he told me: </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif" style="background-color:#FFFF00" span="span">Exemption of KKC for amounts received on or after 01/06/2016 - An impossible condition? </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The explanation inserted in Rule 5 of POT rules during the Budget has made the outstanding amounts received by the service providers (the services for which the service provider has already issued invoice and discharged service tax @14.5) on or after 1.06.2016 attract service tax and different opinions are circulating among the trade on how to treat such amounts in view of amended Rule 5 of POT. With the issuance of Notification No. <strong><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAwOTY=" target="_blank">35/2016-ST</a></strong> dt. 23.06.2016, there has been a sigh of relief in the trade circles. However, it appears that the euphoria is short lived as the notification contains a condition - that the provision of service has been completed on or before the 31st May, 2016- which is near impossible to fulfill. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Unlike goods, since services are intangible, it is difficult to specify exactly when a Service has been delivered or completed for the purpose of assessment and payment of Service Tax. To address this problem, the Government came up with POT Rules in 2011 to specify when the service is deemed to have been completed. Irrespective of time of providing Service, the Rules provide "<em>point of assessment and payment</em>” for different situations(though the word assessment was not specifically used in the Rules). Rule 3 of POT rules is a general rule which specifies that service tax is payable when the invoice is issued or payment received whichever is earlier. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">KKC has been levied on all taxable services with effect from 01/06/2016 and Rule 5 of POT Rules has also amended during the Budget, by inserting an explanation under Rule 5 to make this Rule to apply on <em>"new levy</em>". Since KKC is new levy, all transitional cases are made to be covered by amended Rule 5. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now after the of amendment of Rule 5, KKC is not payable if: </font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">a) The invoice is issued and payment is also received before 01/06/2016 </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">b) Payment has been received before 01/06/2016, but invoice has been issued within 14 days (i.e., on or before 14/06/2016) </font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(Please note that in the above situations, though the service may actually be rendered after 01/06/2016, yet no KKC is applicable as per this sub-rule) </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">In effect, all the outstanding amounts (lying as debtors as on 31/05/2016) received on or after 1.06.2016, will be subjected to levy of KKC as and when they are received by the service providers, notwithstanding the fact that the assessees might have already discharged Service Tax on these outstanding amounts at 14.5% at the time of issue of invoices by following general rule 3 of POT. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Government has issued Notification No 35/2016 ST dt. 23.06.16, exempting KKC on all taxable services where invoice has been issued on or before 31/05/2016. Thus, with the issuance of this notification the amounts received from debtors on or after 01/06/2016 should not be attracting service tax, as in such cases the invoices would have been issued on or before 31/05/2016. However, this Notification comes with a condition that the provision of Service should be completed on or before 31/05/2016, which has taken away the relief given in the notification and perhaps created a point of litigation. How can an assessee establish that the provision of Service has been completed in respect of outstanding amount? If it was that simple to establish when the service was completed, then there was no need to bring in the POT Rules. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Let us take an example. An assessee provided different services to XYZ Ltd and issued four bills as indicated below: </font></p>
<table width="90%" border="1" align="center" cellpadding="3" cellspacing="0">
<tr>
<td> </td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Dr</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Cr</font></td>
</tr>
<tr>
<td width="168" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Inv Dt 15/01/2016 </font></td>
<td><div align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,50,000 </font></div></td>
<td><div align="right"></div></td>
</tr>
<tr>
<td width="168" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Receipt </font></td>
<td><div align="right"></div></td>
<td><div align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,00,000 </font></div></td>
</tr>
<tr>
<td width="168" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Inv Dt 05/02/2016 </font></td>
<td><div align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">75,000 </font></div></td>
<td><div align="right"></div></td>
</tr>
<tr>
<td width="168" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Receipt </font></td>
<td><div align="right"></div></td>
<td><div align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">60,000 </font></div></td>
</tr>
<tr>
<td width="168" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Inv Dt 10/03/2016 </font></td>
<td><div align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2,00,000 </font></div></td>
<td><div align="right"></div></td>
</tr>
<tr>
<td width="168" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Receipt </font></td>
<td><div align="right"></div></td>
<td><div align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,75,000 </font></div></td>
</tr>
<tr>
<td width="168" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Inv Dt 15/05/2016 </font></td>
<td><div align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,00,000 </font></div></td>
<td><div align="right"></div></td>
</tr>
<tr>
<td width="168" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Receipt </font></td>
<td><div align="right"></div></td>
<td><div align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">80,000 </font></div></td>
</tr>
<tr>
<td width="168" valign="top"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Outstanding as on 31.5.2016 </font></td>
<td><div align="right"></div></td>
<td><div align="right"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1,10,000 </font></div></td>
</tr>
</table>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now, in respect of balance amount of Rs 1,10,000/-, how should one establish provision of service has been completed when the outstanding amount cannot be linked to any particular invoice in the books?</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Instead of inserting such condition in the Notification, what will happen if KKC is totally exempted on all the outstanding amounts as on 01/06/2016 on which assessee has already paid ST @ 14.5? How much revenue the Government will lose if the Notification is unconditional? Can any assessee satisfy the officers that the provision of Service has been completed in respect of amounts realized on or after 01/06/2016? Why can't the Government be a little more generous and say in respect of all assessments where the Service Tax has been discharged at 14.5% before KKC is effective, there is no need to pay additional 0.5% towards KKC? </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">For the cases covered under Rule 5(a), where the invoice issued and payment received, the Government is not collecting KKC even though Service has been rendered on or after 01/06/2016. Why can't the same ratio be applied for the cases where invoice has been issued, but payment is received on or after 01/06/2016, without adding the condition that the Service should also be completed on or before 31/05/2016? </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAwOTY=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 35/2016-ST., Dated:. June 23, 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>Service Tax - transportation of goods by vessel from outside India up to the customs station - Exemption </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>GOVERNMENT</strong> has exempted the taxable services by way of transportation of goods by a vessel from outside India upto the customs station in India with respect to which the invoice for the service has been issued on or before the 31st May, 2016, from the whole of service tax leviable thereon. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This is subject to the condition that the import manifest or import report required to be delivered under section 30 of the the Customs Act, has been delivered on or before 31st May, 2016 and the service provider or recipient produces Customs certified copy of such import manifest or import report. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAwOTc=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 36/2016-ST., Dated:. June 23, 2016 </font></strong></a></p>
<p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Also see - <a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=26467">Taxing ocean freight - An ill-conceived move? </a></font></strong></p>
<p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=26469">Double Taxation on ocean freight </a> </font></strong></p>
<p><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=26468">Service Tax on ocean freight - Hard days for importers? </a></font></strong></p>
<p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><strong><em><font color="#006600"><a name="f2"></a>Indirect Taxes - Chief Commissioner's Annual Conference - Action points - Withdrawal of Cases </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>CBEC</strong> has asked the Chief Commissioners to put up the list of proposed withdrawals/withdrawn cases of CESTAT and High Court below the threshold limit on the respective websites of the Commissionerates under their charge and also inform the <em><strong>concerned</strong></em> assessees who are the respondents in all such cases. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This is one of the Action Points arising out of the Chief Commissioner's Annual Conference held at New Delhi from 16th to 18th June, 2016. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Further, the Commissioners are required to issue Trade Notices/Public Notices, disseminating information in so far as they relate to the assessees, from the various instructions/circulars issued. (<font color="#FF0000">what does this mean?</font>) </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Board wants a consolidated action taken report on the above mentioned points to by 30/06/2016. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAxMTI=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBEC F.No.390/Misc./38/2016-JC., Dated: June 23, 2016 </font></strong></a></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The following was the suggestion that <a href="http://www.taxindiaonline.com/RC2/NewsDesc.php?MpoQSrPnM=MjU5OTQ=" target="_blank"><strong>DDT 2781</strong> </a>made while reporting the <a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MTkxNTI=" target="_blank"><strong>CBEC letter F.No.390/Misc./163/2010-JC dated February 4, 2016</strong></a>. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">"<font color="#993300"><em>It would also be nice on the part of the Board to inform all the assessees concerned the appeals which have been withdrawn by the Department rather than parting with this information only after an RTI application is filed! The Commissionerate and the CESTAT website could explore the idea of carrying a link giving all the details of such 'withdrawal applications' and thereby contribute their might towards 'ease of doing business' </em></font>.” </font></p>
<p align="center"><font size="3" face="Georgia, Times New Roman, Times, serif"><em><strong><font color="#006600"><a name="f3"></a>Cash Transaction - Amendment in Section 206C of Income-tax Act - Clarifications </font></strong></em></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>IN</strong> order to curb the cash economy, Finance Act 2016 has amended section 206C of the Income-tax Act to provide that the seller shall collect tax at the rate of one per cent from the purchaser on sale in cash of certain goods or provision of services exceeding two lakh rupees. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Board clarifies the issue as regards applicability of the provisions relating to levy of TCS where the sale consideration received is partly in cash and partly in cheque in the form of question and answer as: </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Question 1</strong>: Whether tax collection at source under section 206C(1D) at the rate of 1% will apply in cases where the sale consideration received is partly in cash and partly in cheque and the cash receipt is less than two lak rupees.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Answer</strong>: No. Tax collection at source will not be levied if the cash receipt does not exceed two lakh rupees even if the sale consideration exceeds two lakh rupees. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Illustration: Goods worth Rs. 5 lakhs is sold for which the consideration amounting to Rs.4 lakhs has been received in cheque and Rs.1 lakh has been received in cash. As the cash receipt does not exceed Rs.2lakh, no tax is required to be collected at source as per section 206C (1D). </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Question 2</strong>: Whether tax collection at source under section 206C (1D) will apply only to cash component or in respect of whole of sales consideration. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Answer</strong>: Under section 206C (1D), the tax is required to be collected at source on cash component of the sales consideration and not on the whole of sales consideration. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAxMDk=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBDT Circular No. 23/2016, Dated: June 24, 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="f4"></a>Increase in All Industry Rates (AIR) of Duty Drawback on gold jewellery and silver jewellery/articles </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE </strong>Government has amended the AIR Drawback Notification <a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MTg3NjE=" target="_blank"><strong>no. 110/2015-Cus (N.T.)</strong> </a> dated 16.11.2015 vide Notification <a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAxMDY=" target="_blank"><strong>No. 90/2016-Customs (N.T.)</strong> </a> dated 24.06.2016. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This amendment has raised, with effect from 24.06.2016, the specific AIRs of Drawback for export of gold jewellery, silver jewellery and silver articles under tariff item numbers 711301, 711302 and 711401, respectively, and specified additional conditions when the AIRs on these items shall not be applicable.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Accordingly, it will be necessary for the exporter claiming these AIRs to make a declaration at the time of export. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The declaration shall be that the goods on which AIR of drawback is claimed under tariff item numbers 711301, 711302 or 711401 are manufactured or exported without availing CENVAT facility for any of the inputs or input services used in their manufacture and without availing the rebate of duty paid on materials used in their manufacture or processing in terms of rule 18 of the Central Excise Rules, 2002 and are not manufactured or exported in terms of sub-rule (2) of rule 19 of the said Central Excise Rules, 2002. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Wherever these revised AIRs of tariff item numbers 711301, 711302 or 711401 are claimed the availability of this declaration shall be ensured and recorded at the Let Export Order stage by the Customs officer. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBEC wants Chief Commissioners to issue suitable public notices/standing orders immediately for guidance of the Trade/field formations. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAxMDc=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBEC Circular No. 30/2016-Customs., Dated: June 24, 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="f5"></a>FTP - Prohibition on import of milk and milk products from China</font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>THE</strong> prohibition on import of milk and milk products (including chocolates and chocolate products and candies/ confectionary/ food preparations with milk or milk solids as an ingredient) from China is effective till 23/06/16 as per the Notification No. 12/2015-2020 dated 24/06/2015. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This prohibition is extended for one more year, i.e., till 23.6.2017 or until further orders, whichever is earlier. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAxMDU=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT Notification No. 12/2015-2020., Dated: June 24, 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="f6"></a>Anti Dumping Duty on Poly Vinyl Chloride Paste Resin </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>GOVERNMENT</strong> has imposed Anti-dumping duty imposed on "Poly Vinyl Chloride Paste Resin” imported from Korea RP (except M/s LG Chemicals and M/s HCC), Taiwan, People's Republic of China, Malaysia & Thailand. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAwOTU=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 27/2016-Customs (ADD)., Dated: June, 23, 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="f7"></a>Grant of reward to informers and Government Servants </font></em></strong></font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>AS</strong> per Para 4.4 of CBEC Circular No.<strong><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MTgzNzI=" target="_blank">20/2015</a></strong> dated 31-07-2015,</font></p>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Government Servants working in other Departments/Agencies such as Police, BSF and Coast Guard etc. may also be considered for sanction of reward in respect of cases of seizures of contraband goods affected by these agencies under the provisions of Customs Act, 1962. However, only such officers of these Departments/Agencies who hold rank equivalent to the Additional Commissioner of Customs & Central Excise or lower rank, will be considered eligible for sanction of rewards in terms of Para 4.2 & 4.3 above . </font></em></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now the Board has amended this para to read as: </font></p>
<p align="justify"><em><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Government Servants working in the other departments/agencies such as Police, Border Security Forces, Coast Guard, etc. may also be considered for sanction of reward in respect of cases of seizures of contraband goods affected by these agencies under the provisions of Customs Act, 1962/ <font color="#FF0000">Narcotic Drugs and Psychotropic Substances Act, 1985 and subsequently booked / investigated by the formations and agencies under CBEC</font>. However, only such officers of these Departments/Agencies who hold rank equivalent to the Additional Commissioner of Customs& Central Excise or lower rank, will be considered eligible for sanction of rewards in terms of Para 4.2 & 4.3 above. </font></em></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAwOTg=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CBEC Circular No. 29/2016., Dated: June, 23, 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="f8"></a>Exchange Rate - Yen </font></em></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>GOVERNMENT</strong> has notified the exchange rate of 100 Japanese Yen as Rs. 69.10 for imports and Rs. 66.85 for exports. It was 65.25 and 63.10 respectively just a week ago. </font></p>
<p align="justify"><a href="http://www.taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=MjAxMDE=" target="_blank"><strong><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Notification No. 89/2016 - Customs (N.T.)., Dated: June, 24, 2016 </font></strong></a></p>
<p><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until Tomorrow with more <strong>DDT</strong></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" target="_blank"><strong>vijaywrite@tiol.in </strong></a></font></p>
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