TIOL-DDT 291 · 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="#996699" size="3">TIOL-DDT 291</font><br> 27 01 2006<br> Friday</b></font></p> <p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Exemption to SAMYUKTA Programme of the Ministry of Defence – another dead notification revived</b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As per Notification No. 64/95 Central Excise, DATED : March 16, 1995, ( Sl No. 18 of the table) goods supplied to the Programme SAMYUKTA under the Ministry of Defence are exempted from excise duty.<br> <br> Similarly Machinery, equipment, instruments, components, spares, jigs and fixtures, dies, tools, accessories, computer software, raw materials and consumables required for the purpose of SAMYUKTA Programme of the Ministry of Defence, when imported are exempted from Customs duties as per NOTIFICATION NO. 39/1996-Customs, DATED : July 23, 1996 (Sl. No. 17 of the table)<br> <br> However there is a small problem. Both these exemptions were valid only till 1st December 2005. And our good Board as usual forgot about this notification. And so they went into history on 1st December 2005, but defence projects cannot simply go into oblivion. The Board obviously realised this a little late and now the validity of these notifications are extended up to 1st June 2006.<br> <br> What happens to the clearances/imports from 1st December 2005 to 24th January 2006? Audit Notes, Show Cause Notices and litigation? One such case actually went right up to the Supreme Court.<br> <br> Can’t the Board have a simple mechanism to monitor the sun set notifications?</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2006/ctariff06_005.htm">NOTIFICATION NO. 5/2006-Cus.</a>, Dated: January 24, 2006 and <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=30&filename=notification/excise/2006/etariff06_001.htm">NOTIFICATION NO. 1/2006-Central Excise, Dated: January 24, 2006</a></font></p> <p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Duty Free Import of spices only for value addition - minimum value addition to be 15%</b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">DGFT has amended the Policy and the Handbook Of Procedure to prescribe that for Advance Licence</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++ duty free import of spices ( covered by chapter 9 of the ITC (HS) Classifications of Export & Import Items, 2004-09 for export under advance licence scheme shall be permitted only for value addition purposes like crushing/grounding/sterilization or for manufacture of oils and oleoresins and not for simple cleaning, grading, re-packing etc,.<br> <br> ++ the export obligation shall be fulfilled within a period of 90 days from the date of receipt of the first import consignment i.e. the date on which the first import consignment is cleared by the customs authorities against the licence;<br> <br> ++ A minimum value addition of 15% shall have to be fulfilled;<br> <br> <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2005/dgft05not041.htm">DGFT NOTIFICATION NO. 41(RE-2005)/2004-2009,</a> Dated: January 23, 2006 and <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2005/dgft05pn084.htm">PUBLIC NOTICE NO. 84 /(RE-2005)/2004-2009,</a> Dated: January 23, 2006</font></p> <p align="center"><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b>Greek and Latin - DDT's new feature</b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Today’s phrase: <font color="#663399"><b>Amicus curiae</b></font></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A "friend of the court". When an important or difficult point is being argued but one part of the argument is inadequately represented (perhaps because a party is not interested in arguing it, or does not have the resources to argue it properly), the Court may appoint an Amicus curiae, to ensure that that part of the argument is sufficiently explored and is fully argued independently of the party upon whom the burden of that argument would ordinarily fall. One, who informs the court when a judge is doubtful or mistaken in a matter of law.<br> <br> <b><font color="#FF6666">Until Monday with more DDT<br> <br> Have a nice Weekend.<br> <br> Mail your comments to</font></b> <a href="vijaywrite@taxindiaonline.com">vijaywrite@taxindiaonline.com </a></font></p> </body> </html>