Subject

Exemption to several goods

Effective rate of duty for several goods

general exemption effective rates

Effective rates of duty and exemption

Exemption and effective rates – certain exemptions withdrawn- amends Notification No. 3/2005

Amendment to Notification. 8/2003 – SSI exemption – goods which became liable for excise duty from 1^st March 2006, will be eligible for exemption in March 2006 for a clearance of Rs. 10Lakhs.

Exemption of goods from SED – all goods under the second schedule are exempted.

Effective rate for certain goods – supersedes Notification 10/2003

Exempts all goods from AED(GSI)

Amends Notification No. 49/2003 to align with the 8 digit tariff

Amends Notification No. 50/2003 to align with the 8 digit tariff

Amends Notification No. 29/2004 - textiles

Amends Notification No. 30/2004 - textiles

Amends Notification No. 46/2003 - NCCD

Amends Notification No. 53/2003 - NCCD

Amends Notification No. 10/1996 to align with the 8 digit tariff

Amends Notification No. 221/1986 to align with the 8 digit tariff

Amends several Notification to align with the 8 digit tariff

Rescinds several notifications. For details please see next table.

Amends Notification No. 23/2003 – EOU – DTA clearances – beginning of another round of confusion?

Details

Exemption to certain sectors like tanning , cashew , coir etc,

Exemption to durable containers – was redundant for the last six years.

Exemption to goods produced in EOUs????

Goods cleared for display in exhibitions

Effective rate for pan masala

The all encompassing largest notification is gone – replaced of course by four notifications

Effective rate for tobacco substitutes

AED(GSI) exemption

SED exemption

AED and SED exemption

SED exemption

Notification No.

Subject

2/06

MRP and abatement list

3/06

Tariff Value for pan masala

Subject

Abatement in value for certain specified services

Several exemption notifications rescinded, mainly

1. Exemption Notification No.59/98 withdrawn - all taxable services of chartered account in his professional capacity are now taxable.

2. Call centres and medical transcription centres are under tax net under Business Auxiliary Services. Notificn 8/2003 is withdrawn

3. Enterprise Resource Planning services provided by management consultants are taxable. – Notification 16/2004 rescinded.

4. Catering services provided by outdoor caterer in railway train are taxable – 19/04 withdrawn.

5. Out door catering done in academic or medical institutions are now taxable – 21/04 rescinded.

3/94 amended – premium from re insurance taxable

Exemption to interest - leasing

Amends Service Tax Rules –

1. registration – change in information to be furnished to Assistant Commissioner

2. Registration certificate to be surrendered to Superintendent, who will ascertain that there are no dues and then will cancel the certificate

3. Records to be preserved for five years

4. Records to be made available for inspection by officers.

Testing of water quality by government laboratories exempted.

Services provided by RBI exempted. Obviously RBI was not exempted all these days. A good opportunity for the DGST to summon the RBI Governor and make him pay up the old dues. As only 30 days are left in the fiscal, the Service Tax department should pounce upon RBI immediately. May be we can see a fiscal tussle.

Subject

Rescinds Notification No. 75/2004 dated 26-7-2004 – Regarding computers (Additional Duty Rules, 2004)

Appoints 1/3/2006 as the date for Section 133 of the Finance Act, 2003 coming in to force. Under this Section the tariff rates for edible oils and vegetable products was to be increased from 30% to 100% this was kept under hold for the last three years and now the rates are 100% from today.

Amendment of Notification. 21/02 – General exemption – Several duties reduced.

Amends Notification No. 27/04 – Exemption to goods imported for manufacture of goods

Reduces the peak rates of duty on most goods to 12.5%

Supersedes Notification 14/05. The duties on fabrics under chapter 52 to 58 were 15% or a specific rate whichever was higher. Now it is 12.5% or a specific rate.

Effective rate of duties of standard and preferential rate. Notification No. 15/05 amended. Standard rate reduced to 12.5% from 15%.

Amendment to Notification No. 69/2004 – Exemption to education cess for certain textile items – Withdrawn

Project import regulations amended to include pipe line projects for the transportation crude oil, petroleum products or natural gas.

Amends Notification No. 42/96 – To include pipe line projects for the transportation crude oil, petroleum products or natural gas under project imports

Supersedes Notification No. 19/05, dated 1-3-2005 – 4% Additional duty of Customs on all imported goods.

Exempts certain goods from the 4% Additional duty