TIOL-DDT 35 · the untouched capture
Rendered as it looked. Links and images are disabled in this view; the file itself is untouched.
<html>
<head>
<title>Untitled Document</title>
<meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1">
</head>
<body bgcolor="#FFFFFF">
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-family: Verdana; color: #0000CC"><font size="3">TIOL-DDT
35</font></span><span style="font-size: 10.0pt; font-family: Verdana"><br>
19 1 2005<br>
Wednesday</span></b></font></p>
<p class="MsoNormal" align="center" style="text-align: center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="color: green">The
March Syndrome is here; Service Tax for March to be paid by </span><span style="color: green">
March 31</span></b></font></p>
<p align="justify" class="MsoBodyText"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">March
is a very serious month for Revenue officials. The all-elusive target has to
be somehow met by hook or crook or by robbing from next year’s revenue. One
way to artificially boost up this year’s revenue is to show next year’s revenue
in this year. But what will happen next year. Why this farcical manipulation?
This year IS most important. Next year I may not be here. Let my successor face
the problem!. The whole ridiculous cycle does not really help any one but is
religiously continued. </font></p>
<p align="justify" class="MsoBodyText"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now
for Service Tax too, the tax for the month of March has to be paid by 31<sup>st</sup>
March. The Service Tax assessees actually have time up to 25<sup>th</sup> April
to pay the tax, but the Rules have been amended so that 25<sup>th</sup> day
is okay for other months, not March!. In the month, assessees will now end up
paying Service Tax for February on March 25<sup>th</sup> and for March on 31<sup>st</sup>
March. Two months tax in a week! This will help the Government get a little
more tax in this year’s account but what will happen next year? It is said that
<b><span style="color: #993366">the politician targets the next election but
statesman the next generation. </span></b>And the bureaucrat? <b><span style="color: #993366">His
target is this year’s target!</span></b></font></p>
<p align="justify" class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><u>
<span style="font-size: 10.0pt; font-family: Verdana; color: blue"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=40&filename=notification/servicetax/2005/stnot05_01.htm">NOTIFICATION
No. 01/2005- Service Tax dated 14.1.2005.</a></span></u></b></font></p>
<p align="justify" style="text-align: justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>
<span style="font-family: Verdana; color: #006633">DGFT makes major amendments
</span></strong><b><span style="font-family: Verdana; color: #006633">Handbook
of Procedures (Vol. I)</span></b></font></p>
<p align="justify" style="text-align: justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">The
highlights of the amendments are- </span></font></p>
<p align="justify" style="text-align: justify; text-indent: -.25in; margin-left: .5in">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">1.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">
</span>The Bank guarantee to be executed under para 2.20 for Advance Licence
and EPCG included a 15% interest on the excise duty and education cess saved.
Now this 15% interest clause is deleted. </span></font></p>
<p align="justify" style="text-align: justify; text-indent: -.25in; margin-left: .5in">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">2.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">
</span>DGFT in association with the Administrative Ministries/Departments and
the Trade Associations will organize Industry Outreach Programme on regular
basis for an effective awareness among the exporters/importers dealing with
the trade, in particular, in </span><b><span style="font-family: Verdana">SCOMET</span></b><span style="font-family: Verdana">
items. ( what is SCOMET? See the end of today’s DDT)</span></font></p>
<p align="justify" style="text-align: justify; text-indent: -.25in; margin-left: .5in">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">3.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">
</span>Exports made against the Government of India/EXIM Bank Line of Credit
would be entitled for benefits under the Advance Licence Scheme. Further, exports
made under Deferred Payment/Suppliers Line of Credit Contract backed by ECGC
Cover would also be entitled for the benefit under the Scheme.</span></font></p>
<p align="justify" style="text-align: justify; text-indent: -.25in; margin-left: .5in">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">4.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">
</span>Items reserved for imports by State Trading Enterprises cannot be imported
against advance licence. However those items can be procured from State Trading
Enterprises against ARO issued to advance licence holder. </span></font></p>
<p align="justify" style="text-align: justify; text-indent: -.25in; margin-left: .5in">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">5.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">
</span>An application for amendment of an export item or inputs under SION or
under Adhoc Norms may be filed by any manufacturer or merchant exporter as per
Appendix 10J of the Handbook (Vol. I). The applicant would give the justification
for seeking the amendment and the same would be considered by the Regional Office
with the specific approval of the head of the Office.</span></font></p>
<p align="justify" style="text-align: justify; text-indent: -.25in; margin-left: .5in">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">6.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">
</span>licensee holding an advance licence for Physical export has an option
either to export directly or to supply the product to EOU/ EHTP/STP/BTP units.
Similarly a licensee holding an advance licence for deemed export (for supply
to EOU/ EHTP/STP/ BTP units only) has an option either to supply to EOU/ EHTP/STP/
BTP units or export directly</span></font></p>
<p align="justify" style="text-align: justify; text-indent: -.25in; margin-left: .5in">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">7.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">
</span>Exports made against the Government of India/EXIM Bank Line of Credit
and exports made under Deferred Payment/Suppliers. Line of Credit Contract backed
by ECGC Cover would also be entitled for the benefit under DFRC Scheme.</span></font></p>
<p align="justify" style="text-indent: -.25in; margin-left: .5in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">8.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">
</span>If the licence issued under the scheme has actually been utilized for
import in excess up to 10% of the CIF value/Duty saved amount of the licence,
licence shall be deemed to have been enhanced by that proportion. The Customs
shall automatically allow the clearance of goods in excess up to 10% of the
licence value/Duty saved amount, as the case may be, without endorsement by
the licensing authority. In such cases, the licence holder shall furnish additional
fee to cover the excess imports effected in terms of CIF value/Duty saved amount
subsequently. The export obligation shall automatically stand enhanced proportionately.</span></font></p>
<p align="justify" style="text-indent: -.25in; margin-left: .5in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">9.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">
</span>FOB actually realized and date of realization of export proceeds are
to be given in all cases except where consignment has been sent against confirmed
irrevocable letter of credit or exports made against the Government of India/EXIM
Bank Line of Credit or exports made under Deferred Payment/Suppliers Line of
Credit Contract backed by ECGC Cover. An endorsement to that effect need to
be endorsed in BRC</span></font></p>
<p align="justify" style="text-indent: -.25in; margin-left: .5in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">10.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7.0pt; font-family: Times New Roman">
</span>Three more Agri Export Zones added. They are </span></font></p>
<div align="justify">
<table class="MsoNormalTable" border="1" cellspacing="0" cellpadding="0">
<tr>
<td width="53" valign="top" style="width: 39.4pt; padding: 0in"> <p align="center" style="text-align: center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>
<span style="font-family: Verdana">Sl. No.</span></strong></font></td>
<td width="136" valign="top" style="width: 102.2pt; padding: 0in"> <h3 align="center" style="text-align: center">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-size: 10.0pt; font-family: Verdana">Product</span></font></h3></td>
<td width="139" valign="top" style="width: 104.55pt; padding: 0in"> <h4 align="center" style="text-align: center">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-size: 10.0pt; font-family: Verdana">State</span></font></h4></td>
<td width="250" valign="top" style="width: 187.35pt; padding: 0in"> <h4 align="center" style="text-align: center">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-size: 10.0pt; font-family: Verdana">Districts
covered</span></font></h4></td>
</tr>
<tr>
<td width="53" valign="top" style="width: 39.4pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">55.</span></font></td>
<td width="136" valign="top" style="width: 102.2pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">Vanila</span></font></td>
<td width="139" valign="top" style="width: 104.55pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">Karnataka</span></font></td>
<td width="250" style="width: 187.35pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">Districts
of Dakshin Kannada, Uttara Kannada, Udupi, Shimoga, Kodagu, Chickamagalur</span></font></td>
</tr>
<tr>
<td width="53" valign="top" style="width: 39.4pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">56.</span></font></td>
<td width="136" valign="top" style="width: 102.2pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">Chilli</span></font></td>
<td width="139" valign="top" style="width: 104.55pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">Andhra
Pradesh</span></font></td>
<td width="250" style="width: 187.35pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">Guntur
District</span></font></td>
</tr>
<tr>
<td width="53" valign="top" style="width: 39.4pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">57</span></font></td>
<td width="136" valign="top" style="width: 102.2pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">Pedicinal</span></font></td>
<td width="139" valign="top" style="width: 104.55pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">Kerala</span></font></td>
<td width="250" style="width: 187.35pt; padding: 0in"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">Districts
of Wayanand, Mallapuram, Palakkad, Thrissur, Idduki, Pathanamthitta, Kollam,
Thiruvananthapuram and Ernakulam</span></font></td>
</tr>
</table>
</div>
<p align="justify" class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><u>
<span style="text-decoration: none; font-size: 10.0pt; color: blue"> </span></u></b></font></p>
<p align="justify" class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><u><span style="font-size: 10.0pt; color: blue"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2004/dgft04pub045.htm">PUBLIC
NOTICE NO 45/ 2004-09, Dated January 14, 2005</a></span></u></b></font></p>
<p align="justify" style="text-align: justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>
<span style="font-family: Verdana; color: #006633">Export Obligation Period
against Import of Penicillin and its salts- DGFT withdraws Circular.</span></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-family: Verdana">As
per Circular No. 7/2004, the export obligation period is three months. This
circular is now withdrawn, which means that the period will now be six months
as per Public Notice No. 6/2004.</span></font></p>
<p align="justify" class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><u><span style="font-size: 10.0pt; color: blue"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=46&filename=notification/dgft/2004/dgft04cir015.htm">Policy
Circular No. 15 /2004-2009 Dated: 17th January, 2005 </a></span></u></b></font></p>
<p align="justify" class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span style="font-size: 10.0pt; font-family: Verdana; color: red"> </span></b></font></p>
<div align="justify" style="mso-border-alt: solid windowtext .5pt; border: 1.0pt solid windowtext; padding-left: 4.0pt; padding-right: 4.0pt; padding-top: 1.0pt; padding-bottom: 1.0pt">
<p class="MsoNormal" align="justify" style="text-align: center; border: medium none; padding: 0in">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-family: Verdana; color: purple">SCOMET</span></b></font></p>
<p class="MsoNormal" align="justify" style="text-align: center; border: medium none; padding: 0in">
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-family: Verdana; color: purple"> </span></b></font></p>
<p align="justify" class="MsoNormal" style="border: medium none; padding: 0in"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span style="font-family: Verdana; color: purple"> </span><span lang="EN-US" style="font-size: 9.0pt; font-family: Verdana; color: purple">SPECIAL
CHEMICALS, ORGANISMS, MATERIALS, EQUIPMENTS AND TECHNOLOGIES</span></b></font></div>
<p align="justify" class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-size: 9.0pt; font-family: Verdana"> </span></b></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-size: 10.0pt; font-family: Verdana; color: red">Until
tomorrow with more of DDT</span></b></font></p>
<p align="justify" class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span style="font-size: 10.0pt; font-family: Verdana; color: red">Have a Nice
Day</span></b></font></p>
</body>
</html>