TIOL-DDT 386 · the untouched capture
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<p align="justify" > <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399" size="3">TIOL-DDT
386</font><br>
16 06 2006<br>
Friday</b></font></p>
<p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Tariff
values – reduced for palm oil – hike in brass scrap</font></b></font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">While
there is a marginal decrease in the tariff values of palm oil, there is a 10%
increase in brass scrap. The old and new tariff values are given below.</font></p>
<div align=center>
<table border=1 cellspacing=0 cellpadding=3 width=450>
<tr>
<td width=50 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>S.No.</strong></font></p></td>
<td width=108 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Chapter
heading or sub-heading</strong></font></p></td>
<td width=246 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Description
of goods</strong></font></p></td>
<td width=73 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Tariff
value<br>
US$<br>
(Per Metric Tonne)</strong></font></p></td>
<td > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>New
tariff values</strong></font></p></td>
</tr>
<tr>
<td width=50 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>(1)</strong></font></p></td>
<td width=108 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>(2)</strong></font></p></td>
<td width=246 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>(3)</strong></font></p></td>
<td width=73 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>(4)</strong></font></p></td>
<td > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>5</strong></font></p></td>
</tr>
<tr>
<td width=50 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1</font></p></td>
<td width=108 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
10 00</font></p></td>
<td width=246 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude
Palm Oil</font></p></td>
<td valign=top > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">430
</font></p></td>
<td valign=top > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">424
</font></p></td>
</tr>
<tr>
<td width=50 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2</font></p></td>
<td width=108 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
90 10</font></p></td>
<td width=246 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBD
Palm Oil</font></p></td>
<td valign=top > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">445
</font></p></td>
<td valign=top > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">439
</font></p></td>
</tr>
<tr>
<td width=50 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3</font></p></td>
<td width=108 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
90 90</font></p></td>
<td width=246 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Others
– Palm Oil</font></p></td>
<td valign=top > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">438
</font></p></td>
<td valign=top > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">432
</font></p></td>
</tr>
<tr>
<td width=50 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4</font></p></td>
<td width=108 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
10 00</font></p></td>
<td width=246 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude
Palmolein</font></p></td>
<td valign=top > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">452
</font></p></td>
<td valign=top > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">446
</font></p></td>
</tr>
<tr>
<td width=50 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5</font></p></td>
<td width=108 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
90 20</font></p></td>
<td width=246 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">RBD
Palmolein</font></p></td>
<td valign=top > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">455
</font></p></td>
<td valign=top > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">449
</font></p></td>
</tr>
<tr>
<td width=50 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6</font></p></td>
<td width=108 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1511
90 90</font></p></td>
<td width=246 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Others
– Palmolein</font></p></td>
<td valign=top > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">454
</font></p></td>
<td valign=top > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">448
</font></p></td>
</tr>
<tr>
<td width=50 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7</font></p></td>
<td width=108 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1507
10 00</font></p></td>
<td width=246 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Crude
Soyabean Oil</font></p></td>
<td valign=top > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">559
</font></p></td>
<td valign=top > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">542
</font></p></td>
</tr>
<tr>
<td width=50 > <p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8</font></p></td>
<td width=108 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7404
00 22</font></p></td>
<td width=246 > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Brass
Scrap (all grades)</font></p></td>
<td valign=top > <p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3255</font></p></td>
<td valign=top > <p align=center ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3576</font></p></td>
</tr>
</table>
</div>
<p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2006/cnt06_062.htm">NOTIFICATION
NO. 62/2006-NT-Cus., Dated: May 31, 2006</a></u></font></p>
<p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Import
of genetically modified products</font></b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As
per condition 18 of the general notes regarding import policy of the Foreign
Trade Policy announced on 7th April, 2006, import of Genetically Modified Food,
Feed, Genetically Modified Organism (GMO) and Living Modified Organism (LMO)
are subject to the following conditions. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
(a) The import of GMOs / LMOs for the purpose of (i) R & D; (ii) Food; (iii)
Feed; (iv) Processing in Bulk and (v) For Environment release will be governed
by the provisions of the Environment Protection Act, 1986 and Rules 1989.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
(b) The import of any Food, Feed, raw or processed or any ingredient of food,
food additives or any food product that contains GM material and is being used
either for Industrial production, Environmental release, or field application
will be allowed only with the approval of the Genetic Engineering Approval Committee
(GEAC).</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
(c) Institutes / Companies who wish to import Genetically Modified material
for R & D purposes will submit their proposal to the Review Committee for
Genetic Modification (RCGM) under the Department of Bio-Technology. In case
the Companies / Institutes use these Genetically Modified material for commercial
purposes, approval of GEAC is also required.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
(d) At the time of import all consignments containing products which have been
subjected to Genetic Modification will carry a declaration stating that the
product is Genetically Modified. In case a consignment does not carry such
a declaration and is later found to contain Genetically Modified material, the
importer is liable to penal action under the Foreign Trade (Development and
Regulation) Act, 1992.</font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Vide
Notification No. 4/2006 dated 04.05.2006, this condition no. 18 has been kept
in abeyance till 07.07.2006. Now, what happens if these products are exported
from other countries prior to 07.07.2006 but reach India after 07.07.2006? Are
the conditions applicable for such imports? DGFT has now clarified that where
the bill of lading is 6th July 2006 or earlier, condition 18 would not apply.
All those who want to import genetically modified products should get them loaded
in the foreign ports before 7th July to avoid the rigours of condition 18. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=46&filename=notification/dgft/2006/dgft06cir009.htm">DGFT
Circular No. 9/2006 dated 13.06.2006</a></u></font></p>
<p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Import
of Generator Sets – Conditions to apply</font></b></font></p>
<p ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The DGFT has amended
Chapter IA-General Notes Regarding Import Policy to add an item no. 20 to specify
that the import of generator sets will be subject to the air emission standards
of the Environment Protection Rules, 1986 notified by Notifications <u><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=uask/environ/amend1.htm">448/2004</a></u>,<a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=uask/environ/rules_notified.htm"> <u>628/2001</u></a><strong> and</strong> <u><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=uask/environ/amend2.htm">682/1999</a></u>. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2006/dgft06not010.htm">Notification
No. 10/2006 dated 13.06.2006</a></u></font></p>
<p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">EPCG</font></b><font color="#006600"><b>
- Import of second hand motor cars/ sports utility vehicles (SUVs) – Conditions
imposed</b></font></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Import
of motor cars, SUVs and all purpose vehicles will be allowed only to hotels,
travel agents, tour operators and companies owning/operating golf resorts and
that too subject to the condition that </font></p>
<div align="justify">
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. The total
foreign exchange earning in the current and previous three years is more than
Rs. 1.5 crores.</font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. The duty saved
from EPCG imports should not exceed 50% of the average earnings of foreign
exchange of the hotel.</font></p>
</div>
<div align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3.
The vehicles should be registered as tourist vehicle and a copy of the registration
certificate should be furnished as confirmation of the vehicle having been imported
and installed. </font></div>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2006/dgft06not011.htm">Notification
No. 11/2006 dated 14.06.2006</a></u></font></p>
<p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Served
From India Scheme – Domestic Procurement</font></b></font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Duty
free credit scrip earned under the Served From India Scheme, can be used for
payment of excise duty for domestic procurement of inputs in terms of the notification
from the Revenue Ministry. Foreign Trade Policy is amended accordingly. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2006/dgft06not012.htm">Notification
No. 12/2006 dated 14.06.2006</a></u></font></p>
<p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">India</font></b><font color="#006600"><b>
China Border Trade – Customary practices prevail over Customs procedures</b></font></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Respecting
the customary practice prevailing in the India China border DGFT has allowed
free import of certain items like wool, salt, horses, butter, silk, etc., and
exports of products like blankets, cycles, coffee, tea, dry fruit, cigarettes,
local herbs, etc. </font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2006/dgft06pn020.htm">DGFT
Public Notice No. 20/2006 dated 13.06.2006</a></u></font></p>
<p align="center" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">In
Pakistan, be a General if you want water</font></b></font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Abid
Sher Ali had, presented a one-line poverty alleviation formula that every mother
in this country should give birth to a general-son to have a prosperous family
with all facilities at her door-step. He is right. It may sound personal but
this is an example of the problems a civilian tax-payer faces. I have a working
family and we jointly pay more than Rs 50,000 income tax per year. But we have
no water at our home (in Rawalpindi cantonment where the devolution of power,
like all cantonments in the country, has not taken place) and we have been spending
Rs 3,000 per month to purchase water for the last six years. And the MES bousers
supply free-of-cost water at the residences of all military ranks day and night.
We, the 150 million civilians, as Aitzaz Ahsen had said in his budget speech,
are not in the focus when our economists make the budget for a national security
state.</font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Rana
Qaisar in the <b>Daily Times</b>, Pakistan - </font><font size="2" face="Verdana, Arial, Helvetica, sans-serif">But
this proves that there is a lot of press freedom in Pakistan. </font></p>
<p align=center ><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Malek's
Law: Any simple idea will be worded in the most complicated way.</b></font></p>
<p ><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until
Monday with more DDT </font></p>
<p ><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have
a nice weekend. </font></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@taxindiaonline.com">vijaywrite@taxindiaonline.com</a></font></p>
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