TIOL-DDT 39 · the untouched capture
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<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-family: Verdana; color: #0000CC">
TIOL-DDT 39</span><span style="font-size: 10.0pt; font-family: Verdana"><br>
25 1 2005</span></b></font></p>
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-size: 10.0pt; font-family: Verdana">
Tuesday </span></b></font></p>
<p class="MsoBodyText"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b> </b></font></p>
<p class="MsoBodyText" align="center" style="text-align: center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
</b></font><b><span style="font-size: 12.0pt; color: green">Anti dumping duty
on </span></b> <span lang="EN-US"><b><span style="font-size: 12.0pt; color: green">Slabstock</span></b></span><b><span lang="EN-US" style="font-size: 12.0pt; color: green">
Polyol confirmed.</span></b></p>
<p class="MsoBodyText"><b><span lang="EN-US"> </span></b></p>
<p class="MsoBodyText"><span lang="EN-US">The provisional Anti-Dumping duty imposed
on Slabstock Polyol ), originating in, or exported from, the People’s Republic
of China, Republic of Korea, Taiwan and Brazil by Notification No.21/2004-Customs,
dated the 20<sup>th</sup> January, 2004 is now confirmed with effect from the
original date of imposition. </span></p>
<p class="MsoBodyText"><b><u><span style="color: blue"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2005/ctariff05_004.htm">Notification
No.<span lang="EN-US"> 4 /2005-CUSTOMS dated 24.1.2005</span></a></span></u></b></p>
<p class="MsoBodyText"> </p>
<p class="MsoBodyText" align="center" style="text-align: center"><b> <span lang="EN-US" style="font-size: 12.0pt; color: green">CBDT
specifies jurisdiction of Certain directors</span></b></p>
<p class="MsoBodyText"><span lang="EN-US"> </span></p>
<p class="MsoBodyText"><span lang="EN-US">Director of Income-tax (Inv.), Ludhiana
will have jurisdiction over the States of Jammu and Kashmir and Punjab and Director
of Income-tax (Inv.), Panchkula will cover State of Haryana and Himachal Pradesh
and Union territory of Chandigarh</span></p>
<p class="MsoBodyText"><span lang="EN-US"> </span></p>
<p class="MsoBodyText"><b><u><span lang="EN-US" style="color: blue"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=35&filename=notification/cbdt/2005/it05not009.htm">CBDT
NOTIFICATION NO 9/2005 Dated : January 20, 2005</a></span></u></b></p>
<p class="MsoBodyText"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span lang="EN-US" style="font-size: 12.0pt; color: green"> </span></b></font></p>
<p class="MsoBodyText" align="center" style="text-align: center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span lang="EN-US" style="font-size: 12.0pt; color: green">E – payment of customs
duty</span></b></font></p>
<p class="MsoBodyText" align="center" style="text-align: center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span lang="EN-US" style="font-size: 12.0pt; color: green"> </span></b></font></p>
<p class="MsoNormal"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana">Indian
Customs will launch a pilot project of E-payment of Customs duty on January
27, at Air Cargo, Bangalore, through the State Bank of India, followed by another
pilot at Air Cargo, Delhi, through the Punjab National Bank. The facility will
be extended to the rest of the country by April 1, 2005 through designated Banks
having internet banking facility. <br>
<br>
</span></font></p>
<p class="MsoNormal" style="text-align: justify"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana"> It
will substantially reduce physical interface between the tax payer and the tax
collector. The users of the e-payment facility need not come to the Customs
office or to the Bank for payment of customs duty but can interact over the
Internet in a secure manner, at the user’s convenience from his home or office.
</span></font></p>
<p class="MsoNormal" align="right" style="text-align: right"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span lang="EN-US" style="font-size: 10.0pt; font-family: Arial; color: black">
<br>
</span> <span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana; color: blue">
>From a PIB release</span></font></p>
<p class="MsoNormal"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana; color: blue">
</span></font></p>
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-size: 10.0pt; font-family: Verdana"> </span></b></font></p>
<p class="MsoBodyText" align="center" style="text-align: center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span lang="EN-US" style="font-size: 12.0pt; color: green">FM LAUNCHES iCERT
PROJECT</span></b></font></p>
<p class="MsoBodyText" align="center" style="text-align: center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b> </b></font></p>
<p align="justify" class="MsoNormal"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana">The
Finance Minister launched the iCERT project, being the first recipient of the
Digital Signature certificate from the certifying Authority, the Directorate
General of Systems in the Customs and Central Excise Department. <br>
<br>
The iCERT will provide Digital Signature Certificates to the Trading Community,
officers of CBEC, and the agencies directly concerned with E-governance in tax
administration to render revenue transactions and related transmissions over
internet secure. <br>
<br>
The iCERT will ensure that Importers, Exporters, Central Excise and Service
tax assesses or their agents, who have obtained the Certificate, have the facility
of electronically filling not only statutory returns but also any type of communications
i.e., requests, grievances, refund claims, adjudication documents, payment advice
to Banks etc. over the internet without any risk to security. The users of this
facility need not come to the Customs or Central Excise offices but interact
over the Internet with competent authorities without any risk of impersonation.
<br>
<br>
The electronic transactions would be authenticated by the digital certificates
and would be legally valid and could be used as evidence under Indian Law. The
Information Technology Act 2000 provides legal recognition to the electronic
records as well as to the process of authentication of electronic records by
affixing digital signatures. <br>
<br>
The iCERT Certifying Authority would be issuing CLASS 3 digital signature certificates
which carry the highest assurance levels necessary for authenticating financial
transactions involving Crores of Rupees of government revenue. <br>
<br>
By using digital signature certificates provided by the iCERT, the trading
community can drastically reduce their compliance cost as well as the compliance
time in carrying out their taxation responsibilities.</span></font></p>
<p class="MsoNormal" align="right" style="text-align: right"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana; color: blue">
>From a PIB release</span></font></p>
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-size: 10.0pt; font-family: Verdana"> </span></b></font></p>
<p class="MsoBodyText" align="center" style="text-align: center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
</b></font><b><span lang="EN-US" style="font-size: 12.0pt; color: green">Government
of India’s debts amount to a staggering 17 lakh crores of rupees.</span></b></p>
<p class="MsoBodyText" align="center" style="text-align: center"><b> <span lang="EN-US" style="font-size: 12.0pt; color: green"> </span></b></p>
<p class="MsoBodyText"><span lang="EN-US">As per the Q3 results of the Government
of India, the Central Government owes over 17 Lakh Crores of rupees. How much
of arrears realization can help in this kind of debts?</span></p>
<p class="MsoBodyText"><span lang="EN-US"> </span></p>
<p class="MsoNormal"> <span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana"> </span></p>
<div align="center">
<table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" width="490" style="border-left-style: none; border-right-style: none; border-top: 1.5pt solid black; border-bottom: 1.5pt solid black; background-color: white" fpstyle="26,011111100">
<tr style="height: 15.0pt">
<td width="386" nowrap valign="bottom" style="font-weight: bold; color: navy; border-left-style: none; border-right-style: none; border-top-style: none; border-bottom: 1.5pt solid black; background-color: white">
<p class="MsoNormal"><b> <span style="font-size: 10.0pt; font-family: Verdana">Total-Internal
debt</span></b></td>
<td width="104" nowrap valign="bottom" style="font-weight: bold; color: navy; border-left-style: none; border-right-style: none; border-top-style: none; border-bottom: 1.5pt solid black; background-color: white">
<p class="MsoNormal" align="right" style="text-align: right"><b> <span style="font-size: 10.0pt; font-family: Verdana">12,27,629</span></b></td>
</tr>
<tr style="height: 15.0pt">
<td width="386" nowrap valign="bottom" style="font-weight: normal; color: black; border-left-style: none; border-right-style: none; border-top-style: none; border-bottom: .75pt solid black; background-color: white">
<p class="MsoNormal"><b> <span style="font-size: 10.0pt; font-family: Verdana">External
debt</span></b></td>
<td width="104" nowrap valign="bottom" style="font-weight: normal; color: black; border-left-style: none; border-right-style: none; border-top-style: none; border-bottom: .75pt solid black; background-color: white">
<p class="MsoNormal" align="right" style="text-align: right"><b> <span style="font-size: 10.0pt; font-family: Verdana">1,91,426</span></b></td>
</tr>
<tr style="height: 15.0pt">
<td width="386" nowrap valign="bottom" style="font-weight: normal; color: black; border-left-style: none; border-right-style: none; border-top-style: none; border-bottom: .75pt solid black; background-color: white">
<p class="MsoNormal"><b> <span style="font-size: 10.0pt; font-family: Verdana">Total
Public debt</span></b></td>
<td width="104" nowrap valign="bottom" style="font-weight: normal; color: black; border-left-style: none; border-right-style: none; border-top-style: none; border-bottom: .75pt solid black; background-color: white">
<p class="MsoNormal" align="right" style="text-align: right"><b> <span style="font-size: 10.0pt; font-family: Verdana">14,19,056</span></b></td>
</tr>
<tr style="height: 15.0pt">
<td width="386" nowrap valign="bottom" style="font-weight: normal; color: black; border-left-style: none; border-right-style: none; border-top-style: none; border-bottom: .75pt solid black; background-color: white">
<p class="MsoNormal"><b> <span style="font-size: 10.0pt; font-family: Verdana">Other
liabilities</span></b></td>
<td width="104" nowrap valign="bottom" style="font-weight: normal; color: black; border-left-style: none; border-right-style: none; border-top-style: none; border-bottom: .75pt solid black; background-color: white">
<p class="MsoNormal" align="right" style="text-align: right"><b> <span style="font-size: 10.0pt; font-family: Verdana">3,54,426</span></b></td>
</tr>
<tr style="height: 15.0pt">
<td width="386" nowrap valign="bottom" style="font-weight: normal; color: black; border-left-style: none; border-right-style: none; border-top-style: none; border-bottom: .75pt solid black; background-color: white">
<p class="MsoNormal"><b> <span style="font-size: 10.0pt; font-family: Verdana; color: red">TOTAL
DEBT</span></b></td>
<td width="104" nowrap valign="bottom" style="font-weight: normal; color: black; border-left-style: none; border-right-style: none; border-top-style: none; border-bottom: .75pt solid black; background-color: white">
<p class="MsoNormal" align="right" style="text-align: right"><b> <span style="font-size: 10.0pt; font-family: Verdana; color: red">
17,73,482</span></b></td>
</tr>
</table>
</div>
<p class="MsoNormal"><b><span style="font-size: 10.0pt; font-family: Verdana"> </span></b></p>
<p class="MsoNormal"><span style="font-size: 10.0pt; font-family: Verdana"> Source:<a href="http://finmin.nic.in/stats_data/central_govt_borrowings/data_31_12_2004.htm" style="color: blue; text-decoration: underline; text-underline: single">http://finmin.nic.in/stats_data/central_govt_borrowings/data_31_12_2004.htm</a>
</span></p>
<p class="MsoBodyText" align="center" style="text-align: center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span style="font-size: 10.0pt; font-family: Verdana">
</span></font></p>
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-size: 10.0pt; font-family: Verdana"> </span></b></font></p>
<p class="MsoBodyText" align="center" style="text-align: center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span lang="EN-US" style="font-size: 12.0pt; color: green">Tomorrow is International
Customs day </span></b></font></p>
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><span style="font-size: 10.0pt; font-family: Verdana"> </span></b></font></p>
<p class="MsoNormal"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana">To
commemorate the 1st Session of the Customs Cooperation Council held on January
26<sup>th</sup>, 1953, January 26<sup>th</sup> was declared as<font color="#0000FF">
International Customs Day</font>. The WCO has designated <b><span style="color: blue">Customs
and commercial fraud</span></b> as the theme of the year for 2005.<br>
</span></font></p>
<p class="MsoNormal"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana">As
January 26<sup>th</sup> happens to be a holiday in India, most of the Custom
Houses will be celebrating Customs Day on 25<sup>th</sup> January. On this day
let us remember that our Customs officers do valuable work, perform an important
public service and their efforts are appreciated</span><span lang="EN-US">.
<b>TIOL greets all the Customs officers on the occasion.</b></span></font></p>
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana; color: red"> </span></b></font></p>
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana; color: red">
Until tomorrow with more of DDT</span></b></font></p>
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana; color: red">
<br>
Have a Nice Day</span></b></font></p>
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana; color: red"> </span></b></font></p>
<p class="MsoNormal"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>
<span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana; color: red">
Mail your comments to <a href="mailto:vijaywrite@taxindiaonline.com" style="color: blue; text-decoration: underline; text-underline: single">
vijaywrite@taxindiaonline.com</a> </span></b></font></p>
<p class="MsoNormal"> <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><span lang="EN-US" style="font-size: 10.0pt; font-family: Verdana"> </span></font></p>
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