TIOL-DDT 407 · the untouched capture
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<p > <font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399" size="3">TIOL-DDT
407</font><br>
17 07 2006<br>
Monday</b></font></p>
<p align=center ><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>The
paper chase</strong></font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
dead are gone, but the survivors have to struggle. The bureaucratic procedural
maze really does not leave any luxury of mourning for a wife who had lost her
partner in a tragedy like the Mumbai blast. Will the office give her the pension
and other dues on time or will they get stuck with “audit” objections? For a
dispute between two offices on an amount of Rs. 1500/- they had held up more
than Rs 3 Lakhs of my dues. I told them to deduct that Rs. 1500 and give me
the balance. They said there was no such provision. Finally only the threat
of dragging them to court and claiming interest quickened the process. And this
happened to somebody who had just left the department. What will be the plight
of widows doing the rounds in our offices to claim their dues? Will somebody
help them? Today we are carrying an article that I wrote more than twenty years
ago on the travails of an unfortunate widow. Nothing seems to have changed.
See the <b><u><a href="http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=3988">paper
chase</a></u></b> </font></p>
<p align=center ><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Why
do we replace one form by five? Law Minister </strong></font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Law
and Justice Minister Hans Raj Bhardwaj noted how efforts to simplify often end
in replacing a form by five new forms. He was inaugurating a new court room
in the ITAT. Or was he taking a dig at his famous colleague, the FM?</font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
ITAT was set up 65 years ago in 1941. The Income-Tax Appellate Tribunal is one
of the oldest temples of justice in our country. It is said that the older the
temple, the greater is its sanctity and reverence.</font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
first President of the Tribunal Mohammad Munir went on to become the Chief Justice
of Pakistan and under his famous Doctrine of Necessity stamped the seal of approval
on Governor General Ghulam Mohammad's action to dissolve the first Constitutional
Assembly of Pakistan.</font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
President in 1941 used to get a basic pay of Rs. 3000/- per month. On an annual
increase of 6%, that basic pay should be now more than Rs. 1, 30,000/- pm. Maybe
the judges do deserve this kind of salaries at least to keep them away from
temptations and to give them a decent life style. </font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Coming
back to the present day, ITAT President Vimal Gandhi said that ITAT has reduced
pendency of cases from "around three lakhs in 1998 to 1,03,000 as on 30th
June 2005. </font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
Delhi Chief Commissioner who was also present had a grouse; Tax collection was
10% of the GDP in 1991, now it is 10.5%. </font></p>
<p align=center ><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Drawback
Rules amended – Service Tax included</strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Even
the name changed: It is now the </strong><i>Customs, Central Excise Duties and
Service Tax Drawback Rules, 1995.</i></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Service
Tax included – consequential changes: </b>In determining the drawback rates,
now Service Tax will also be factored. Necessary changes are made in the rules.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Manufacturer
can claim drawback</b> – need not be manufacturer exporter. The words, ‘manufacturer
exporter’ have been replaced with <i>manufacturer</i>. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Recovery
of drawback – Time limit reduced to thirty days: </b>If export proceeds are
not realized within the stipulated period, the exporter is required to repay
the drawback amount within sixty days of the receipt of the order from the Assistant
Commissioner. Now this period is reduced to thirty days.</font></p>
<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_080.htm">Notification.
No.80/2006-CUSTOMS (N.T.) dated 13<sup>th</sup> July, 2006</a></u></font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Other
details of the drawback rates have been extensively covered by TIOL, so DDT
is not repeating them. </font></p>
<p align=center ><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Target
Plus Scheme - export turnover limit reduced</strong></font></p>
<p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As
per the policy, All Star Export Houses which have achieved a minimum export
turnover in free foreign exchange of Rs <b>10 crores</b> in the previous licencing
year were eligible for consideration under the Target Plus Scheme. Now this
is reduced to Rs. 5 Crores. </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/dgft06not020.htm">NOTIFICATION
No. 20(RE 2006)/2004-2009 Dated: July 13,2006</a></u></font></p>
<p align="justify" ><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Until
Tomorrow with more DDT </font></p>
<p align="justify" ><font color="#FF6666" size="2" face="Verdana, Arial, Helvetica, sans-serif">Have
a nice day. </font></p>
<p align="justify" ><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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