TIOL-DDT 44 · 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><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b><font color="#0000FF" size="3">TIOL-DDT 44</font><br> 1 2 2005<br> Tuesday</b></font></p> <p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>The ITC Story : Is plagiarism the best form of flattery?</b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b>IF</b> plagiarism is the best form of flattery, we, in Taxindiaonline, are highly flattered. When we broke the ITC Ordinance story yesterday morning, not a single news agency in the country had the news, not the 24 hour news channels, not the pink papers, not the news sites, simply nobody had it. After hours of our uploading the story, many others started picking up our story and carrying them as theirs and of course adding their own masala. A famous business news channel reported that the Ordinance was issued on 31st January, while it was actually issued on 25th January. Not a single agency except <font color="#0000FF"><b>www.rediff.com</b></font> and <b><font color="#0000FF">www.indiainfoline.com</font></b> acknowledged the source to us. And believe us, we sat on the ordinance for three whole days!. We were ready to carry ITC’s viewpoint too but they chose to be silent. We promise to continue to bring you the law as it happens with comments from the best experts in the field. We hope the Government would correct the minor mistakes we had pointed out in the Ordinance, lest that should lead into another protracted litigation. <br> <br> <b>Cenvat Credit Rules 2004 amended </b><br> <br> The Cenvat Credit Rules, 2004 amended to include an item No. vii, to the list under Rule 6(6) to exclude the bar of separate accounts or payment of 10% while clearing exempted goods supplied against International Competitive Bidding. There has been some confusion about these clearances which are deemed as exports and for which the DGFT was not too willing to grant refund of Terminal Excise Duty. Now manufacturers can take credit and need not pay any duty or amount while clearing to these projects. - <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=30&filename=notification/excise/2005/ent003_2005.htm">NOTIFICATION No. 3 /2005-Central Excise (N.T.) dated 28.1.2005</a><br> <br> <b>Tariff Value on Brass Scrap reduced</b><br> <br> Tariff value for imported brass scrap is reduced from 1576 to 1461 US Dollars. Notification No.36/2001-Cus (N.T.), amended by <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2005/cnt05_011.htm">Notification No. 11/2005 – Cus NT dated 31.1.2005</a><br> <br> <b>Anti Dumping Duty on lead acid batteries originating in or exported from Chinese Taipei, Hong Kong and Singapore discontinued.</b><br> <br> Government had earlier by notification No. 1/2005- Cus dated 4.1.2005 revoked the anti dumping duty on the batteries originating in or exported from Chinese Taipei, Hong Kong and Singapore. Now notification No. 63/2003-Customs dated the 2nd April 2003 is rescinded by <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2005/ctariff05_006.htm">Notification No. 6/2005 – cus dated 27.1.2005</a>.<br> <br> <b>Last date for abolition of ECOM password extended</b><br> <br> By PN No. 13/2004 dated 31/12/2004, the DGFT had informed that ECOM password system will be abolished from 31.1.2005 and applicants had to digitally sign in. Now this is postponed for two months unlike a month, in previous postponements - <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=46&filename=notification/dgft/2004/dgft04cir017.htm">Policy Circular No. 17/2004-2009 dated:31st January, 2005.<br> </a><br> <b>DGFT notifies ceiling for export of stone and sand to Maldives</b><br> <br> As per the Export Policy, export of sand and soil falling under Chapter 25 is restricted. However export to Maldives was permitted for the year 2004-05 subject to a ceiling. Now the policy is amended to fix the ceiling for 2005-06. There is actually no change in the quantity of sand and stone allowed to be exported; only the year is changed. – <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2004/dgft04not020.htm">DGFT NOTIFICATION NO. 20 /(2004-2009), Dated: January 28, 2005.</a><br> <br> <b>Supreme Court’s pat for a Commissioner’s order</b><br> <br> While adjudication orders passed by our officers leave much to be desired, to say the least, DDT is happy to report that an order of a Commissioner had received the approval of the Apex Court as a well reasoned order. It is really exhilarating to know that we still have officers who can and do pass reasoned orders. Incidentally in this case the Supreme Court remanded the case back to the Commissioner but the fact remains that the Apex court noticed that the order was a well reasoned one. We need more such officers. TIOL is carrying that judgement today. Please see <b><font size="1" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=32&filename=legal/sc/2005/2005-TIOL-12-SC-CX-LB.htm">2005-TIOL-12-SC-CX-LB</a></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"></font></b>. <br> <br> <font color="#0000FF"><b>In any human enterprise, work seeks the lowest hierarchical level.</b></font><br> <br> <font color="#FF0000"><b>Until tomorrow with more of DDT<br> <br> Have a Nice Day<br> <br> Mail your comments to</b></font> <b>vijaywrite@taxindiaonline.com </b></font> </p> </body> </html>