TIOL-DDT 471 · the untouched capture
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<html> <head> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <title>Taxindiaonline's DDT 402</title> </head> <body > <p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399" size="3">TIOL-DDT 471</font><br> 17 10 2006<br> Tuesday</b></font></p> <p align=center ><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Exemption to goods cleared under “served from India” – Capital goods allowed</b></font></p> <p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Under Notification No. 34/2006 – CE,<strong> </strong>office equipment, professional equipment, office furniture and consumables, related to its service sector business and food items and alcoholic beverages cleared to a certificate holder hotel or stand alone restaurant, are exempted. Now Capital goods including spares are also allowed under this exemption. This is apparently a mistake which is now corrected, as this facility is already available for service providers other than hotels. </font></p> <p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=30&filename=notification/excise/2006/etariff06_041.htm">NOTIFICATION No. 41/2006-Central Excise, Dated: October 13, 2006</a></font></p> <p align=center ><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Tariff value for brass scrap decreased</strong></font></p> <p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tariff value for brass scrap has been decreased from 4826 to 4492 US Dollars. There is no change in the Tariff Values of other items. </font></p> <p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2006/cnt06_109.htm">NOTIFICATION No.109/2006-CUSTOMS (N.T.), Dated: October 16, 2006</a></font></p> <p align=center ><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>IT returns in Gujarat – last date extended</strong></font></p> <p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Keeping in view the disruption caused due to heavy rains / floods in large parts of the State of Gujarat, the Central Board of Direct Taxes have extended the last date of filing Income Tax returns and Tax Audit reports in the State from 31st October 2006 to 31st December 2006. All tax payers who were required to file their Income Tax returns by 31st October 2006, and all tax payers who were required to file their Tax Audit reports u/s 44AB of the Income Tax Act, 1961 can now file their returns / audit reports by 31st December 2006. </font></p> <p align=center ><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>The Law does catch up</strong></font></p> <p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">He hired three elephants to smuggle himself into the USof A from Mexico through the<strong> </strong>Rio Grande. He was not really a smuggler but wanted to prove a point that it was easy to enter the US through the river. But it didn’t work. A US Agriculture Department patrol team caught up with the acting smugglers and promptly detained them. The brain behind the drama, an Indian born congressional candidate Raj Bhakta had to spend a few hours with the US Customs because he had not carried his papers during his swimming expedition. The Kinston Free Press reported today, “In the end it appears that the system worked. Even though the only physical barrier on the border is the river, Bhakta and his group were stopped by government officials. The undocumented immigrant was detained — in this case Bhakta himself — until he could prove he was in this country legally.”</font></p> <p align=center ><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Nobel missed Gandhi</strong></font></p> <p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Gandhi could do without a Nobel Prize but certainly the prize could not do without Gandhi and this lapse would be a permanent blot on the prestigious prize. The Nobel Committee has now acknowledged its lapse. Though Gandhi was nominated for the prize on several occasions, perhaps the prevailing British dominated politics must have prevented the committee from choosing Gandhi. Of course they made an announcement in 1948 that there was no living person worthy of the award during that year – the only who could have enhanced the stature of the award by receiving it died that year. </font></p> <p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Interestingly it was on this day in 1979 that Mother Theresa was awarded the Nobel Prize.</font></p> <p align="justify" ><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399">Gandhi had a sign reading:</font> <font color="#663399">When you are in the right you can afford to keep your temper; and when you are in the wrong, you cannot afford to lose it</font></strong></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 size="2" face="Verdana, Arial, Helvetica, sans-serif"><font color="#FF6666">Have a nice day. </font></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> </body> </html>