TIOL-DDT 511 · the untouched capture
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<p align="justify"><b><font color="#663399" size="3" face="Verdana, Arial, Helvetica, sans-serif">TIOL-DDT
511</font></b><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><br>
13.12.2006<br>
Wednesday</b></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">It’s</font></strong><font color="#006600"><strong>
2006 not 2005 – Board amends notification</strong></font></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As per NOTIFICATION
NO. 71/2006-Cus.,(N.T.), Dated: June 23, 2006, <i>the Commissioner of Customs
(Imports), New Customs House, Ballard Estate, Mumbai</i>, was appointed as <i>The
Commissioner of Customs (Imports), Jawaharlal NehruPort Trust</i> and <i>The
Commissioner of Customs (Imports), Air Cargo Complex</i> and <i>The Joint Commissioner
of Customs (Imports), Air Cargo </i>to adjudicate matters relating to Show Cause
Notice pertaining to M/s Sagar Electronics at 599, Old LajpatRai Market, Delhi
and others issued, vide, DRIF.No. 50D/126/2004-CI (C.P.G.-III), dated the 18th
May, <b>2005.</b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Board has
now amended this notification to make 2005 as 2006!</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Obviously
somebody is reading the notifications! How nice it would be if Board reacts
to massive public opinion.</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_131.htm">NOTIFICATION
NO. 131/2006-Cus.,(N.T), Dated: December 2006</a></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Board
appoints commissioners to adjudicate specific DRI cases</font></b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Board has
appointed specific commissioners to adjudicate specific DRI cases. Is it necessary
to issue notifications for each case? </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_132.htm">NOTIFICATION
NO. 132</a><b> and </b><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=24&filename=notification/custom/2006/cnt06_133.htm">133/2006-Cus.,
(N.T), Dated: December 8, 2006</a></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Cash
Reserve Ratio (CRR) of Scheduled Commercial Banks increased by RBI </font></b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The RBI
has increased the CRR by by one-half of one percentage point of their net Demand
and Time Liabilities (NDTL) in two stages, effective from fortnights as indicated
below:</font></p>
<table width="450" border=1 align="center" cellpadding=3 cellspacing=0>
<tr>
<td width=307 valign=top> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Effective
date (i.e., the Fortnight beginning from)</font></p></td>
<td width=284 valign=top> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CRR
on net demand and time <br>
Liabilities (per cent)</font></p></td>
</tr>
<tr>
<td width=307 valign=top> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">December
23, 2006</font></p></td>
<td width=284 valign=top> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5.25</font></p></td>
</tr>
<tr>
<td width=307 valign=top> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">January
06, 2007</font></p></td>
<td width=284 valign=top> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5.50</font></p></td>
</tr>
</table>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=48&filename=notification/rbi/2006/rbi06noti001.htm">RBI/2006-2007/201
.DBOD.No. Ret.BC. 45/12.01.001/2006-07 Dated: December 11, 2006</a></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Insurance
of sheep – exempted from Service Tax – what happened to Notification No. 30/2006?</font></b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Government
has exempted the taxable service provided by an insurer, carrying on general
insurance business, to a policy holder for the insurance of sheep from the whole
of service tax leviable. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This sheepish
exemption is valid only till 31st December 2009. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This is
Notification No. 31/2006. The last notification issued by the Board was 29/2006.
Obviously the next notification should have been 30/2006. When Notification
No. 31/2006 was issued, we tried to locate Notification. 30/2006. It is indeed
difficult to get notifications when the Boards are very possessive and secretive
about their public notifications.</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=40&filename=notification/servicetax/2006/stnot06_031.htm">NOTIFICATION
NO. 31/2006-Service Tax, Dated: December 11, 2006</a></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Mode
of payment of application fee under the Right to Information Act – CBEC internet
jokes</font></b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Commissioner
of Central Excise, Kolkotta – I Commissionerate issued a Pubic Notice. No. 11/2006
dated 10.11.2006, which stated that It is being hereby notified that the prescribed
application fee by demand draft or banker’s cheque or Indian Postal Order in
respect of the application filed in this Commissionerate under this Act should
be payable to the <b>“Assistant Chief Accounts Officer, Central Excise, Kolkata-I
Commissionerate”.</b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The CBEC
web site faithfully carried this - <a href="http://www.cbec.gov.in/cae/paymode-rti-applnfee.htm">http://www.cbec.gov.in/cae/paymode-rti-applnfee.htm</a> </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Not to be
outdone, the Kolkotta II Commissionerate issued a Public Notice No. 3/2006 dated
8.12.2006 with the same instructions. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">It is being
hereby notified that any person intending to obtain information from the Central
Public Information Officer (CPIO), Central Excise, Kolkata-II Commissionerate,
Kolkata is required to pay prescribed application fee by way of cash against
proper receipt or by demand draft or banker's cheque or Indian Postal Order
in favour of Commissioner, Central Excise, Kolkata-II Commissionerate. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A copy of
this letter was sent to the Superintendent, Systems with a request to post this
in the CBEC website. The Superintendent wrote on that paper </font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><img src="http://www.taxindiaonline.com/RC2/image/stories/image_511.bmp" width="735" height="527" border="1" align="middle"> </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">And the
Inspector did the needful. He sent it to the web master who also did the needful.
He just uploaded the letter on to the site with the remarks of the Superintendent.
You can see it at <a href="http://www.cbec.gov.in/cae/tender/kol-rti-paymntmode.pdf">http://www.cbec.gov.in/cae/tender/kol-rti-paymntmode.pdf</a></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Huge
disbursal of drawback</font></b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The all
industry drawback disbursed during the last three years:-</font></p>
<table width="450" border=1 align="center" cellpadding=3 cellspacing=0>
<tr>
<td width=228 valign=top> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Year</font></p></td>
<td width=228 valign=top> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Drawback
disbursed (Rs. In crores)</font></p></td>
</tr>
<tr>
<td width=228 valign=top> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2003-04</font></p></td>
<td width=228 valign=top> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Rs.
4415.00</font></p></td>
</tr>
<tr>
<td width=228 valign=top> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2004-05</font></p></td>
<td width=228 valign=top> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Rs.
2811.52</font></p></td>
</tr>
<tr>
<td width=228 valign=top> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2005-06</font></p></td>
<td width=228 valign=top> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Rs.
3235.12</font></p></td>
</tr>
</table>
<p align=center><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b>IT
IN IT</b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Or Information
Technology in Income Tax :-</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">“Comprehensive
Computerisation in the Income Tax Department which was initiated in year 1994-95
is an ongoing project. The creation of a nationwide network is one of its components.
The Department has made considerable progress, inter-alia, in the allotment
of permanent account number (PAN), tax accounting, processing of returns, filing
of TDS returns and annual information returns (AIR). One of the recent successful
initiatives has been compulsory electronic filing of return by corporate taxpayers.
<br>
<br>
As regards networking, initially, 60 cities of the country were networked on
leased line basis technology. Subsequent to this initiative, it was decided
to establish a single national data base whereby other 450 cities would also
be put on the network. For this purpose, Internet Protocol based Virtual Private
Network (IP-VPN) technology was adopted and a contract was entered with M/s
BhartiAirtel Ltd. on 28.10.2005 for connecting 745 buildings of the Income Tax
Department located in 510 cities (including 60 cities which were earlier networked
on leased line basis). 219 buildings in 60 cities have already been networked
under the new system. Another 43 cities would be on network by 31st December,
2006. More cities would also be on network in the coming months.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">For the
purpose of networking, Income Tax Department, has so far paid a sum of Rs. 19.83
crores to M/s BhartiAirtel Ltd. out of total sum of Rs. 240 crores (excluding
Service Tax) to be paid over a period of five years).”</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> This was
informed to the RajyaSabha yesterday by S.S. Palanimanickam, Minister of State
for Finance.</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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