TIOL-DDT 537 · the untouched capture
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<p align="justify"><b><font color="#663399" size="3" face="Verdana, Arial, Helvetica, sans-serif">TIOL-DDT
537</font></b><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><br>
22.01.2007<br>
Monday</b></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">EOUs</font></b><font color="#006600"><b>
– Removal to contract farmers – bank guarantee not required for units in existence
for more than two years</b></font></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">As per Notification
No. 22/2003 dated the 31st March, 2003, EOUs engaged in processing of agriculture
products or production or manufacture or packaging of articles, are allowed
to take out non duty paid goods to the fields and farms of contract farmers
of the user industry for production or in connection therewith; and to bring
back the produce to the user industry for exports, subject to certain conditions
one of which is </font></p>
<blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">++
the user industry shall be required to furnish a bank guarantee equal to the
total duty foregone on the goods so transferred to the fields or farms of
contract farmers;</font></p>
</blockquote>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now this
is amended to provide a bank guarantee by only those units which are in existence
for less than two years</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=30&filename=notification/excise/2007/etariff07_01.htm">NOTIFICATION
NO 1/2007-Cex., Dated: January 15, 2007</a></u></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">False
complaint to CBI – complainant charged.</font></b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Here is
a n interesting story. A Railway engineer suspended a contractor because his
service was inadequate. When the relations were good, the engineer had agreed
to take a loan in his name to buy a vehicle for the contractor, as the contractor
would not get a loan. The contractor used to default in repaying the installments
which used to be debited from the account of the engineer. The contractor used
to repay the amount in cash to the engineer. While making one such payment the
wily contractor got the engineer “trapped” by the CBI “red handed”. Fortunately
the CBI conducted a proper investigation and found out that the contractor was
laying the trap for the engineer and taking CBI for a ride. Now the CBI has
filed a case against the contractor and discharged the engineer. But what trauma
the engineer and his family must have undergone because of this false case!
But CBI has to be complimented for getting the truth. Normally in trap cases,
no further investigation is done – the fact that cash was recovered and there
was a complaint is enough for conviction. CBI’s ‘success’ rate is almost 100%
in trap cases.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">There was
a similar case of an inspector in a Custom House who was trapped by his own
sepoy. The sepoy took a loan from the inspector and while repaying it, got him
trapped by CBI. The inspector lost his job and was also convicted by the Court!
</font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Conviction
confirmed – forging Rajiv Gandhi’s signature</font></b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">In 1985,
CBI booked a case against one Madhur Kishore Bhatnagar for preparing a false
and forged letter supposed to have been written by Rajiv Gandhi. The Court convicted
him to two years imprisonment and a fine of Rs. 10,000. The Convict’s appeal
has now been dismissed.</font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006600">Service
Tax – TN wants constitution re written</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Tamil Nadu
seems to be serious about Service Tax being transferred to the states. In his
address to the Legislative Assembly, Governor Barnala wants the Centre to bring
forward necessary amendments to the Constitution that will empower states to
levy a service tax. The logic? “The responsibility for providing services to
people was with state governments”. </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></span></font></p>
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