TIOL-DDT 56 · the untouched capture
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TIOL-DDT 56</font><br>
17 2 2005<br>
Thursday</b></font></p>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif">
<b>Import of metal scrap - DGFT adds another ICD, but when will CBEC
follow suit? </b></font></p>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">By Circular No.<a href="http://taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=NzkxMw==" target="_blank"><strong>56/2004-Cus</strong></a>,
dated 18th October, 2004, CBEC had prescribed 15 customs stations through
which metal scrap import would be allowed. By Public Notice No.38/2004-09,
dated 27.12.2004, DGFT had announced a list of 17 stations through which the
import would be allowed. To catch up with DGFT, Board had added the two stations
missing from the list and included in the DGFT list by Customs Circular No.2/2005
dated 12.1.2005. So as per DGFT, import was allowed through these two new
stations from 27.12.2004, but CBEC would allow it only from 12.1.2005. In
DDT 31, on 13.1. 2005, we had asked, Shouldn't there be a co-ordination
mechanism between Customs and DGFT? Notifications should be issued simultaneously
or only one authority should be allowed to issue the notifications and clarifications
and they should be deemed to be issued by both. No such hope. Now DGFT has
come up with a new Public Notice to add ICD Nagpur to the list. This will
become operational only when the CBEC also issues a circular which is sure
to come within a few days. Till then? Why should two ministries issue the
same order? That is how the Government works.<br>
<br>
<a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2004/dgft04pub054.htm">DGFT
PUBLIC NOTICE NO. 54/2004-2009, Dated: February 15, 2005</a><br>
<br>
<font color="#006633"><b>IT Deduction for payment to associations for rural
development. CCs appointed as Chairmen of Committees.</b></font><br>
<br>
As per Section 35CCA of the Income Tax Act, payments made to associations
for rural development approved by the prescribed authority, are allowed as
deduction. The Committee has the Chief Commissioner or Commissioner as Chairman
and a Secretary of the state government as member. Now that every state has
at least half a dozen Chief Commissioners, the question would arise as to
which Chief Commissioner would be the Chairman. So the Government has empowered
certain Chief Commissioners to be the chairman. For Example, the Chief Commissioner-I,
Mumbai will be the chairman of the committee for the whole state of Maharashtra.
<br>
<br>
<a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=35&filename=notification/cbdt/2005/it05not051.htm">NOTIFICATION
NO. 51/2005 Dated February, 2005</a><br>
<br>
<b>Anti dumping duty on Polystyrene - extended </b><br>
<br>
The Anti dumping duty imposed on polystyrene, originating in or exported from,
Hong Kong, Singapore and Thailand, vide notification No. 158/2000-Customs,
dated 27th December, 2000, is extended till 12th day of October, 2005. But
why and is this extension proper? <br>
<br>
As per Section 9A(5) of the Customs Tariff Act, the anti dumping duty is valid
for five years from the date of imposition. Of course it can be extended.
Now this notification 158/2000 was issued on 27.12.2000 and so is still valid
till 26.12.2005. Why this extension then? <br>
<br>
The fact is that the original notification was 116/1999 dated 14.10.1999.
If this is the date to be considered, the duty lapsed on 13.10.2004. What
then is this extension?<br>
<br>
<a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2005/ctariff05_010.htm">NOTIFICATION
NO.10/2005-CUSTOMS 16th February, 2005</a><br>
<br>
<font color="#006633"><b>Clearer skies- Kyoto protocol in place</b></font><br>
<br>
The Kyoto Protocol on Global Warming officially went into effect yesterday
with 34 industrialized countries agreeing to take steps to control widespread
pollution.<br>
<br>
The treaty was actually agreed at a 1997 UN conference in Kyoto, Japan by
159 countries that are members of the 1992 UN Framework Convention on Climate
Change (UNFCCC). <br>
<br>
However, it took almost seven years to get the deal ratified so that it could
take effect. A total of 141 nations have approved the pact. <br>
<br>
The Kyoto Protocol commits the industrialized countries that have ratified
it to reduce the amount of six greenhouse gases</font></p>
<blockquote>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">- carbon dioxide (CO2), <br>
- methane (CH4), <br>
- nitrous oxide (N2O), <br>
- hydro fluorocarbons (HFCs), <br>
- perfluorocarbons (PFCs) and <br>
- sulphur hexafluoride (SF6).)</font></p>
</blockquote>
<p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> by 5.2 per cent of 1990 levels, during the five-year period 2008-2012. <br>
<br>
Carbon dioxide and these five other gases can trap heat in the atmosphere
and are blamed for rising global temperatures that are melting glaciers, raising
ocean levels and threatening potentially damaging climate change. <br>
<br>
Meanwhile, Australia and the US, the world's biggest polluter, have pulled
out saying Kyoto is too expensive and wrongly omits developing nations.<br>
<br>
The US never signed the Kyoto Protocol but 187 other countries did. The US
position on the protocol is said to lessen its ability to reach its goals
and deprives the Earth and its species from the benefits it can provide. The
US alone emits one fifth of all the greenhouse gases in the atmosphere that
are gradually turning the earth turn into a greenhouse. The convention signed
in Kyoto in April of 1997 was almost forgotten when US President George W.
Bush declared it was "unacceptable" in 2001. <br>
<br>
The Kyoto Protocol urges industrialized countries to limit their emission
of gases that cause global warming, in particular of carbon dioxide (CO2).
The Protocol also requires a restriction on the use of fossil energy resources,
especially oil. According to the UN, 80 percent of the carbon in the atmosphere
is created by the use of fossil energy resources in transportation, heating
and industry. The US emits 36.1 percent of greenhouse gases into the atmosphere;
Australia emits only 2.1 percent. Both refuse to ratify the protocol in order
not to lose their fossil waste resources. <br>
<br>
Clean energy is all set to undergo a major expansion worldwide as the Kyoto
Protocol came into force. The industrialized countries would need to accelerate
the introduction of renewables to meet these requirements, as well as reduce
energy consumption by promoting efficiency of energy end use, and enhance
the absorption of carbon dioxide in trees through greater afforestation. <br>
<br>
India has already ratified the Kyoto Protocol on 26th August 2002. India is
not required to reduce emission of Green House Gases (GHG) under the Protocol
under which basically the developed countries are required to reduce emissions
of GHG by an average of 5.2 per cent below 1990 level by 2012. <br>
<br>
And that should clear our sky.<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><br>
</font> </p>
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