TIOL-DDT 63 · the untouched capture
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<div align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#0000FF" size="3">TIOL-DDT
63</font><br>
26 2 2005<br>
Saturday</strong></font> </div>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Special
DDT</strong></font></p>
<p align="justify"><font color="#0000FF" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Normally
Saturday and Sunday are holidays for DDT, but with so much happening, we cannot
afford a holiday.</b></font></p>
<p align="center"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#006633">8
digit- Tariff and 8 notifications</font></strong></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>IT</b>
is finally out, the 8 digit Central Excise Tariff is to come into force from
28.2.2005 as per <strong>Notification No. 6/2005 - <a href="http://taxindiaonline.com/RC2/notDesc.php?MpoQSrPnM=NDM0MA==" target="_blank">Central Excise (NT)</a>, dated:
February 24, 2005</strong>. The Government has issued 8 other notifications
to carry out the changes in several notifications. All these notifications come
into effect from 28.2.2005 and that would mean from 0000hrs of 28.2.2005 that
is you have one whole day to study the new tariff, before it is amended in the
budget - if you can get a copy of it that is! Nobody just nobody in the
world seems to be having a copy of the new tariff. The Government's job
is over once the law is notified.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The
<strong>Bible</strong> says, "<strong>Search and thou shalt find</strong>"
- there was no Central Excise tariff to search for in those days.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">But
what are these nine notifications which the Government kindly made public and
what are they all about?</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">They
are meant to carry out the new headings in the more than a hundred notifications
issued by the Government all these years. Here's the list of the nine
notifications and what they propose to do.</font></p>
<div align="justify">
<table width="500" border="0" align="center" cellpadding="2" cellspacing="1">
<tr>
<td width="50"><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>S.
No.</strong></font></p></td>
<td width="150"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Notification
No. and date</strong></font></td>
<td width="300"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>What
it proposes to do.</strong></font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1.</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1/2005 -
Central Excise, dated: February 24, 2005</font></td>
<td><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">To substitute
the new headings in all the notifications exempting from excise duty,
AED(GSI) and AED(TTA)</font></p>
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"> </font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2.</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2/2005 -
Central Excise, dated: February 24, 2005</font></td>
<td><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">To substitute
the new headings in all the exemption notifications relating to NCCD</font></p>
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"> </font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3.</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3/2005 -
Central Excise, dated: February 24, 2005</font></td>
<td><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">To prescribe
nil rate of duty for the commodities at present attracting nil rate
of duty and to continue the present duty of 8% for Intraocular lenses
and to prescribe effective rate of Rs.17/- and Rs.34/- for Sugar as
at present</font></p>
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"> </font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4.</font></td>
<td><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5/2005
- Central Excise (NT), dated: February 24, 2005</font></p>
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"> </font></td>
<td><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">To substitute
the new headings in all the notifications relating to RSP based assessment</font></p>
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"> </font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5.</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6/2005 -
Central Excise (NT), dated: February 24, 2005</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">the Central
Excise Tariff (Amendment) Act, 2004 ( 5 of 2005), made effective from
28.2.2005</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6.</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7/2005 -
Central Excise (NT), dated: February 24, 2005</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">To substitute
the new headings in all the rules and notifications issued under the rules.</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7.</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8/2005 -
Central Excise (NT), dated: February 24, 2005</font></td>
<td><p><font size="2" face="Verdana, Arial, Helvetica, sans-serif">To substitute
the new headings in all the notifications relating TO Tariff value bases
assessment.</font></p>
<font size="2" face="Verdana, Arial, Helvetica, sans-serif"> </font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8.</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9/2005 -
Central Excise (NT), dated: February 24, 2005</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">To substitute
the new headings in all the Section 11C notifications. (retrospective
exemption)</font></td>
</tr>
<tr>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9.</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">10/2005
- Central Excise (NT), dated: February 24, 2005</font></td>
<td><font size="2" face="Verdana, Arial, Helvetica, sans-serif">To substitute
the new headings in all the notifications relating adhoc exemptions for
goods of strategic or secret nature, or for charitable purpose.</font></td>
</tr>
</table>
</div>
<p align="justify"> </p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">With
so much pre budget confusion, you can very well expect what's in store,
if <strong>Shakespeare</strong> was right, "<strong>coming events cast
their shadows before</strong>".</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#FF0000">Until
Monday with more of DDT</font></strong></font></p>
<p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Have
a Nice Day till budget</strong></font></p>
<p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Mail
your comments to</strong></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>
vijaywrite@taxindiaonline.com</strong></font></p>
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