TIOL-DDT 655 · the untouched capture
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<p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399" size="3">TIOL-DDT 655</font><font size="3"></font><font size="2"><br>
12.07.2007<br>
Thursday</font></b></font></p>
<p align=center><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Exemption to machinery, equipment supplied to LRSAM</b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Government has exempted 'Machinery, equipment, instruments, components, spares, jigs, fixtures, dies, tools, accessories, computer software, raw materials and consumables required for the Long Range Surface to Air Missile (LR-SAM) Programme of Ministry of Defence'</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">If,- </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(i) supplied to the ProgrammeLR-SAM under the Ministry of Defence; and </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">(ii)
before clearance of the said goods, a certificate from the Programme Director,
ProgrammeLR-SAM to the effect that such goods are intended for the said Programme
LR-SAM, is produced to the proper officer.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">This notification is valid till 31st day of May, 2011. Notification No. 64/95-Central Excise, dated the 16th March, 1995 is amended. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Identical exemption is given for exemption from customs duty also.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399">LRSAM</font></b> stands for <b><font color="#663399">Long Range Surface-to-Air Missile</font></b>. It is joint development programme of DRDO, Indian Navy and IAI, <st1:country-region w:st="on"><st1:place
w:st="on">Israel</st1:place></st1:country-region>. It has a range of 70 km using dual pulse rocket motor and active radar seeker in terminal phase and inertial/ mid-course update for guidance.</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_30.htm" target="_blank">NOTIFICATION NOs. 30/2007-Cex., Dated: July 10, 2007 </a></u><b><u>and </u></b><u><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=23&filename=notification/custom/2007/ctariff07_085.htm" target="_blank">85/2007-Cus., Dated: July 10, 2007</a></u></font></p>
<p align=center><font color="#006600" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Anti dumping on POY - re-imposed </b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The anti dumping duty on imports of partially oriented yarn originating in, or exported from, <st1:country-region w:st="on">Thailand</st1:country-region>, <st1:country-region w:st="on">Indonesia</st1:country-region>, <st1:country-region
w:st="on"><st1:place w:st="on">Malaysia</st1:place></st1:country-region> and Chinese Taipei was originally imposed vide notification No. 15/2002-Customs, dated the 8th February, 2002. This was extended by Notification No.22/2006-Customs, dated the 2<sup>nd</sup> March, 2006 till the 11<sup>th</sup> of April, 2007. </font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">So obviously it lapsed on 12<sup>th</sup>April, 2007.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Now it is re imposed for five years from 10.7.2007. But what was the position for the last three months? Was there no threat or injury to local industry?</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=23&filename=notification/custom/2007/ctariff07_086.htm" target="_blank">NOTIFICATION NO. 86/2007-Cus., Dated: July 10, 2007</a></u></font></p>
<p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">From our Legal Corner - tomorrow's cases</font><img src="http://www.taxindiaonline.com/RC2/image/stories/ddt_31.gif" alt="Legal Corner Icon" width="191" height="160" hspace="5" border="0" align="left"></b></font></p>
<p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Customs</strong></font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Refund of anti-dumping duty - Question of unjust enrichment in Sec 27 of Customs Act cannot have any impact on special provisions contained in Sec 9A(2) : Tribunal </b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399">THE</font> </b>appellant imported Vitrified Tiles from <st1:place
w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place> and dispute arose as to whether the Anti Dumping Duty is leviable on such items. The issue attained finality as they approached the Settlement Commission on the issue. During the pendency of the issue before the Settlement Commission appellants paid an amount of Rs.40.63 lakhs. The Settlement Commission accepted application of appellant and settled liability to the extent of Rs.31.40 lakhs.</font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The appellant later filed a refund claim for the excess amount deposited by them with the authorities. Naturally, the adjudicating authority rejected the refund claim on the ground that the appellant had not proved that the imported tiles were used by them for a project and concluded that refund could be sanctioned but had to be credited in to Consumer Welfare Fund on the ground of unjust enrichment. The Commissioner (Appeals) too held against the appellant. </font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Appeal dismissed for non-compliance for pre-deposit in 1999 - Petitioner files application in 2007 for restoration - Tribunal's order dismissing restoration application upheld : Allahabad HC </b></font></p>
<p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Central Excise </b></font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Taking suomotu credit when duty paid in excess - Matter referred to Larger Bench of Tribunal </b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399">IT</font> </strong>was only last week that we carried the news <i>"Self assessment and Self payment of duty are envisaged in law but not taking Self refund since if the same is allowed, it may lead to a situation like amendment of passport by a passport holder himself and so on " </i>while reporting the Tribunal decision in the case of Radhakrishna Synthetics <b>[</b><a
href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=52&filename=legal/cestat/2007/2007-TIOL-878-CESTAT-AHM.htm" target="_blank"><font size="1">2007-TIOL-878-CESTAT-AHM</font></a><b>]. </b>A similar view was taken by the Tribunal in the case of Comfit Sanitary Napkin (I) Pvt. Ltd..<b>[</b><a
href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=52&filename=legal/cestat/2004/2004-TIOL-995-CESTAT-BANG.htm" target="_blank"><font size="1">2004-TIOL-995-CESTAT-BANG</font></a><b>].</b></font></p>
<p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Income Tax</strong></font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Acquisition of marketing rights is depreciable asset - Interest paid on loan taken for acquisition to be added to cost of capital asset - Front-end fee paid to bank not allowable but depreciation cannot be denied : ITAT</b></font></p>
<p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><u>See our columns tomorrow for the judgements</u></b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><font color="#FF6666">Until Tomorrow with more DDT</font></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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