TIOL-DDT 669 · the untouched capture
Rendered as it looked. Links and images are disabled in this view; the file itself is untouched.
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"> <html> <head> <title>Untitled Document</title> <meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1"> </head> <body> <p align="justify"><b><font color="#663399" size="3" face="Verdana, Arial, Helvetica, sans-serif">TIOL-DDT 669</font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br> 01.08.2007<br> Wednesday</font></b></p> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Protocol officers authorised to receive Central Excise refund claims from foreign missions</font></b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The CBEC has appointed Protocol Officer(II), Ministry of External Affairs, New Delhi, Joint Secretary(Protocol), Government of Maharashtra, Joint Secretary(Protocol), Government of West Bengal, Joint Secretary(Protocol), Government of Tamilnadu as Assistant or Deputy Commissioner of Central Excise for the purpose of receiving of the refund claims filed by diplomatic missions or consulates or diplomatic agents or career consular officers under section 11B of the Act.</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=30&filename=notification/excise/2007/exnt07_30.htm" target="_blank">Notification No. 30/2007-C.E.NT, Dated July 30, 2007 </a></font></p> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Exemption to IC engines manufactured by KAMCO</font></b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399">The Government has exempted</font> </strong>internal combustion engines manufactured by Kerala Agro Machinery Corporation Ltd, (KAMCO) at their Kalamassery unit and cleared to Kanjikode unit of KAMCO, for manufacture of power tillers provided the manufacturer follows the procedure laid down in the Central Excise (Removal of Goods at Concessional rate of Duty for Manufacture of Excisable Goods) Rules, 2001.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong><font color="#663399">Here is an exemption notification applicable to all of ONE assessee.</font></strong></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=30&filename=notification/excise/2007/exnt07_30.htm" target="_blank">Notification No. 30/2007-C.E.NT, Dated July 30, 2007</a></font></p> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">FTP amendments</font></b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">The Government has made several amendments in the Foreign Trade Policy.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399">No more Force majeure?</font></b> As per Para 2.50 of the Foreign Trade policy, Export Obligation period and validity of an authorization shall be extended if the unit suffers on account of unforeseen circumstances/reasons and force majeure. Now this para is deleted. Does it mean that even if the unit is wiped off by Tsunami, it has to fulfil the export obligation?</font></p> <p align="justify"><font color="#663399" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Vishesh Krishi and gram Udyog Yojana (VKGUY)</b></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>: </b>As per the FTP para 3.86, ‘all status holders shall be incentivised with duty credit scrip equal to 10% of FOB value of agricultural exports....” Now this is amendedto read as All Status Holders shall be incentivised with duty credit scrip equal to 10% of FOB value of agricultural exports (including benefits entitled under paragraph 3.8.2). Does this mean that the credit of 10% is inclusive of the credit under para 3.8.2 or does it mean that the exporter is eligible for the credit under para 3.8.6 and under 3.8.2? And there is a new clause added that This additional benefit shall be subject to Actual User condition and hence non-transferable.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399">High-Tech Products export Promotion Scheme.</font> </b>Under this scheme, exports of notified high-tech products were entitled for a duty credit scrip of 10% of the incremental growth in exports. Now this is changed to 1.25% of the FOB value or 5% of the incremental growth in FOB value. Exports made by EOUs / EHTPs / BTPs who do not avail direct tax benefits / exemption shall be eligible, provided the entire credit does not exceed Rs. 15 Crores in a year.</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=45&filename=notification/dgft/2007/dgft07not019.htm" target="_blank">DGFT NOTIFICATION NO. 19 (RE-2007)/2004-2009., Dated: July 30, 2007</a></font></p> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#006600">Hillary cleavage – storm in the C-Cup</font></b></font></p> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><b><b><img src="http://www.taxindiaonline.com/RC2/image/stories/hillary.jpg" alt="Legal Corner Icon" width="191" height="160" hspace="5" border="0" align="left"></b></b></b></font></p> <font size="2" face="Verdana, Arial, Helvetica, sans-serif">If you thought that the Indian Presidential election was not all that decent, look at what is happening in the great US of A. The great issue now is Mrs Hillary Clinton's cleavage which she slightly exposed before the Senate a few days ago. The Washington Post recently reported, </p> </font> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1. There was cleavage on display Wednesday afternoon on C-SPAN2. It belonged to Sen. Hillary Clinton.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2. She was talking on the Senate floor about the burdensome cost of higher education. She was wearing a rose-colored blazer over a black top.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3. The neckline sat low on her chest and had a subtle V-shape. The cleavage registered after only a quick glance. No scrunch-faced scrutiny was necessary.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4. There wasn't an unseemly amount of cleavage showing, but there it was. Undeniable.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5. The presidential hopeful revealed a changing fashion sense in the Senate.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6. It was startling to see that small acknowledgment of sexuality and femininity peeking out of the conservative -- aesthetically speaking -- environment of Congress.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7. The last time Clinton wore anything that was remotely sexy in a public setting surely must have been more than a decade ago, during Bill Clinton's first term in office when she was photographed wearing a black Donna Karan gown that revealed her shoulders. It was one of Karan's "cold-shoulder" dresses, inspired, Karan once noted, because a woman's shoulders remain sensuous and appealing regardless of her age.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8. The cleavage, however, is an exceptional kind of flourish. After all, it's not a matter of what she's wearing but rather what's being revealed.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9. Not so long ago, Jacqui Smith, the new British home secretary, spoke before the House of Commons showing far more cleavage than Clinton. If Clinton's was a teasing display, then Smith's was a full-fledged come-on.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">10.With Clinton, there was the sense that you were catching a surreptitious glimpse at something private. You were intruding -- being a voyeur.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">11.Showing cleavage is a request to be engaged in a particular way.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">12.To display cleavage in a setting that does not involve cocktails and hors d'oeuvres is a provocation.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">13.It requires that a woman be utterly at ease in her skin, coolly confident about her appearance, unflinching about her sense of style.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">14.Any hint of ambivalence makes everyone uncomfortable. And in matters of style, Clinton is as noncommittal as ever.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">All this about a 59 year old woman who wants to be President! Are these Americans really crazy?</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></b></font></p> <p align=center><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><b><b><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></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 size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399">Income tax - Depreciation of over Rs 1.9 Cr on ground that very purchase of machinery was doubted in spite of the fact that assessee produced unimpeachable evidence - Case remanded : ITAT </font></b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">THE assessee has purchased Air Pollution Equipment and leased the same to M/s Prakash Industries Ltd and the assessee being the owner of the equipment claimed to be entitled to depreciation @ 100% of the cost of Air Pollution Equipment. Revenue doubted the very existence of the Air Pollution Control Equipment and has held that the transaction of purchase of equipment and lease to M/s. Prakash Industries Ltd. is a paper transaction only. </font></p> <p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Central Excise </strong></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399">Appellant could not produce cement and put it to commercial sale in absence of BIS certificate - Production started only from June 15, 2002 - Eligible for exemption under Not 56/2002 : Tribunal </font></b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399">L-6 premises and L-4 premises are situated within same campus - Supervision charges not required to be paid when services provided by departmental officers within normal office hours : Tribunal </font></b></font></p> <p align="justify"><font color="#FF0000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>Service Tax </strong></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399">Yet another overlap of services - 'Interior decoration' or 'finishing services under commercial construction service'? Cestat orders pre-deposit of Rs 10 lakhs </font></b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">CLASSIFICATION of the services is going to be the major area of disputes in Service Tax. With 100 services in the tax net and without any codification of the services, the correct classification of any particular service is bone of contention between the revenue and the assessees, especially in cases where there is likelihood of a service being classifiable under more than one service. In this case we are reporting today, the revenue demanded Rs 1,09,39,242/- service tax under the category of "Interior Decorator" from period 1.10.2000 to 30.9.2005. The appellant contended that their service is classifiable under "Commercial or Industrial Construction Service" which is taxable only with effect from 16.6.2005.</font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><u><font color="#663399">See our columns tomorrow for the judgements</font></u></b></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> </body> </html>