Exemption to software - Government issues corrigendum to notification
Yesterday we carried a story that the exemption to software from the new CVD as announced by the Finance Minister did not get notified. Government has come out with a corrigendum to
substitute with
8524 31, 8524 31 19, 8524 31 90
8524 40, 8524 40 19, 8524 40 90
8524 91 8524 91 19, 8524 91 90
in the notification No 24/2005-Cus dated 1.3.2005. These items deal with software other than IT software. This would in effect mean that IT software, say falling under 8524 40 11, is not covered under this notification and so will get exempted from the new CVD imposed under Notification No. 19/2005.
Government’s corrigendum in F. No. 334/1/2005-TRU.
Notification No. 21/2002 - Cus amended
++ For imports by leather footwear manufacturers, the import value is increased to 3% of FOB from 1%.
++ For imports by manufacturers of cotton made ups, the import value is FOB value and not total value.
++ For import of machinery, the condition that the goods are imported by a manufacturer of leather products including footwear for his own use;, is deleted
See Notification No. , Dated : March 2, 2005
Government amends DEPB notifications – see Notification No. , Dated: March 2, 2005