TIOL-DDT 77 · the untouched capture
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<html> <head> <title>Untitled Document</title> <meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1"> </head> <body bgcolor="#FFFFFF"> <p align="justify"><font color="#000000" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#0000FF" size="3">TIOL-DDT 77</font><br> 21 03 2005<br> Monday</b> </font></p> <p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Duty Free Credit Entitlement Certificate for Status Holder – last date extended</b></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>THE</b> last date for filing of application for Duty Free Credit Entitlement Certificate for Status Holder for the period 2003-04 was 31st December 2004. This was further extended till 31st March 2005.The application for obtaining Duty Free Credit Entitlement Certificate was required to be submitted in Appendix-17D but those who framed the rules forgot to notify this Appendix 17 which remains un notified even now. So now the last date is extended till three months from the date of issue of Public Notice notifying Appendix-17D. - <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=46&filename=notification/dgft/2004/dgft04cir023.htm">POLICY CIRCULAR NO. 23/2004-09, Dated: March 17, 2005</a><br> <br> <font color="#006633"><b>DGFT notifies ceiling for export of stone and sand to Maldives</b></font><br> <br> As per the Export Policy, export of sand and soil falling under Chapter 25 is restricted. However export to Maldives was permitted for the year 2004-05 subject to a ceiling. Now the policy is amended to enhance the ceiling limit for 2005-06.– DGFT <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2004/dgft04not030.htm">DGFT NOTIFICATION NO. 30/(2004-2009), Dated: 17.03. 2005. </a></font></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b>Chasm between precept & practice</b></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br> <br> The UPA Govt. at the centre is guided by the <b>NCMP</b> even as emphasized by the Hon'ble Finance Minister in his budget speech. The <b>NCMP</b> is quite vocal on keeping the interests of the poor and the down-trodden which are considered to reside in majority in <b>Rural India</b>. Quite understandably the emphasis is tilted in their favour, be it in allocations or alleviations spelt out in the budget.<br> <br> The poor and down-trodden among the industries, viz the Small scale and tiny industries have been dealt a raw deal in the budget despite a clear platitudinous concern for them in the <b>CMP</b> vide extract below:<br> <br> <b>Administrative Reforms: In the past few years, the most employment intensive segments of small-scale industry have suffered extensively.</b> <b>A major promotional package for the SSI sector will be announced soon.</b><br> <br> Last year the budget did not unveil anything in the pretext of lack of time and it was told it will be done in this year's budget. What was done now is like the remedy being worse than the disease. The eligibility criterion for exemption was raised to Rs 4 Crores from Rs 3 Crores of turnover in a year which really does not touch majority of SSIs as their turnover is less than Rs 3 Crores. On the other hand the concessional duty up to Rs 1 Crore turnover per annum under Notification No. 9/2003 has been removed. <br> <br> Nothing has been even thought of to relieve them of the unnecessary and unaffordable legal formalities and litigations so long as they are within the exempted limit of Rs 1 Crore turnover, though a lot of platitudes have come on record from government both in and out of the Parliament vide Extracts below:<br> <br> <b>Extracts from Budget Speech on 1-6-98 by FM Mr Yashwant Sinha</b><br> <br> <font size="1">95. Litigation has been the bane of both direct and indirect taxes. A lot of energy of the Revenue Department is being frittered in pursuing large number of litigations pending at different levels for long periods of time. Declogging the system will not only incentivise honest taxpayers, enable government to realise its reasonable dues much earlier but coupled with administrative measures, would also make the system more user-friendly<br> <br> 16. The SSI sector makes a valuable contribution of about 40 per cent to our total manufacturing sector production, 35 per cent to exports and employs over 160 lakh workers.</font><br> <br> Extract from the speech of Prime Minister Shri Atal Bihari Vajpayee at the Global Summit for Small and Medium Enterprises<br> <br> <b>December 20, 2002 New Delhi</b><br> <br> Today, margins across industries are rather thin and a slight change in costs abroad, or even within a nation, can undercut one's competitiveness. Small and Medium Enterprises are particularly vulnerable to such volatile developments because of their low resource base. Frequently, this causes sickness in the sector and sometimes leads to closure of units. <br> <br> The turbulence is both in terms of new start-ups and closures. Globally, it has been estimated that up to 50 percent of SME start-ups in most economies do not survive the first 5 years of operation. India is no exception and we too have our share of sick industries. <br> <br> At the same time, governmental and semi-governmental agencies need to do much more to act as facilitators, so as to make our Small and Medium Enterprises more competitive. <b>While the big can still afford to deal with a myriad of rules and rulings, those whose whole business often comprises only a dozen people (or less) cannot afford to have even one of them tied down in filling forms and “managing” the governmental system. <br> </b><br> <b>Therefore, I would like to reiterate what I have often said before. All enterprises – but especially Small and Medium Enterprises – must be speedily liberated from the heavy burden of untenable constraints and hurdles they face.</b><br> <br> <b>This should be done by making necessary changes in the legal and administrative framework. Wherever necessary, rules, regulations, procedures and guidelines should be amended and simplified after taking Small and Medium Enterprises into confidence.<br> </b><br> In this context one is tempted to draw from the Hon'ble Chief Justice of India's speech reported in the papers a couple of days ago:<br> <br> Delivering the Key-note address on the World Consumer Rights Day at a function organized by the NCDRC, Mr. Justice Lahoti said he was <b>"a little surprised and even amused"</b> to hear Union Ministers say that the Fora should be efficient, effective and given more teeth whereas they themselves were the government. <b>"They are the persons who have to act."</b><br> <br> <b>He added in a lighter vein that the NCC should take suo moto cognizance of deficiency in service on the part of the government. " It is the government which has to discharge its obligation in strengthening consumer fora,</b>" he added.<br> <br> Could someone take up the deficiency of the government as brought out in the case of SSIs above to the National Consumer Commission to make the government implement their publicly expressed <b>Precepts</b> so that the SSIs can start feeling them in <b>Practice</b>?<br> <br> <b><font color="#FF0000">Until Tomorrow with more of DDT<br> <br> Have a Nice Day<br> <br> Mail your comments to</font></b> <b>vijaywrite@taxindiaonline.com </b></font></p> <p align="justify"> </p> </body> </html>