TIOL-DDT 88 · 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 size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#0000FF" size="3">TIOL-DDT 88</font><br> 05 04 2005<br> Tuesday</b></font></p> <p align="center"><b><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"> ITC’s handshake with the Government – Firm?</font></b></p> <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Today many newspapers reported that that ITC had signed an agreement with the Government by which the Government need not refund the 350 Crores already deposited by ITC and the ordinance would be lapsed. The ITC case has been shrouded in mystery right from Day one and ended with the lapsing of the Ordinance. But there seems to be no end only ends (justified by all means). The CEGAT passed one of its longest orders running into over 150 pages in about 250 paragraphs. Reading the judgement was a formidable challenge to any student of excise. By the time you reach para 237, you have completely forgotten para 1! <br> <br> What baffles a law student is, “What is the need for an agreement for a winning party with the losing party after the highest court of the land has given its verdict?” But if the losing party is the Government and they have the power to retrospectively amend the law, may be it is prudent business to enter into agreements. But why should the poor tax payer’s money be wasted in all this farce? Is 300 Crores such a large sum for the Government to enter into an agreement with the party whom it had accused of evasion? Was ITC coerced into signing the agreement? Was the ordinance meant to be a veiled threat- only to be lapsed? Then what happens to the sanctity attached to the office of the President of India? If the ordinance was a disaster, the lapsing was a calamity and this agreement is an affront to our sacred institutions. The nation does not lose much if ITC gains a few hundreds of Crores but when government is seen as any other businessman and when government appears to have no respect for judiciary, parliament or President, it shatters the confidence in the system. The ordinance on ITC brought down the price of ITC shares and the loss to investors on that one day must have been more than these 350 Crores for which the Government is said to have entered into an agreement with the ITC. It is a sacred principle of our Constitution that no tax should be collected except by authority of law. Government should collect taxes by law (even an ordinance) not by agreements – Not a penny more not a penny less. <br> </font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br> <font color="#006633"><b>CVC is designated agency to receive complaints</b></font><br> <br> Government of India has authorized the Central Vigilance Commission as the ‘Designated Agency’ to receive written complaints for disclosure on any allegation of corruption or misuse of office. CVC has issued a press note explaining the salient features of the scheme.<br> <br> i) The complaint should be in a <b>closed/secured envelope.</b> The envelope should be addressed to Secretary, Central Vigilance Commission and should be <b>superscribed “Complaint under The Public Interest Disclosure”</b>. The complainant should give his/her name and address in the beginning or end of complaint or in an attached letter.<br> <br> ii) Commission will not <b>entertain anonymous/pseudonymous</b> complaints.<br> <br> iii) The text of the complaint should be carefully drafted so as not to give any details or clue as to <b>his/her identity</b>. However, the details of the complaint should be specific and verifiable.<br> <br> iv) In order to protect identity of the person, the Commission will not issue any acknowledgement and the <b>whistle-blowers are advised not to enter into any further correspondence</b> with the Commission in their own interest. The Commission assures that, subject to the facts of the case being verifiable, it will take the necessary action, as provided under the Government of India Resolution. If any further clarification is required, the Commission will get in touch with the complainant.<br> <br> But beware before you rush to the CVC with your complaint – for the Commission can also take <b>action against complainants making motivated/vexatious complaints.<br> </b><br> <font color="#006633"><b>Prevention of Food Adulteration Act _ DGFT wants compliance</b></font><br> <br> DGFT has amended the Imports Schedule to make it mandatory for import of food items including tea to comply with the provisions of Prevention of Food Adulteration Act, 1954 before allowing Customs clearance. As usual Customs will come up with a circular later - hopefully.<br> <br> <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=45&filename=notification/dgft/2004/dgft04not031.htm">DGFT NOTIFICATION NO. 31/ 2004-2009, New Delhi, Dated:†April 2, 2005</a><br> <br> <font color="#006633"><b>FTP – Tea amendments</b></font><br> <br> Handbook of Procedures is amended by DGFT regarding Tea to provide for<br> <br> 1. application to the Tea Board or any other inspection agency, for certificate of origin<br> <br> 2. For Duty Exemption Schemes, the period of fulfillment of export obligation shall commence from the date of import of the first consignment and should be fulfilled within a period of six months. In other cases it starts from the date of licence and ends after 24 months. <br> <br> 3. Tea imported by EOUs should be used within six months. In case of other goods it is three years.<br> <br> 4. For EOUs exporting Tea, minimum value addition of 50% should be insisted. <br> <br> <a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=47&filename=notification/dgft/2004/dgft04pub067.htm">PUBLIC NOTICE NO. 67 / 2004-09, Dated: April 2, 2005</a></font></p> <p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b>Economic justice can best be won by free men through free enterprise; <br> Governments should be of laws rather than of men<br> <br> - C. William Brownfield</b></font></p> <p align="left"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <font color="#FF6666"><b>Until Tomorrow with more of DDT</b></font></font></p> <p align="justify"><font color="#FF6666"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> Have a Nice Time</font></b></font></p> <p align="justify"><font color="#FF6666"><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif">Mail your comments to</font></b></font><font size="2" face="Verdana, Arial, Helvetica, sans-serif"> <b>vijaywrite@taxindiaonline.com</b> <br> <br> </font></p> </body> </html>