16 02 2015
Monday
THE Government had vide notifications 24-29/CE(NT) dated 05.12.2011 amended six CE NT Notifications to delete the special procedure for export of goods to Nepal. Those notifications prescribed the procedure, conditions etc. for exports to countries other than Nepal and Bhutan.
Resultantly, export to Nepal was made just like export to any other country. These amending notifications were effective from 01.03.2012.
Incidentally, they forgot to amend Notification No. 21/2004-CE(NT), which they amended by notification 02/2012-CE(NT) dated 22.02.2012.
While reporting the December 2011 notifications we had in DDT 1750 mentioned Export to Nepal - Liberalisation - What about Service Tax?.
CBEC did not react.
We again made a mention while reporting the notification 02/2012-CE(NT).
DDT 1802 said -
But what about Service Tax? In DDT-1750 12.12.2011, it was pointed out,
Notification No. 11/2005-Service Tax, dated 19.04.2005 grants rebate of Service Tax on taxable services exported to countries other than Nepal and Bhutan.
Similarly, Notification No. 12/2005-Service Tax, dated 19.04.2005 grants rebate of the duty paid on excisable inputs or service tax and cess paid on taxable input services used in providing taxable service exported to countries other than Nepal and Bhutan,
Why Nepal is retained in these two notifications? Has the Board forgotten these notifications or is it intentional?
That was in February, 2012. Three years have gone by and nothing has been done. Perhaps the "retention" of "Nepal" in these notifications is "intentional". But what is the intention?
Yesterday, we received a mail from a netizen asking us why DDT is silent all these years on the issue. Unfortunately, we can only point out the dirt - we can't clean it.
The Netizen also pointed out another notification which craves for similar attention.
It is the SSI Notification 8/2003-CE -
Paragraph 5, Explanation clause "G" reads -
G) "clearances for home consumption", wherever referred to in this notification, shall include clearances for export to Bhutan and Nepal; The Netizen quips -
"When export to Nepal is at par with export to other countries, then if the export clearances made to Nepal is to be included in the clearances for home consumption, it will be a disadvantageous position for assessees clearing their goods for export to Nepal. In my view notification 8/2003 ought to have been amended accordingly."
DDT hopes that this time around, before the Budget Notifications are issued, the CBEC will rectify this anomaly.
Or clarify that the discrimination is intentional. The Prime Minister wants a special relationship with Nepal - will CBEC jeopardise that?
Please also see No rebate to Exporters of Services to Nepal . . . But why !!!
FTP - Online IEC Applications - Fee reduced
DGFT has notified that the application fee for online IEC, notified vide Public Notice. 79/(RE-2013)/2009-2014 dated the 31st December, 2014 should be read as Rs 250/- instead of Rs 500/-. The new system has come into force with effect from 1.2.2015.
DGFT Public Notice No.85 (RE-2013)/2009-2014, Dated: February 13, 2015.
Anti Dumping Duty on Graphite Electrodes
GOVERNMENT has imposed definitive anti dumping duty on graphite electrodes of all diameters falling under heading 8545 originating in, or exported from the People's Republic of China.
See how difficult it is to impose an anti dumping duty - in this case, the investigation started sometime in 2013. The Designated Authority published his final findings on 19th November 2014. The Revenue Department issued the notification on 13th February 2015 - and obviously all these days, dumping has been going on merrily.
Notification No. 04/2015-Customs (ADD), Dated: February 13, 2015.
Tariff Value of Gold, Silver Decreased
THE Government has decreased the Tariff value of Gold from 412 USD to 397 USD per 10 gms. The tariff value of Silver is also decreased from 568 USD to 551 USD per kilogram.
Tariff values of all other items except Poppy seeds have seen changes.
The Tariff values as on 30.01.2015 and with effect from 13.02.2015 are as under:
|
Table 1
|
|
S. No.
|
Chapter/ heading/ sub-heading/tariff item
|
Description of goods
|
Tariff value USD (Per Metric Tonne)
from 30.01.2015
|
Tariff value USD (Per Metric Tonne)
from 13.02.2015
|
|
(1)
|
(2)
|
(3)
|
(5)
|
(6)
|
|
1
|
1511 10 00
|
Crude Palm Oil
|
681
|
669
|
|
2
|
1511 90 10
|
RBD Palm Oil
|
707
|
710
|
|
3
|
1511 90 90
|
Others - Palm Oil
|
694
|
690
|
|
4
|
1511 10 00
|
Crude Palmolein
|
724
|
719
|
|
5
|
1511 90 20
|
RBD Palmolein
|
727
|
722
|
|
6
|
1511 90 90
|
Others -Palmolein
|
726
|
721
|
|
7
|
1507 10 00
|
Crude Soyabean Oil
|
864
|
792
|
|
8
|
7404 00 22
|
Brass Scrap (all grades)
|
3537
|
3484
|
|
9
|
1207 91 00
|
Poppy seeds
|
3747
|
3747
|
|
Table 2
|
|
S. No.
|
Chapter/ heading/ sub-heading/tariff item
|
Description of goods
|
Tariff value USD
from 30.01.2015
|
Tariff value USD
from 13.02.2015
|
|
1
|
71 or 98
|
Gold, in any form in respect of which the benefit of entries at serial number 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed.
|
412 per 10 grams
|
397 per 10 grams
|
|
2
|
71 or 98
|
Silver, in any form in respect of which the benefit of entries at serial number 322 and 324 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed.
|
568 per kilogram
|
551 per kilogram
|
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Table 3
|
|
S. No.
|
Chapter/ heading/ sub-heading/tariff item
|
Description of goods
|
Tariff value USD (Per Metric Tons)
from 30.01.2015
|
Tariff value USD (Per Metric Tons)
from 15.02.2015
|
|
1
|
080280
|
Areca nuts
|
2183
|
2280
|
Direct Tax Collections up by 11 per cent
A CBDT Press Release says that Gross direct tax collection during April-January of the Financial Year 2014-15 is up by 11.38 percent at Rs. 5,78,715 crore as against Rs. 5,19,588 crore collected during the same period last year.
The Finance Minister hoped to collect Rs. 7.36 crores as direct taxes in this fiscal. They have got him 5.79 crores - they still have to collect 1.57 crores. As per the target, they should have collected Rs. 6.15 crores by end of January. Their shortfall is only 34,000 crores. So they may give the FM the money he wants.
Commissioners not co-operating with Sleuths
THE Investigation Directorates in both the Revenue Boards are grossly understaffed and in any case they don't have the manpower to conduct large raids and searches and they have to depend on the local jurisdictional Commissioners for supply of manpower.
It has been brought to the notice of the CBDT that some of the Commissioners are not providing manpower to the Investigation Directorates for the purposes of conducting searches for one reason or the other.
Board now directs that the manpower requisitioned by the Investigation Directorates should normally not be refused except in extra-ordinary circumstances.
CBDT FNo.286/15/2015-IT(INV.II), Dated: February 12, 2015.
Until Tomorrow with more DDT
Have a nice day.
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