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FM reviews CAPEX of CPSEsGovt writes to over 2800 corporates to clear MSME duesGovt carrying out reforms in every sector of economy to prop up growth: PMIgnoring limitation proves costlyInverted duty structure - A Case study (See 'TOG Insight' in Taxongo.com)CBIC promotes four officers as Pr Commissioner of Customs & Central Excise + posts Sameer Pandey as DS in GST Council SecretariatSC cannot be a place for Govts to walk in when they choose, ignoring period of limitation prescribed - Petition dismissed as time barred; costs imposed on State for wasting judicial time - amount to be recovered from officers responsible: SCIs penalty compulsorily attracted on late payment of GST?No mutation of COVID-19 detected in India: Health MinisterCus - Goods re-imported for repair and re-exported - Merely because Assessee could claim duty drawback later on and it may give rise to a revenue neutral situation, it cannot be said that period of one year prescribed in 158/95-Cus is without any meaning: HCST - Payment of mobilization advance is a separate financial transaction within contract for providing of service & so is not to be included in gross taxable value as per Section 67 of Finance Act 1994 - duty demand cannot be raised thereon when there is no allegation of any part of contracted value having evaded taxation: CESTATBSVI introduction a revolutionary step: JavadekarCX - It is settled position in law that an assessee is entitled to interest on delayed disbursal of refund after three months from date of filing of refund claim till date of its realisation: CESTATCus - Drawback - After turning down request for taking test samples, Revenue cannot brush aside report given by an expert Committee simply for the reason that sample was not drawn and referred by Department: CESTATPayment made to a trust formed for the benefit of employees of the company, of which the assessee was a shareholder & whose shares the assessee had sold, does not qualify as expenditure incurred wholly in connection with transfer of asset: HCBogus purchases - only the profit element embedded therein is to be disallowed, rather than the entire quantum of purchases made: ITATSearch assessment is invalid where it is completed even before search operations are conducted or where any material incriminating the assessee has not yet been found: ITATWhere assessee did not claim exemption in respect of one residential property, the assessee can avail such benefit in respect of a second house or plot of land: ITATIndia successfully test-fires cruise missile from Indian Navy’s destroyer INS ChennaiCOVID-19: Global tally goes past FOUR Crore with 11.15 lakh deaths; America has close to 27 lakh active cases against 8 lakh in IndiaCOVID-19 - Almost 80% new cases coming from 10 StatesCountrywide S&T infrastructure facilities to be accessible to industry & startups: GovtPM calls for speedy access to vaccines once readyNew Zealand PM earns second term for managing COVID-19 wellDigital Media - Govt to extend all benefits available to othersGovt not considering any DA for Govt employees: GangwarCBDT issues transfer order of 395 Addl / JCITs on All India basisSBI given nod for sale of electoral bonds for 10 daysEducation CESS - the spoilt fruit
 
The paper chase

TIOL-DDT 407
17 07 2006
Monday

The dead are gone, but the survivors have to struggle. The bureaucratic procedural maze really does not leave any luxury of mourning for a wife who had lost her partner in a tragedy like the Mumbai blast. Will the office give her the pension and other dues on time or will they get stuck with “audit” objections? For a dispute between two offices on an amount of Rs. 1500/- they had held up more than Rs 3 Lakhs of my dues. I told them to deduct that Rs. 1500 and give me the balance. They said there was no such provision. Finally only the threat of dragging them to court and claiming interest quickened the process. And this happened to somebody who had just left the department. What will be the plight of widows doing the rounds in our offices to claim their dues? Will somebody help them? Today we are carrying an article that I wrote more than twenty years ago on the travails of an unfortunate widow. Nothing seems to have changed. See the paper chase

Why do we replace one form by five? Law Minister  

Law and Justice Minister Hans Raj Bhardwaj noted how efforts to simplify often end in replacing a form by five new forms. He was inaugurating a new court room in the ITAT. Or was he taking a dig at his famous colleague, the FM?

The ITAT was set up 65 years ago in 1941. The Income-Tax Appellate Tribunal is one of the oldest temples of justice in our country. It is said that the older the temple, the greater is its sanctity and reverence.

The first President of the Tribunal Mohammad Munir went on to become the Chief Justice of Pakistan and under his famous Doctrine of Necessity stamped the seal of approval on Governor General Ghulam Mohammad's action to dissolve the first Constitutional Assembly of Pakistan.

The President in 1941 used to get a basic pay of Rs. 3000/- per month. On an annual increase of 6%, that basic pay should be now more than Rs. 1, 30,000/- pm. Maybe the judges do deserve this kind of salaries at least to keep them away from temptations and to give them a decent life style.

Coming back to the present day, ITAT President Vimal Gandhi said that ITAT has reduced pendency of cases from "around three lakhs in 1998 to 1,03,000 as on 30th June 2005.

The Delhi Chief Commissioner who was also present had a grouse; Tax collection was 10% of the GDP in 1991, now it is 10.5%.

Drawback Rules amended – Service Tax included

Even the name changed: It is now the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995.

Service Tax included – consequential changes: In determining the drawback rates, now Service Tax will also be factored. Necessary changes are made in the rules.

Manufacturer can claim drawback – need not be manufacturer exporter. The words, ‘manufacturer exporter’ have been replaced with manufacturer.

Recovery of drawback – Time limit reduced to thirty days: If export proceeds are not realized within the stipulated period, the exporter is required to repay the drawback amount within sixty days of the receipt of the order from the Assistant Commissioner. Now this period is reduced to thirty days.

Notification. No.80/2006-CUSTOMS (N.T.) dated 13th July, 2006

Other details of the drawback rates have been extensively covered by TIOL, so DDT is not repeating them.

Target Plus Scheme - export turnover limit reduced

As per the policy, All Star Export Houses which have achieved a minimum export turnover in free foreign exchange of Rs 10 crores in the previous licencing year were eligible for consideration under the Target Plus Scheme. Now this is reduced to Rs. 5 Crores.

NOTIFICATION No. 20(RE 2006)/2004-2009 Dated: July 13,2006

Until Tomorrow with more DDT

Have a nice day.

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