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G20 finance leaders agree to tax super-rich but forum not yet readyIndia, US ink pact to stymie illegal trafficking of cultural propertyFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaEU penalises 5 countries for infringing budget rulesChina says Relations with Japan at critical stageEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesNew Capital gains regime: CBDT issues FAQsFM favours debt reduction but sans affecting economic growthMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBDGFT simplifies EPCG Scheme procedures to enhance Ease of Doing BusinessKargil Victory Day: PM warns Pak against practising terrorismPM GatiShakti Group evaluates five key infrastructure projectsMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBLadakh's Budget has increased from Rs 1100 Cr to Rs 6000 Cr in last 5 yrsChina pumps in subsidies worth USD 41 bn into car sectorCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SCIndia's installed Nuclear Power Capacity to triple by 2031-32: MoS

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Don't let ONGC Petro additions Ltd. turn into a failure


Selecting the right combination of schemes

Sir,
I read your insightful article. If the authorities have agreed in-principle to convert its status from SEZ unit to one in DTA, the option to convert to EPCG may again impose newer obligation to export. In this scenario, i am inclined to suggest MOOWR scheme (right away) and get freedom from obligations to export output. A MOOWR unit stands to loose AIR (of drawback) if the Company has been enjoying on exports. The option to exercise EPCG on certain capital installations, if finally by the DGFT, can still be exercised anticipating the extent of foreseeable exports. MOOWR scheme works mostly under the Customs procedures and can co-run EPCG, Advance authorization (for inputs) etc. from same premises.

-rajesh ingale

Raveendra Pethe 03/09/2023

 

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