Customs Circulars 2005

PWC may go Arthur Anderson way in India if Satyam's investors decide to sue PWC-employees of PWC and Satyam float their CVs AED or SAED levied on motor spirit and high speed diesel under the respective sections of the Finance Acts and NCCD on goods leviable to it, are not required to be paid for goods exported under bond from a manufacturing unit located in a Special Economic Zone. Similarly, a manufacturer located in a SEZ would be entitled to avail of the facility of export under claim for rebate in terms of rule 18 of the Central Excise Rules in respect of these duties-Central Excise Circular No.881 Under the various incentive schemes under Foreign Trade Policy, the computation of entitlement is to be done on the FOB value of exports inclusive of commissions and discounts, if any-DGFT Policy Circular No.51 Requirement of NOC before clearance of Ozone Depleting Substance (ODS) against Advance Authorizations-DGFT Policy Circular No.52 Bad News for PWC which audited Satyam Computers-Raju admits accounting fraud in company-Raju says it was like riding a tiger not knowing how to get off without being eaten Raju may be arrested and prosecuted Anti-dumping duty imposed on imports of Float Glass of thickness 2 mm to 12 mm (both inclusive) of clear as well as tinted variety (other than green glass) but not including processed glass meant for decorative, industrial or automotive purposes , originating in, or exported from, the Peoples' Republic of China and Indonesia-Customs Tariff Notification No.4 Anti-dumping duty imposed on import of Mulberry raw silk (not thrown), 2A grade and below, originating in, or exported from China-Customs Tariff Notification No.5 Full Bench of HC Ruling-High Court is empowered to condone the delay in filing the Appeals under Section 35G of the Central Excise Act, 1944 which are filed beyond the prescribed period of 180 days-Section 5 of Limitation Act will be applicable to Appeals filed under Section 35G of the Central Excise Act, 1944-AIT-2009-05-HC Co-relation of inputs with the export product under DFIA Scheme-DGFT Policy Circular No.50 Export of Stone Aggregate and River Sand to Maldives for the year 2009-2010-DGFT Notification No.75 Income-tax (First Amendment) Rules, 2009-Rule 40E- Prescribed conditions for the purposes of sub-clause (iii) of clause (B) of sub-section (2) of section 115WB-Income Tax Notification No.1 Income-tax (2nd Amendment) Rules, 2009 –Rule 5D & 5E amended-Income Tax Notification No.2 Government specifies the National Housing Bank (Tax Saving) Term Deposit Scheme, 2008 for the purposes of clause clause (xv) of sub-section (2) of section 80C of the Income-tax Act, 1961-Income Tax Notification No.3 Truckers demand duty free import of radial tyres and lowering of service tax As per provision of Section 47(iv) of Income Tax Act whether the transfer of capital asset by a company to its wholly subsidiary company could be regarded as transfer and therefore capital gains tax could be levied on such transfer-AIT-2008-04-HC Government grants full service tax exemption on taxable services provided to a Goods Transport Agency by their sub-contractors-Service Tax Notification No.1 DEPB Notification No.89/2005-Customs amended to provide benefits on clearances to SEZ- Customs Tariff Notification No. 3 Amendments made in DEPB Rates vide Public Notice No. 102 dated 05.11.2008 in respect of products where DEPB rates were reduced, stand withdrawn w.e.f. 5.11.2008 itself, thereby restoring the DEPB Rates notified prior to 5.11.2008, for the said items-DGFT PN 124 Government releases Rs. 600 crore to regional authorities of DGFT for payment of pending claims of Terminal Excise Duty and Duty Drawback under deemed export scheme-Government also releases Rs. 200 crore to the Development Commissioners of SEZs for payment towards pending claims of CST in respect of supplies made to 100% EOUs Anti-dumping duty on import of acrylonitrile butadiene rubber (NBR) originating in, or exported from, Korea RP -Customs Tariff Notification No.1 Changes in Customs duty on specified goods-Customs Tariff Notification No.2 New Drawback Rates for Boots/half boots/shoes/sandals of leather-cum synthetic/textile materials-Customs Non-Tariff Notification No.1 Drawback Rates on several products hiked-Customs Non-Tariff Notification No.2 Government announces Second Economic Stimulus Package to boost recession hit Sectors-Exemptions from CVD on TMT bars and structurals, and from CVD and Special CVD on cement, withdrawn-Full exemption from basic customs duty on zinc and ferro alloys, withdrawn-Duty drawback benefits on certain items including knitted fabrics, bicycles, agricultural hand tools and specified categories of yarn enhanced retrospectively from 1st September 2008-Accelerated depreciation of 50% provided for commercial vehicles to be purchased on or after 1.1.2009 upto 31.03.09-Click on the link below for details CENVAT Credit of service tax paid on all input services up to the Port allowed to Exporters-Click on the link below for details As demanded by AIT; FinMin finally amends CENVAT Credit Rules to allow benefit of non-reversal of Credit on clearances to SEZ Developers-Central Excise Non-Tariff Notification No.50-Click on the lik below for details Anti-dumping duty on import of Flexible Slabstock Polyol, originating in, or exported from, the People's Republic of China, Republic of Korea, Chinese Taipei and Brazil continued till 23rd July, 2009-Customs Tariff Notification No.138 Tariff Value for import of Brass Scrap is 3252 and for Poppy Seeds 4238-Customs Non-Tariff Notification No. 141 Import of new vehicles having an FOB value of US $ 40,000 or more and engine capacity of more than 3000cc for petrol run vehicle and more than 2500cc for diesel run vehicles exempted from policy provision of Import Licensing Note No. 2-DGFT Notification No.74 CBEC clarifies the classification of 'Combined refrigerator freezer with separate external doors' would be under sub- heading 8418 10 and not under 8418 21-Customs Circular No.23 Procedure relating to sanction and pre-audit of refund claims-Customs Circular No.22 Anti-dumping duty imposed on imports of Sodium Hydroxide(Caustic Soda)originating in, or exported from, Korea ROK and the People's Republic of China-Customs Tariff Notification No.137 Abatement from MRP for payment of excise duty lowered by 3 per cent on most of the products-Abatement on Auto Parts lowered to 30 per cent-Central Excise Non-Tariff Notification No. 49 excise duty of 300 PMT notified on cement clinkers-Central Excise Tariff Notification No.64 10% ethanol blended petrol exempted from excise duty Duty free import of capital goods and spare parts under EPCG-Customs Tariff Notification No.136 Anti-dumping duty on import of phenol-Customs Tariff Notification No.135 Authority for Advance Ruling rules looking at the nature of activities carried on or to be carried on by the liaison office of Ikea Trading (Hong Kong) Ltd. in India, no income would accrue or arise or deemed to accrue or arise in India in terms of section 5(2)(b) of Income Tax Act, 1961-AIT-2008-482-AAR Authority for Advance Ruling rules the swapping premium is profit derived from the business of providing long-term finance (computed under the head 'Profits & Gains of Business or Profession' before making any deduction under this clause) in terms of section 36(1)(viii) of the Income Tax Act, 1961-specified percentage thereof is eligible for deduction u/s 36(1)(viii) of the Income Tax Act in view of the fulfillment of condition for carrying this sum to the special reserve-AIT-2008-483-AAR Definition of 'Charitable purpose' under section 2(15) of the Income-tax Act-Income Tax Circular No.11 Import of Trucks/Tippers/Dumpers and spares thereof, under EPCG Scheme by any other sector except for the mining sector is not permitted-DGFT Circular No. 48 transitional arrangements in respect of items whose import has been restricted, shall continue-DGFT Circular No.49 SION norms for export of Shea Stearine notified-DGFT PN 118 The appellant an international firm of solicitors resident in UK, has no office or fixed base in India-the income of the assessee is charged on hourly basis in India and utilised in India shall only be chargeable to Income-Tax Act as disclosed in the return of Income-AIT-2008-480-HC CBDT clarifies that any return of income for the assessment year 2008-09 filed electronically on 30th September 2008, in respect of which the electronic acknowledgement bears the date stamp of 1st October 2008, shall be treated as having been filed within the due date, i.e. 30th September 2008 Export of cement freely allowed from all Ports-DGFT Notification No. 73 Bombay HC rules it is only after enactment of Section 66-A w.e.f. 18.4.2006 that taxable services received from abroad by a person belonging to India are taxed in the hands of the Indian residents- In such cases, the Indian recipient of the taxable services is deemed to be a service provider-Before enactment of Section 66-A, there was no such provision in the Act and therefore, Union of India had no authority to levy service tax-Click on the link below for details Import of all pre-packaged commodities subjected to compliance of all the provisions of the Standards of Weights and Measures (Packaged Commodities) Rules, 1977-Customs Circular No.21 Larger Bench of CESTAT rules in the case of provisional assessment under the Central Excise Rules, 2002 interest is required to be paid from the first day of the month succeeding the month for which such amount is determined-Interest is required to be paid even if the differential amount is paid before the order, under the Rule 7(3) of the said Rules, is issued finalizing the assessment-AIT-2008-473-CESTAT

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CUSTOM CIRCULARS 2005

Circular No.
Subject
1/2005

2/2005
Clearance of imported metal scraps.
3/2005
All Industry Rates of Duty Drawback, 2004-2005
4/2005
Reference on matters involving interpretation of statutory provisions or the policy provisions or the scope of notification to the Board.
5/2005
Levy and collection of 2% Education Cess on imports under various Export Promotion Schemes.
6/2005
Admissibility of Duty Drawback in Respect of Supplies Effected by DTA Units to Special Economic Zones
7/2005
Extension of   Warehousing Period of Capital Goods imported by EOU/EHTP/STP
8/2005
Discontinuation of removal of petroleum products from one warehouse to another
9/2005
Discontinuation of removal of petroleum & petroleum products from one warehouse to another.
10/2005
Clearance of imported metal scraps
11/2005
Factoring of 2% Education Cess in Brand Rates and Special Brand Rates of Duty Drawback determined under Rule 6 and Rule 7 of the Customs & Central Excise Duties Drawback Rules, 1995
12/2005
Fast Track Clearance Procedure.
13/2005
Delayed, incomplete or incorrect filing of Import Manifest of Import Report
14/2005
Withdrawal of accredited status
15/2005
Filing of documents through ICEGATE
16/2005
Clearance of Green Channel containers directly from the ports.
17/2005
Training for the staff of Customs
18/2005
No requirement of permission for palletisation
19/2005
Admissibility of All Industry Rates of Duty Drawback on Export Goods Manufactured from out of Inputs, some of which are Non-Duty Paid
20/2005
Revised Norms for Execution of Bond and Bank Guarantee under Advance Licence and EPCG Schemes
21/2005
Admissibility of DEPB benefits in respect of supply of goods from the Units in Domestic Tariff Area (DTA) to Units in Special Economic Zone ( SEZ) during the period from 01.04.2003 to 11.5.2004
22/2005
All Industry Rates of Duty Drawback, 2005-06 – Reg.
23/2005
Duty free import of lining and interlining materials under Sr.Nos.167 and 168 read with condition No.21 of notification No.21/2002-Cus. dated 1.3.2002 for garment industry
24/2005
Clearance of imported metal scrap
25/2005
Testing of goods exported under Drawback/DEEC/Pass Book Scheme.
26/2005
Applicability of drawback on exports in CKD/SKD condition
27/2005
28/2005
Classification of Mobile Pen/Pen Drive
29/2005
Re-export of Goods Imported under DFRC Scheme found Unfit for Consumption
30/2005
Annual Supplement to Foreign Trade Policy, 2004-09 – Changes made in EPCG, DFRC, DEPB and Advance Licencing Schemes
31/2005
Containers/cargo—Movement of containers and containerised cargo
32/2005
Clearance of imported metal scrap.
33/2005
Seizure of goods entered for exportation on account of misdeclaration of quantity, value etc. – provisional release instructions
34/2005
Reduction in Export Documentation – Abolition of Various Declarations
35/2005
Clearance of imported metal scrap–Procedure regarding.
36/2005
Revision of Classification of CPU Cooler Fan with Heat sink
37/2005
Importability of Boric Acid
38/2005
Warehousing - Waiver of interest on re-export of warehoused goods u/s 69 of the Customs Act, 1962 –   Clarification thereto
39/2005
Extension of benefit of Notification 21/2002-Cus., dated    1.3.2002, Sl.No. 276, to Computer Casang and Power Supply Unit imported together
40/2005
Clearance of imported metal scrap
41/2005
Eligibility of brand rate of duty drawback where inputs used in the manufacture of export products are imported availing of DEPB
42/2005
Introduction of Accredited Clients Programme (ACP)
43/2005
Introduction of Risk Management System (RMS) in Imports
44/2005
Delayed, incomplete or incorrect filing of Import Manifest or Import Report
45/2005
Transhipment of import and export cargo - waiver of bank guarantee
46/2005
Automation of movement of containerized cargo from Gateway Ports to hinterland ports – SMTP
47/2005
Simplified bond module covering both custodianship and transhipment –multiplicity and multi-utilisation of bond
48/2005
Import of livestock products
49/2005
Amendment to Circular No.58/2004-Cus. dated 21.10.2004.
50/2005
Procedure for disposal of unclaimed/ uncleared cargo under section 48 of the Customs Act, 1962, lying with the custodians
51/2005

52/2005
Procedure for disposal of unclaimed/ uncleared cargo under section 48 of the Customs Act, 1962, lying with the custodians
53/2005
Administrative Control over Special Economic Zones– Instructions
54/2005
Guidelines for compounding of offences under Customs and Central Excise Acts