safeguards

Background of the Circular:- CENVAT Credit Rules, 2004 ('CCR') permit availment of credit of excise duty on inputs and service tax on input services used for manufacture of dutiable goods or providing output services. In order to zero-rate the exports, Rule 5 of CCR provides that such accumulated credit can be refunded to the exporter subject to conditions provided in Notification No. 5/2006-CE (NT) dated 14.03.2006 ('subject notification'). Full Article

Trade defence measures are available to the domestic industry to counter unfair trade practices followed by exporters of goods from other countries. In case a product is imported into the country at less than its normal value, and it causes injury to the domestic industry, the domestic industry can make an application to Directorate General of Anti-Dumping and Allied duties (DGAD) in the Department of Commerce for imposition of anti-dumping duty. Full Article

CENVAT Credit Rules, 2004 permit taking of credit of inputs and input services which are used for providing output services or output goods. In order to zero-rate the exports, Rule 5 of CENVAT Credit Rules, 2004 provides that such accumulated credit can be refunded to the exporter subject to stipulated conditions. Notification No. 5/2006-CE (NT) dated 14.03.2006 provides the conditions, safeguards and limitations for obtaining refund of such credit. Full Article

Board’s right to inspect and investigation The Board may appoint one or more persons as inspecting officer to undertake the inspection of the books of accounts, records, documents and infrastructure, systems and procedures or to investigate the affairs of a mutual fund, the trustees and asset management company for any of the following purposes, namely: Full Article