Service tax is leviable with effect from 1st May, 2006 on services provided by an aircraft operator to passengers embarking in India for international journey by any class, other than economy class, under section 65(105)(zzzo) read with section 66 of the Finance Act 1994. Board of Airline Representatives in India (BAR) have sought clarifications on the levy of service tax on the above mentioned service.
In exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995.
rate of exchange applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is specified in the notification, issued from time to time, in exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of the said Customs Act.
In exercise of the powers conferred by sub-section (2) of Section 14 of the Customs Act, 1962, (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.36/2001-Cus (N.T.), dated, the 3rd August 2001.
Circular No. 10/2006-Income Tax Reference is invited to Board’s Circular No. 10/2003 dated 24th December, 2003 which provided that an individual deriving income from growing and curing of coffee who is not covered by the first proviso to section 139(1) of the I.T. Act, would not be required to file a return of his income if his income from growing and curing of coffee was Rs. 2 lakhs or less.
Convertible Instruments shall be deemed to be fully paid up for the purpose of clause (I), if the entire amount payable thereon has been paid and no further payment is envisaged to be made at the time of their conversion.
The matter has been examined by the Ministry in consultation with the Ministry of Law & Justice. In response to the query as to whether rule 3 of CENVAT Credit Rules should be amended to allow CENVAT credit of CVD paid through DFCE scrips, the Ministry of Law has observed that “it is more a matter of policy and legal administration instead of interpretation, on which views may differ. However, it would be preferable to have scheme-specific concessions in the relevant specific notification as against general amendment to the rules.
G.S.R 638 (E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) and sub-section (3) of section 3 of Additional Duties of Excise.
The Stock Exchanges are advised to report to SEBI, the action taken in this regard in Section II, item no. 13 of the Monthly/Quarterly Development Report.
G.S.R.(E). – In exercise of the powers conferred by rule 12 of the Central Excise Rules, 2002 and sub-rule (7) of rule 9 of CENVAT Credit Rules, 2004, and in supersession of the notification of the Government of India in the Ministry of Finance.
