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Archive: September, 2008

Posts in September, 2008

Tribunal, in no circumstances whatsoever, can be led to take a different view on same facts and law on which Jurisdictional High Court has already taken a view

September 19, 2008 418 Views 0 comment Print

n this decision, vide order dated 15.9.2008, the Hon’ble Apex Court had held that even a decision of Apex Court or Jurisdictional High Court rendered subsequent to the Tribunal decision can render the said Tribunal decision liable of rectification of mistake apparent from record. In view of the aforesaid discussion and precedent, we are inclined to dismiss this appeal by the Revenue on account of tax effect, when on similar facts Hon’ble Jurisdictional High Court has dismissed the Revenue’s case on tax effect.

Notification No. 42 (RE-2008)/2004-2009, Dated: 18.09.2008

September 18, 2008 277 Views 0 comment Print

An exporter may apply for credit, at specified percentage of FOB value of exports, made in freely convertible currency. In case of supply by a DTA Unit to a SEZ Unit /SEZ Developer / Co-Developer, an exporter may apply for credit for exports made in freely convertible currency or payment made from foreign currency account of SEZ Unit / SEZ Developer /Co-Developer. In addition, the exporter shall also be entitled for DEPB benefit in case payment is made in Indian Rupees by SEZ Developer / Co-Developer for supplies received w.e.f 10.2.2006.

Notification No. 41 (RE-2008)/2004-09, Dated: 18.09.2008

September 18, 2008 250 Views 0 comment Print

Importers of the aforementioned items of agglomerated/artificial stones, wishing to avail Transitional Arrangements under Para 1.5 of the Foreign Trade Policy, 2004-09, as amended from time to time, may apply to DGFT Headquarters, New Delhi within two weeks of issue of this Notification, along with details of their respective LCs and contracts.

Public Notice No. 83 (RE-2008)/2004-2009, Dated: 18.09.2008

September 18, 2008 196 Views 0 comment Print

In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-09, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures, Vol. I RE2008.

Notification No. 105/2008-Customs Duty, dated 18-09-2008

September 18, 2008 310 Views 0 comment Print

For the purposes of this notification, “rate of exchange” applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is specified in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers conferred by section 14 of the Customs Act 1962 (52 of 1962), and the relevant date for the determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Act.

Notification No. 40 (RE-2008)/2004-2009, Dated: 17.09.2008

September 17, 2008 142 Views 0 comment Print

In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes, with immediate effect, the following amendments to Notification No.32 (RE-2008)/2004-2009, dated 19th August, 2008.

Public Notice No. 82 (RE-2008)/2004-2009, Dated: 17.09.2008

September 17, 2008 286 Views 0 comment Print

PUBLIC NOTICE NO. 82/(RE:2008)/2004-2009 In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.2), 2004-2009, as amended from time to time, amendments/corrections at appropriate places as mentioned in ANNEXURE A to this Public Notice are made.

Sec 234A Interest cannot be levied on delayed ROI if SA tax is paid before due date

September 17, 2008 15708 Views 0 comment Print

Since the tax due had already been paid which was not less than the tax payable on the returned income which was accepted, the question of levy of interest Under Section 234A does not arise.

Notification No. 39 (RE-2008)/2004-2009, Dated: 16.09.2008

September 16, 2008 538 Views 0 comment Print

In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes amendments to Notification No.93(RE-2007)/2004-2009 dated 1st April, 2008 read with Notification No. 37 (RE-2008)/2004-09 dated 3rd September, 2008.

Amends notification No. 36/2001-Customs Duty (N.T.), dated, 3rd August 2001

September 16, 2008 157 Views 0 comment Print

The Principal notification was published in the Gazette of India, Extraordinary, vide Notification No.36/2001 – Customs (N.T.), dated, the 3rd August, 2001 (S.O.748 (E), dated, the 3rd August, 2001) and was last amended vide Notification No. 104/2008-Customs (N.T.), dated, the 1st September, 2008 (S.O. 2144 (E) dated 1st September, 2008).

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