Budget to be presented on 16th March FM issues Advisory to CESTAT to ensure that orders are issued by Benches on conclusion of arguments and in complicated matters orders should be issued within 30 days Madras High Court stays levy of service tax on lawyers economic growth slows to 6.9 per cent Sunil Kumar appointed as Chief Secretary of Chattisgarh Amarchand Mangaldas to open offices in Chennai Ahmedabad & Pune US closes its embassy in Syria Sudha Sharma appointed as Member of CBDT Rupee hits a high of 48.73 against Dollar Laxman Das is Officiating Chairman of CBDT Tariff Value for import of gold is 556 & for silver 1067 & for Brass Scrap 4078 & for poppy seeds 2205-Customs Non-Tariff Notification No. 10 Fused Silica is classifiable under Tariff Item 32074000-Customs Circular No.3 Additional Commisssioner of Income Tax HA Siddiqui sentenced to 4 years imprisonment for accepting bribe of Rs 1 Lakh by CBI Court in Delhi HC upholds levy of service tax on booking of flats-The explanation which was inserted by the Finance Act of 2010 clearly brings within the fold of taxable service a construction service provided by the builder to a buyer where there is an intended sale between the parties whether before, during or after construction Authority for Advance Ruling rules super concentrates shall be classified as products of the chemical industry under heading 3824 90 90 of Customs Tariff Anti dumping duty imposed on import of Morpholine from China European Union & USA Anti dumping duty imposed on import of Geogrid/Geostrips/ Geostraps made of polyester or Glass fiber in all its forms from Refund of Anti-Dumping Duty (Paid in Excess of Actual Margin of Dumping) Rules, 2012 notified-Customs Non-Tariff Notification No.5 Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Amendment Rules, 2012-Customs Non-Tariff Notification No.6 Safeguard duty at the rate of 10% ad valorem notified on import of Phthalic anhydride, falling under tariff item 2917 35 00-Customs SG Notification No.1 Customs duty on import of Gold, Silver, Cut & Polished Diamonds hiked Customs duty to be charged at the rate of 2 per cent of Tariff Value on gold and 6 per cent of Tariff Value on silver Tariff Value for import of gold & silver notified-Customs Non-Tariff Notification No.3 Anti-dumping duty on imports ofSilk fabrics 20-100 gms per metre, falling under heading 5007 originating in, or exported from, China-CustomsTariff Notification No. 2 Anti-dumping duty imposed on imports of Nylon Filament Yarn, falling under Chapter 54 ,originating in, or exported from, China, Chinese Taipei, Malaysia, Thailand and Korea RP-Customs TariffNotification No.3 Anti-dumping duty imposed on import of Phosphoric Acid of allgrades and all concentrations (excluding Agriculture/Fertilizer Grade) ,falling under tariff item 28092010, originating in, or exported from, Israel and Taiwan-Customs Tariff Notification No.4 Anti-dumping duty on imports of Cellophane Transparent Film , falling under Chapter 39 , originating in, or exported from, China-Customs TariffNotification No.5 Anti-dumping duty onimports of Saccharin, falling under Chapters 29, 30, 33 and 38 ,originating in, or exported from, China-Customs Tariff Notification No.7 Special Bench of ITAT rules the appellant is not entitled to set off carry forward business loss against the long term capital gain arising on sale of land used for the purpose business ITAT rules Long Term and Short Term gains / losses on sale of equity shares under Portfolio Management Scheme is business income and not Capital Gains HC rules the opinion of the AO may have been legally erroneous but this cannot be a ground for initiation of re-assessment proceedings Anti-dumping duty on ‘Caustic Soda’, originating in, or exported from, Saudi Arabia, Iran, Japan, USA & France-Customs Tariff Notification No.1 Cost Accountants can issue Certificates for the purpose of refund of 4% CVD-Customs Circular No.1 Customs duty on import from ASEAN nations lowered- Customs Tariff Notification No.127 deeper tariff cut on import from Malaysia notified- Customs Tariff Notification No.128 deeper tariff cuts on import from Korea notified- Customs Tariff Notification No.123 deeper tariff cuts on import from Srilanka & Pakistan under SAFTA notified- Customs Tariff Notification No.125 Schedule of Rates for Service Tax Refund to Exporters notified in supersession of Notification No.17/2009-Service Tax Notification No. 52 Customs duty on import of several products from specified countries lowered-Customs Tariff Notification No.113 Anti-dumping duty on ‘Sodium Hydrosulphite (SHS)’, falling under headings 2831 and 2832 , originating in, or exported from, China PR- Customs Tariff Notification No.111 CBEC specifies documents required for Registration of ServiceTax Customs duty on import of 532 Products from Singapore lowered-many products exempted from duty-Customs Tariff Notification No. 106 Government allows Rebate of excise duty on export of goods to Nepal under ARE-1 Procedure w.e.f. 1st March 2012-Central Excise Non-Tariff Notification No.24
Customs on import from China Korea Bangladesh & Lanka lowered
AIT News Network
NEW DELHI. The Government has lowered Customs duty on import of 464 Products from China Korea SriLanka & Bangladesh with effect from 1st September 2006 under Asia –Pacific Trade Agreement(earlier known as Bangkok Agreement) vide Customs Tariff Notification No.89 .China Korea SriLanka & Bangladesh have also lowered Customs on Indian goods on reciprocal basis.
Rules of Determination of Origin of Goods under the Asia-Pacific Trade Agreement, (formerly known as the Bangkok Agreement ) Rules, 2006 have also been notified vide Customs Non-Tariff Notification No.94
The list of products and the extent of tariff concessions are as under:
On import from China Korea and Srilanka
S.No
Chapter, Heading No., Sub-Heading No., or tariff item
Description of goods
Extent of tariff concession (percentage of applied duty)
(1)
(2)
(3)
(4)
Part A
1
0301 to 0306
All goods
100
2
0801 11 00
14
3
0907
71
4
0908 10
5
0908 20 00
6
1513 19 00
7
1520 00 00
Glycerine (crude)
8
1703
33
9
1801 00 00
29
10
2504 10
11
2504 90
12
2510
13
2529 21 00
20
2529 22 00
15
2613 10 00
16
2803
17
2804 61 00
18
2804 70
19
2818 10 00
2820 10 00
21
2825 30
22
2825 60
23
2825 70
24
2825 80 00
25
2825 90
26
2826 90 00
27
2827 49 00
28
2835 10
2835 25 00
30
2901 10 00
31
2902 19 00
32
2902 90
2903 30
34
2903 49
35
2903 69
36
2905 45 00
37
2912 41 00
38
2912 49
39
2914 29
40
2914 50 00
41
2914 69
42
2915 50 00
43
2915 90
44
2916 12
45
2916 19
46
2916 39
47
2921 45
48
2922 21
49
2922 49
50
2926 20 00
51
2926 90 00
52
2930 90
53
2933 99 00
54
2934 99 00
55
3206 11
56
3209 90
57
3301 21 00
58
3301 29
59
3302 90
60
3304 10 00
61
3304 20 00
62
3304 30 00
63
3304 91
64
3304 99
65
3305 10
66
3305 20 00
67
3305 30 00
68
3306 10
69
3307 10
70
3307 90
3401 11
72
3402 20
73
3402 90
74
3407
75
3506 10 00
76
3506 99
77
3507 90
78
3602 00
79
3702 44
80
3801 10 00
81
3802 10 00
82
3806 90
83
3808 10
84
3808 20
85
3809 91
86
3812 10 00
87
3812 30
88
3814
89
3816 00 00
90
3823 12 00
91
3823 13 00
92
3823 19 00
93
3823 70
94
3824 30 00
95
3824 90
96
3906 10 10
97
3906 10 90
98
3907 10 00
99
4001 10
4001 21 00
101
4001 22 00
102
4001 29
103
4009 22 00
104
4009 32 00
105
4009 42 00
106
4010 11
107
4010 12
108
4011 10
109
4011 20
110
4011 30 00
111
4011 40
112
4011 50
113
4011 61 00
114
4011 62 00
115
4011 63 00
116
4011 69 00
117
4011 92 00
118
4011 93 00
119
4011 94 00
120
4011 99 00
121
4013
122
4016 91 00
Rubber Mats (other than of a kind used in motor vehicles)
123
4016 99 90
Rubber Rings
124
4104
125
4105
126
4106 21 00
127
4106 22 00
128
4303 10
Articles of apparel
129
4303 90
130
4304
131
4408 90
132
4409
133
4412 13
134
4412 19
135
4412 29
136
4412 99
137
4413 00 00
138
4414 00 00
139
4415
140
4417 00 00
141
4418 10 00
142
4418 20
143
4418 30 00
144
4418 90 00
145
4419
146
4420
147
4421 10 00
148
4421 90
149
4802 20
150
4802 30 00
151
4802 40 00
152
4802 54
Uncoated paper and paperboard of a kind used for printing and weighing less than 40 g/m2.
153
4802 58
Uncoated paper and paperboard of a kind used for printing and weighing less than 150 g/m2.
154
4805 11 00
Semi-Chemical fluting paper (corrugating medium)
155
4805 19 00
156
4805 30 00
157
4805 40 00
158
4805 50 00
159
4805 91 00
160
4805 92 00
161
4805 93 00
162
4806 40
163
4810 13
164
4810 14
165
4811 90
166
4814 20 00
167
4819 30 00
168
4819 40 00
169
4823 90
170
5001 00 00
171
5208 11
172
5208 12
173
5208 13
174
5208 19
175
5208 31
176
5208 33
177
5208 43
178
5208 51
179
5208 52
180
6005 31 00
181
6005 32 00
182
6005 33 00
183
6005 34 00
184
6005 41 00
185
6005 42 00
186
6005 43 00
187
6005 44 00
188
6006 31 00
189
6006 32 00
190
6006 33 00
191
6006 34 00
192
6006 41 00
193
6006 42 00
194
6006 43 00
195
6006 44 00
196
6802 21 90
Of travertine and alabaster
197
6802 91 00
198
6804 22
199
6806 10 00
200
6809 11 00
Gypsum plaster board
201
6809 19 00
202
6810 91 00
203
6902 10
204
6907
Ceramic Tiles
205
6908
206
7004 90
207
7007 11 00
208
7007 19 00
209
7007 21
210
7010 90 00
211
7013 29 00
212
7013 39 00
213
7013 99
214
7016 90 00
215
7018 90
216
7019 12 00
217
7019 19 00
218
7019 39 00
219
7019 90
220
7020
221
7101 22 00
222
7102 31 00
223
7102 39
224
7104 90 00
225
7105 10 00
226
7106 91 00
227
7110 21 00
228
7113 11
229
7114 11
230
7117 90
231
7202 21 00
232
7202 29 00
233
7304
GI/MS Pipes (Seamless tubes)
234
7410 21 00
235
7615 19
236
7801 99
237
8101 10 00
238
8101 94 00
239
8101 95
240
8101 96 00
241
8103 20
242
8103 90 00
243
8104 30
244
8104 90
245
8106
246
8108 90
247
8110 10 00
248
8110 20 00
249
8110 90 00
250
8201 40 00
251
8201 60 00
252
8201 90 00
253
8202 10
254
8202 31 00
255
8202 39 00
256
8202 99
257