Rupee plunges to record low of 55.47 against Dollar Justice VS Sirpurkar is Chairman of Competition Appellate Tribunal AK Pandey appointed as High Commissioner to New Zealand Facebook shares drop below issue price FM okays transfer & posting orders of Commissioners of Customs & Excise-A dozen Commissioners posted in NCR in transfer list-Commissioner Gurgaon & Ghaziabad also in the list according to North Block sources Government tables White Paper on Black Money in Parliament India's first Interactive Online Course on Service Tax launched-Click on the link-Service Tax Online Certification Course-for full details and registration-Course begins on 22nd May 167 IRS(Customs & Excise) Probationers get postings- A dozen Probationers posted in Delhi Central Excise Rajya Sabha passes Finance Bill 2012 Petrol & Diesel prices to be hiked Tariff Value for import of Brass scrap is 4362 & for poppy seeds 3680-for gold 507 per 10 gram & for silver 920 per kg-Customs Non-Tariff Notification No.42 Customs duty exempted on import of 191 Products from Singapore-Customs Tariff Notification No.33 Import of 485 Products from Singapore exempted from Customs duty-Customs Tariff Notification No.34 Import of 496 Products from Singapore exempted from 50 per cent of applied rate of duty-Customs Tariff Notification No.35 Saurabh Chandra gets additional charge of Commerce Secretary ITAT Member N Vasudevan transferred from Mumbai to Bangalore-J Sudhakar Reddy moves from Mumbai to Delhi-IP Bansal from Delhi to Mumbai-IC Sudhir from Pune to Delhi CVD on imported electronics lowered due to higher rates of abatement from RSP notified-Abatement from MRP for excise payment on all electronic products prescribed at uniform rate of 35 per cent-Abatement revised for several products-Central Excise Non-Tariff Notification No.26 Suppliers to Mega Power Projects face silly excise demands-Click on the link below for full details Excise demand of Rs 32 Crore confirmed against Exide for not paying excise on MRP basis on lead acid storage battery RBI says Exporters required to convert 50 per cent of their foreign exchange holdings into Rupee within 15 days-Exporters will be allowed to buy foreign currency only after utilizing all their foreign currency holdings Articles of jewellery exempted from excise duty-Specified Railway Goods manufactured by Government exempted from excise -Central Excise Tariff Notification No.23 Excise on specified Petroleum Oils lowered Eye makeup preparations exempted from excise The excise exemption hitherto admissible on all Hawai Chappals will now be admissible to only Hawai Chappals of RSP up to Rs 500-Polyester staple fibre or polyester filament yarn, manufactured from plastic scrap or plastic waste including waste polyethylene terephthalate bottles exempted from excise-Excise on Motor chassis for vehicles lowered to 14 per cent excise-Excise on LED Lights of Chapter 85 lowered to 6 per cent-Inks for ball point pens exempted from excise-Central Excise Tariff Notification No.24-Parts of Footwear and hawai chappals of RSP not exceeding Rs. 500 per pair exempted from excise if consumed in factory-Central Excise Tariff Notification No.25-Excise exemption to goods required for initial setting up of solar power generation project or facility-Central Excise Tariff Notification No.26 CENVAT Credit (Fifth Amendment) Rules, 2012-No reversal of credit required for supplies made for setting up of solar power generation projects or facilities-Central Excise Non-Tariff Notification No.25 exemption from wholeof the additional duty leviable shall not apply to Hand held Metal/Mine/Bomb detectors etc.-Customs Tariff Notification No.30 Import of specified goods allowed at concessional rate of duty-Customs Notification No.31 FM defers the applicability of GAAR provisions by one year- GAAR provisions will now apply to income of Financial Year 2013-14 and subsequent years-The retrospective clarificatory amendments now under consideration of Parliament will not be used to reopen any cases where assessment orders have already been finalized-long term capital gain arising from sale of unlisted securities in case of non-resident investors, including PE investors lowered to 10 per cent-FM extends benefit of tax exemption on long term capital gains to sale of unlisted securities in IPO-lower rate of withholding tax of 5% for funding all businesses-FM withdraws the provision for levy of TDS on transfer of immovable property-FM raises the threshold limit for TCS on cash purchases of jewellery to Rs.5 lakh-only serious offences under the customs law involving prohibited goods or duty evasion exceeding Rs.50 lakh, shall be cognizable- all these offences shall be bailable-changes in the definition of “service” which will exclude the activities specified in the Constitution as “deemed sale of goods”-The definition of “works contract” also enlarged to include movable properties- Exemption for specified services relating to agriculture in the Negative List extended to agricultural produce enlarging the scope of the entry Anti-dumping duty on imports of Partially Oriented Yarn, originating in, or exported from China-Customs Notification No.22 Customs duty on import of 806 Products from Japan lowered Anti-dumping duty imposed on import of Phosphoric Acid of all grades and all concentrations (excluding Agriculture/FertilizerGrade) , falling under tariff item 28092010, originating in, or exported from,Israel and Taiwan-Customs Tariff Notification No.19 Customs duty on import of composite fertiliser lowered to 1 per cent-Customs Tariff Notification No. 24

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CHAPTER XII PROVISIONS RELATING TO COASTAL GOODS AND VESSELS CARRYING COASTAL GOODS

SECTION 91.Chapter not to apply to baggage and stores.

The provisions of this Chapter shall not apply to baggage and stores.

SECTION 92. Entry of coastal goods.

(1) The consignor of any coastal goods shall make an entry thereof by presenting to the proper officer a bill of coastal goods in the prescribed form.

(2)Every such consignor while presenting a bill of coastal goods shall, at the foot thereof, make and subscribe to a declaration as to the truth of the contents of such bill.

SECTION 93. Coastal goods not to be loaded until bill relating thereto is passed, etc.

The master of a vessel shall not permit the loading of any coastal goods on the vessel until a bill relating to such goods presented under section 92 has been passed by the proper officer and has been delivered to the master by the consignor.

SECTION 94. Clearance of coastal goods at destination.

(1) The master of a vessel carrying any coastal goods shall carry on board the vessel all bills relating to such goods delivered to him under section 93 and shall, immediately on arrival of the vessel at any customs or coastal port, deliver to the proper officer of that port all bills relating to the goods which are to be unloaded at that port.

(2)Where any coastal goods are unloaded at any port, the proper officer shall permit clearance thereof if he is satisfied that they are entered in a bill of coastal goods delivered to him under sub-section (1).

SECTION 95. Master of a coasting vessel to carry an advice book.

(1) The master of every vessel carrying coastal goods shall be supplied by the Customs authorities with a book to be called the “advice book”.

(2)The proper officer at each port of call by such vessel shall make such entries in the advice book as he deems fit, relating to the goods loaded on the vessel at that port.

(3)The master of every such vessel shall carry the advice book on board the vessel and shall on arrival at each port of call deliver it to the proper officer at that port for his inspection.

SECTION 96. Loading and unloading of coastal goods at customs port or coastal port only.

No coastal goods shall be loaded on, or unloaded from, any vessel at any port other than a customs port or a coastal port appointed under section 7 for the loading or unloading of such goods.

SECTION 97. No coasting vessel to leave without written order.

(1) The master of a vessel which has brought or loaded any coastal goods at a customs or coastal port shall not cause or permit the vessel to depart from such port until a written order to that effect has been given by the proper officer.

(2)No such order shall be given until -

(a)the master of the vessel has answered the questions put to him under section 38;

(b)all charges and penalties due in respect of that vessel or from the master thereof have been paid or the payment secured by such guarantee or deposit of such amount as the proper officer may direct;

( c)the master of the vessel has satisfied the proper officer that no penalty is leviable on him under section 116 or the payment of any penalty that may be levied upon him under that section has been secured by such guarantee or deposit of such amount as the proper officer may direct;

(d)the provisions of this Chapter and any rules and regulations relating to coastal goods and vessels carrying coastal goods have been complied with.

SECTION 98. Application of certain provisions of this Act to coastal goods, etc.

(1) Sections 33, 34 and 36 shall, so far as may be, apply to coastal goods as they apply to imported goods or export goods.

(2)Sections 37 and 38 shall, so far as may be, apply to vessels carrying coastal goods as they apply to vessels carrying imported goods or export goods.

(3)The Central Government may, by notification in the Official Gazette, direct that all or any of the other provisions of Chapter VI and the provisions of section 45 shall apply to coastal goods or vessels carrying coastal goods subject to such exceptions and modifications as may be specified in the notification.

SECTION 98A. Power to relax.

If the Central Government is satisfied that it is necessary in the public interest so to do it may, by notification in the Official Gazette, exempt generally, either absolutely or subject to such conditions as may be specified in the notification, coastal goods or vessels carrying coastal goods from all or any of the provisions of this Chapter.

SECTION 99.Power to make rules in respect of coastal goods and coasting vessels. – The Central Government may make rules for

(a)preventing the taking out of India of any coastal goods the export of which is dutiable or prohibited under this Act or any other law for the time being in force;

(b)preventing, in the case of a vessel carrying coastal goods as well as imported or export goods, the substitution of imported or export goods by coastal goods.