Foolish RBI suffers heavy losses by playing blind in forex market-sold dollars at lower rates to contain fall of Rupee-Rupee plunges to record low of 55.82 against Dollar-Sensex slips below 16000 Points 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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19th April, 2005

Notification No. 11/2005-Service Tax

n exercise of the powers conferred by rule 5 of the Export of Service Rules, 2005 (hereinafter referred to as the said rules), insofar as it relates to export of taxable services to the countries other than Nepal and Bhutan, the Central Government hereby directs that there shall be granted rebate of the whole of the service tax and cess paid on all taxable services exported in terms of rule 3 of the said rules, to any country other than Nepal and Bhutan, subject to the conditions, limitations and procedures specified hereinafter,-

2. Conditions and limitations:-

(a)	that the taxable service has been exported in terms of rule 3 of the said rules and payment for export of such taxable service has been received in India in convertible foreign exchange;
(b)	that the service tax and cess, rebate of which has been claimed, have been paid on the taxable service exported;
(c)	the amount of rebate of service tax and cess admissible is not less than five hundred rupees; and
(d)	that in case,-
	(i)	the service tax and cess, rebate of which has been claimed, have not been paid; or
	(ii)	the taxable service, rebate on which has been claimed, has not been exported,
	the rebate paid, if any, shall be recoverable with interest as per the provisions of section 73 and section 75 of the Finance Act, 1994 (32 of 1994) as if no service tax and cess have been paid on such taxable service.

3. Procedure:-

	(i)	claim of rebate of service tax and cess paid on all taxable services exported shall be filed with the jurisdictional Assistant Commissioner of Central Excise or Deputy Commissioner of Central Excise, as the case may be;
	(ii)	such application shall be accompanied by,–
		a.	documentary evidence of receipt of payment against taxable service exported and for which rebate is claimed, payment of service tax and cess on such taxable service exported;
		b.	a declaration that such taxable service, rebate of service tax and cess paid on such service is claimed, has been exported, in terms of rule 3 of the said rules, along with the documents evidencing the export of such taxable service;
(b)	The jurisdictional Assistant Commissioner of Central Excise or Deputy Commissioner of Central Excise, as the case may be, if satisfied that the claim is in order, shall sanction the rebate either in whole or in part.

Explanation,- “service tax and cess” for the purposes of this notification means,-

(a) service tax leviable under section 66 of the Finance Act, 1994; and

(b) education cess on taxable services levied under section 91 read with section 95 of the Finance (No.2) Act, 2004 (23 of 2004).

F. No. B2/4/2004-TRU

V. Sivasubramanian

Deputy Secretary to the Government of India

Annexure

FORM ASTR-1

(Application for filing a claim of rebate of service tax and cess paid on taxable services exported)

(PART A: To be filled by the applicant)

Date………….

Place…………

To,

Assistant Commissioner of Central Excise/Deputy Commissioner of Central Excise …………………………..(full postal address).

Madam/Sir,

I/We…………………………………..,(name of the person claiming rebate) holding service tax registration No. …………………………………………, located in………………………. (address of the registered premises) hereby declare that I/We have exported ………………………………………service (name of the taxable service) under rule 5 of the Export of Service Rules, 2005 to ……………………(name of the country to which service has been exported), and on which service tax amounting to ……………………. (amount in rupees of service tax) and education cess amounting to ……………………. (amount in rupees of cess) has been paid.

2. I/We also declare that the payment against such service exported has already been received in India in full…………………………………………………. (details of receipt of payment).

3. I/We request that the rebate of the taxable service exported by me/us in terms of rule 3 of the Export of Service Rules, 2005 may be granted at the earliest. The following documents are enclosed in support of this claim for rebate.

(Signature and name of the service provider or his authorised agent with date.)

(PART B: To be filled by the sanctioning authority)

Date of receipt of the rebate claim: ______________

Date of sanction of the rebate claim: ______________

Amount of rebate claimed: Rs. ______________

Amount of rebate sanctioned: Rs. ______________

If the claim is not processed within 15 days of the receipt of the claim, indicate briefly reasons for delay:

Place:

Date: Signature of the Assistant Commissioner/ Deputy Commissioner of Central Excise.