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The Central Government has issued the following five notifications on December 31, 2004.
1. 118/2004-Customs Dated 31.12.2004
2. 119/2004-Customs Dated 31.12.2004
3. 56/2004-Central Excise Dated 31.12.2004
4. 57/2004-Central Excise Dated 31.12.2004
5. 36/2004-Service Tax Dated 31.12.2004
Notification No. 118/2004-Customs reduces the customs duty on imported seconds and defectives of iron and steel from 40% to 20%
Notification No. 119/2004-Customs as given full exemption from customs duty on specified parts used in the manufacture of static converters for automatic data processing machines and units thereof.
Notification No. 56/2004-Central Excise prescribes excise duty of Rs. 1.25 per Kg on inter-esterified oils which is a similar product that of Vanaspati. Vanaspati is leviable to excise duty at Rs. 1.25 per kg. Consequently, excise duty is levied at the same rate both for Vanaspati and inter-esterified oils.
Notification No. 57/2004-Central Excise provides excise duty exemption of 50% to paper and paper board manufactured by Nagaon paper mill or Cachar paper mill of Hindustan Paper Corporation.
Notification No. 36/2004-Service Tax notifies specified taxable services such as services provided by Goods Transport Agency, under section 68(2) of the Finance Act, 1994, wherein the service tax is paid by a person other than the service provider.
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