CBEC notifies Exchange Rate to calculate custom duty for the Month of April 2012

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, SUB-SECTION (ii), EXTRAORDINARY]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF REVENUE

CENTRAL BOARD OF EXCISE AND CUSTOMS

Notification No. 26 / 2012 - Customs (N.T.)

Dated 28^th March, 2012

8 Chaitra, 1934(SAKA)

            S.O.       (E). – In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.14/2012-CUSTOMS (N.T.), dated the 27^th February, 2012vide number S.O. 338 (E), dated the 27^th February, 2012, except as respects things done or omitted to be done before such super session, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and  Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 1^st April, 2012 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

SCHEDULE-I

S.No.	Foreign Currency	Rate of exchange of one unit of foreign currency equivalent to Indian rupees
(1)	(2)	(3)
		(a)	(b)
		(For Imported Goods)	(For Export Goods)
1.	Australian Dollar	54.30	53.05
2.	Canadian Dollar	52.15	50.90
3.	Danish Kroner	9.30	9.05
4.	EURO	69.00	67.40
5.	Hong Kong Dollar	6.65	6.50
6.	Norwegian Kroner	9.15	8.85
7.	Pound Sterling	82.50	80.70
8.	Swedish Kroner	7.80	7.55
9.	Swiss Franc	57.20	55.80
10.	Singapore Dollar	41.00	40.15
11.	US Dollar	51.50	50.65

SCHEDULE-II

S.No.	Foreign Currency	Rate of exchange of 100 units of foreign currency equivalent to Indian rupees
(1)	(2)	(3)
		(a)	(b)
		(For Imported Goods)	(For Export Goods)
1.	Japanese Yen	62.45	60.80

[F.No.468/06/2012-Cus.V]

(ABHINAV GUPTA)

UNDER SECRETARY TO THE GOVT. OF INDIA

TELE: 2309 4610

CBEC clarifies applicability of exemption under Sr. No. 4 of the Notification 4/2006-CE dated 01/03/2006

 Circular No.09 / 2012 – Customs

F. No. 528/11/2012-STO (TU)

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise & Customs

229A, North Block, New Delhi,

23^rd March, 2012.

To

All Chief Commissioners / Commissioner of Customs / Customs (Prev.)

All Chief Commissioners / Commissioner of Customs & Central Excise

All Commissioners of Customs (Appeals)

All Commissioners of Customs & Central Excise (Appeals)

All Directors General under CBEC.

Subject:  Applicability of exemption under Sr. No. 4 of the Notification 4 / 2006 - CE dated 1/3/2006 on import of Ore Concentrates - regarding.

Sir / Madam,

Doubts have been raised whether on imports of Ore Concentrate classifiable under Chapter 26 of the First Schedule to the Customs Tariff Act, 1975, the benefit that is admissible to “Ore” under Serial Number 4 of the Notification No. 4/2006 – CE dated 1.3.2006 can be granted to the “Concentrate” of that Ore. The issue was taken up for discussion during the Conference of Chief Commissioners of Customs on Tariff and allied matters held in May 2011.

CBEC clarifies on Levy of Excise Duty on Precious Metal Jewellery

PRESS INFORMATION BUREAU

GOVERNMENT OF INDIA

*****

CBEC CLARIFIES ON LEVY OF EXCISE DUTY ON PRECIOUS METAL JEWELLERY

New Delhi.: Phalguna 30, 1933

March 20, 2012

Press reports after the presentation of the budget on 16.03.2012 indicate that the full import of the provisions contained in the legislation related to the levy of excise duty of 1% on precious metal jewellery are not clear to the trade.

In the Budget for 2011-12, full exemption from Central Excise duty was withdrawn on 130 items which were being charged to State VAT in a bid to signal movement towards the Goods and Services Tax (GST). As part of this proposal, with effect from 1st March, 2011, Government levied an excise duty of 1% on precious metal jewellery – but only on goods manufactured or sold under a brand name. This rate was applicable if no Cenvat credit of duty paid on inputs or input services is taken. There have been disputes about the interpretation of the term “branded” jewellery as unlike other goods the brand name is not always affixed on the goods themselves.

Tariff Value Notified by CBEC for Palm Oil, Palmolien, Crude Soyabean Oil, Brass Scarp, Poppy Seed, Gold & Silver

[TO BE PUBLISHED IN PART-II, SECTION-3, SUB-SECTION (ii) OF THE GAZETTE OF INDIA, EXTRAORDINARY]

Government of India

Ministry of Finance

(Department of Revenue)

(Central Board of Excise and Customs)

Notification No. 24/2012 - Customs (N. T.)

New Delhi, 22^nd of  March, 2012

2 Chaitra, 1934 (SAKA)

            S.O.    (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.) dated, the 3^rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) vide number S. O. 748 (E), dated the 3^rd August, 2001, namely:-

In the said notification, for TABLE-1 and TABLE-2, the following Tables shall be substituted namely:-

“TABLE-1

S. No.	Chapter/ heading/ sub-heading/tariff item	Description of goods	Tariff value US $ (Per Metric Tonne)
(1)	(2)	(3)	(4)
1	1511 10 00	Crude Palm Oil	447 (i.e. no change)
2	1511 90 10	RBD Palm Oil	476 (i.e. no change)
3	1511 90 90	Others – Palm Oil	462 (i.e. no change)
4	1511 10 00	Crude Palmolein	481 (i.e. no change)
5	1511 90 20	RBD Palmolein	484 (i.e. no change)
6	1511 90 90	Others – Palmolein	483 (i.e. no change)
7	1507 10 00	Crude Soyabean Oil	580 (i.e. no change)
8	7404 00 22	Brass Scrap (all grades)	4214 (i.e. no change)
9	1207 91 00	Poppy seeds	2439 (i.e. no change)

TABLE-2 

S. No.	Chapter/ heading/ sub-heading/ tariff item	Description of goods	Tariff value (US $)
(1)	(2)	(3)	(4)
1	71	Gold, in any form in respect of which the benefit of entry at Sr. No. 321 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed	530 per 10 grams
2	71	Silver, in any form in respect of which the benefit of entry at Sr. No. 322 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed	1036 per kilogram(i.e. no change)”

[F. No. 467/01/2012-Cus.V]

(Abhinav Gupta)

Under Secretary to the Government of India

Note: - The principal notification was published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) vide Notification No. 36/2001–Customs (N.T.) dated, the 3^rd August, 2001, vide number S. O. 748 (E), dated, the 3^rd August, 2001 and was last amended vide Notification No. 23/2012-Customs (N.T.) dated, the 22^nd March, 2012, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number  S. O. ________ (E) dated, the 22^nd March, 2012.