spacer.gifsto247.gifspacer.gif Date of filing of ST-3 returns extended - returns for April to June, 2012 to be filed by 25th November, 2012 only.spacer.gifsto247.gifspacer.gif BREAKING NEWS : Service Tax half yearly ST-3 return to cover period from April, 2012 to June, 2012 only (ST Notification 47/2012)spacer.gifsto247.gifspacer.gif All Service Tax assessees are informed that they will not be able to file ST 3 returns in ACES now and have to wait until the modified version of ST 3 Form which is made available in a few weeks on aces.spacer.gifsto247.gifspacer.gif Penalty: Section 76: No delay in depositing service tax with Revenue: Penalty not imposable.spacer.gifsto247.gifspacer.gif Refund: Export of Services: Terminal Handling Charges also a port service.spacer.gifsto247.gifspacer.gif Penalty: Once the entire demand is set aside by Commissioner (A) and that order is not challenged by the department: Commissioner cannot impose penalty under Section 76 by passing a Review Order: Penalty set aside.spacer.gifsto247.gifspacer.gif Cargo Handling Service: The activity of transportation and stacking within the stockyard premises not covered: Demand set aside.spacer.gifsto247.gifspacer.gif Finance Act, 2012spacer.gifsto247.gifspacer.gifDefinitions introduced in Section 65C, Section 66B (Charge of Service Tax), Section 66C (Determination of Place of Provision of Service), Section 66D (Negative List), Section 66E (Declared Services), Section 66F (Bundled Services), Amendment to Section 67 (omitting of Explanation, Amendment to Section 68 (sharing of taxes between provider and receiver) would operate from 01.07.2012.spacer.gifsto247.gifspacer.gifThe notifications amending Cenvat Credit Rules, Valuation Rules, Service Tax Rules, Works Contract Composition Scheme have not been issued.spacer.gifsto247.gifspacer.gifSection 65, 65A, 66 & 66A would cease to operate from 01.06.2012spacer.gifsto247.gifspacer.gifThe clause (A), (B), (D) & (E) of Section 143 of the Finance Act,2012 will come into force from 01.06.2012 as per Notification No.18/2012 dated 01.06.2012spacer.gifsto247.gifspacer.gifNegative list based service tax will come into force from 1st july 2012spacer.gifsto247.gifspacer.gifFinance Bill, 2012; gets enacted on May 28, 2012 : Finance Act (No 23 of 2012)spacer.gifsto247.gifspacer.gif Aam aadmi becomes khaas aadmi spacer.gifsto247.gifspacer.gifCentral Excise and Service Tax returns combined into a one page form "EST-1"spacer.gifsto247.gifspacer.gifCentral Excise rates increased from 10 % to 12%spacer.gifsto247.gifspacer.gifService Tax Rate to be 12%  spacer.gifsto247.gifspacer.gif Date of filing of ST-3 returns extended - returns for April to June, 2012 to be filed by 25th November, 2012 only.spacer.gifsto247.gifspacer.gif BREAKING NEWS : Service Tax half yearly ST-3 return to cover period from April, 2012 to June, 2012 only (ST Notification 47/2012)spacer.gifsto247.gifspacer.gif All Service Tax assessees are informed that they will not be able to file ST 3 returns in ACES now and have to wait until the modified version of ST 3 Form which is made available in a few weeks on aces.spacer.gifsto247.gifspacer.gif Penalty: Section 76: No delay in depositing service tax with Revenue: Penalty not imposable.spacer.gifsto247.gifspacer.gif Refund: Export of Services: Terminal Handling Charges also a port service.spacer.gifsto247.gifspacer.gif Penalty: Once the entire demand is set aside by Commissioner (A) and that order is not challenged by the department: Commissioner cannot impose penalty under Section 76 by passing a Review Order: Penalty set aside.spacer.gifsto247.gifspacer.gif Cargo Handling Service: The activity of transportation and stacking within the stockyard premises not covered: Demand set aside.spacer.gifsto247.gifspacer.gif Finance Act, 2012spacer.gifsto247.gifspacer.gifDefinitions introduced in Section 65C, Section 66B (Charge of Service Tax), Section 66C (Determination of Place of Provision of Service), Section 66D (Negative List), Section 66E (Declared Services), Section 66F (Bundled Services), Amendment to Section 67 (omitting of Explanation, Amendment to Section 68 (sharing of taxes between provider and receiver) would operate from 01.07.2012.spacer.gifsto247.gifspacer.gifThe notifications amending Cenvat Credit Rules, Valuation Rules, Service Tax Rules, Works Contract Composition Scheme have not been issued.spacer.gifsto247.gifspacer.gifSection 65, 65A, 66 & 66A would cease to operate from 01.06.2012spacer.gifsto247.gifspacer.gifThe clause (A), (B), (D) & (E) of Section 143 of the Finance Act,2012 will come into force from 01.06.2012 as per Notification No.18/2012 dated 01.06.2012spacer.gifsto247.gifspacer.gifNegative list based service tax will come into force from 1st july 2012spacer.gifsto247.gifspacer.gifFinance Bill, 2012; gets enacted on May 28, 2012 : Finance Act (No 23 of 2012)spacer.gifsto247.gifspacer.gif Aam aadmi becomes khaas aadmi spacer.gifsto247.gifspacer.gifCentral Excise and Service Tax returns combined into a one page form "EST-1"spacer.gifsto247.gifspacer.gifCentral Excise rates increased from 10 % to 12%spacer.gifsto247.gifspacer.gifService Tax Rate to be 12%
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Final Duty

The Designated Authority after receipt of an application from Domestic Industry for imposing of anti-dumping duty on any product or goods conducts preliminary screening and submits his preliminary findings, on the basis of which provisional Ant-dumping duty is imposed by the Ministry of Finance. After investigation the Designated Authority through Government of India, Gazette notifies his final findings determining the extent of margin of dumping. Based on the final findings the final Anti-dumping duty is imposed. While the Designated Authority in the Department of Commerce recommends the final anti dumping duty, it is the Ministry of Finance, Dept. of Revenue which acts upon such recommendation within three months and imposes/levies such duty. 

Under the WTO arrangement, the National Authorities can impose duties upto the margin of dumping i.e. the difference between the normal value and the export price. The Indian law also provides that the anti-dumping duty to be recommended/levied shall not exceed the dumping margin.

The margin of dumping is the difference between the Normal Value i.e. the price in the domestic market of the foreign exporter, or if there are no domestic sales, the price at which it is exported to another country or the constructed cost of production and the “export price” at which goods are exported to India. If goods are exported to India at prices below the “Normal Value”, there is a positive dumping margin.

 

The Rule 18 of the Anti-dumping Rules, 1995 empowers the Central Government to impose anti-dumping duty on import of any article within three months of the date of publication of final findings by the Designated Authority. The anti-dumping duty so imposed cannot exceed the margin of dumping determined the Designated Authority.

In cases where the Designated Authority has selected percentage of the volume of the exports from a particular country, the anti-dumping duty applied to imports from exporters or producers not included in the examination shall not exceed –

(i) the weighted average margin of dumping established with respect to the selected exporters or producers or,

(ii) where the liability for payment of anti-dumping duties is calculated on the basis of a prospective normal value/ the difference between the weighted average normal value of the selected exporters or producers and the export prices of exporters or producers not individually examined:

While imposing the anti-dumping duty the Central Government shall disregard any zero margin, margins which are less than 2 per cent expressed as the percentage of export price and margins established on the basis of the facts available to the Designated Authority where an interested party refuses access to or does not provide necessary information within a reasonable period, or significantly impedes the investigation. The Central Government shall apply individual duties to imports from any exporter or producer not included in the examination who has provided the necessary information during the course of the investigation.

Where a domestic industry has been interpreted according to the proviso to sub-clause (b) of rule 2 of the Anti Dumping Rules, 1995, a duty shall be levied only after the exporters have been given opportunity to cease exporting at dumped prices to the area concerned or otherwise give an undertaking to revise the prices and such undertaking has not been promptly given and in such cases duty shall not be levied only on the articles of specific producers which supply the area in question.

If the final finding of the designated authority is negative that is contrary to the evidence on whose basis the investigation was initiated, the Central Government shall, within forty-five days of the publication of final findings by the designated authority withdraw the provisional duty imposed.

As per Rule 20 of the Anti-Dumping Rules, 1995 the anti-dumping final anti-dumping duty levied shall take effect from the date of its publication in the Official Gazette. Where a provisional duty has been levied and where the designated authority has recorded a final finding of injury or where the designated authority has recorded a final finding of threat of injury and a further finding that the effect of dumped imports in the absence of provisional duty would have led to injury, the anti-dumping duty can be levied from the date of imposition of provisional duty.

The Central Government can also levy antidumping duty retrospectively from the date commencing ninety days prior to the imposition of provisional anti-dumping duty. However no duty can be levied retrospectively on imports entered for home consumption before initiation of the investigation. In the cases of violation of price undertaking, no duty can be levied retrospectively on the imports which have entered for home consumption before the violation of the terms of such undertaking. In case of violation of such undertaking, the provisional duty shall be deemed to have been levied from the date of violation of the undertaking or such date as the Central Government may specify in each case.

             
 
              
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