Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
Exchange
Rate of Foreign Currency Relating to Imported and Export Goods Notified
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 Central Board of Excise &
Customs (CBEC) No.68/2015-CUSTOMS (N.T.), dated 16th July,
2015, except as respects things done or omitted to be done before such
supersession, the Central Board of Excise & Customs (CBEC) hereby
determines that the rate of exchange of conversion of each of the foreign
currencies specified in column (2) of each of Schedule I
and Schedule II annexed hereto, into Indian currency or vice
versa, shall, with effect from 7th August, 2015,
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
|
Sl.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
|
47.45
|
46.20
|
|
|
2.
|
Bahrain Dinar
|
174.45
|
164.30
|
|
|
3.
|
Canadian
Dollar
|
49.00
|
47.95
|
|
|
4.
|
Danish Kroner
|
9.45
|
9.20
|
|
|
5.
|
EURO
|
70.45
|
68.85
|
|
|
6.
|
Hong Kong Dollar
|
8.30
|
8.15
|
|
|
7.
|
Kuwait Dinar
|
216.60
|
204.50
|
|
|
8.
|
New Zealand Dollar
|
42.30
|
41.15
|
|
|
9.
|
Norwegian Kroner
|
7.85
|
7.65
|
|
|
10.
|
Pound Sterling
|
100.85
|
98.60
|
|
|
11.
|
Singapore Dollar
|
46.60
|
45.60
|
|
|
12.
|
South African Rand
|
5.15
|
4.85
|
|
|
13.
|
Saudi Arabian Riyal
|
17.50
|
16.55
|
|
|
14.
|
Swedish Kroner
|
7.45
|
7.25
|
|
|
15.
|
Swiss Franc
|
66.00
|
64.45
|
|
|
16.
|
UAE Dirham
|
17.85
|
16.90
|
|
|
17.
|
US Dollar
|
64.35
|
63.30
|
|
SCHEDULE-II
|
Sl.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
|
51.75
|
50.60
|
|
|
2.
|
Kenya Shilling
|
64.95
|
61.25
|
|
|
|
||||
*******
CBDT Signs Advance Pricing Agreements (APAs) to Usher in Certainity in
Taxation
As a part of a major initiative to usher in certainty in taxation, the
Central Board of Direct Taxes (CBDT) entered into two unilateral Advance
Pricing Agreements (APAs) on 3 August, 2015 with two Multi-National Companies
(MNCs) which includes the first APA with a “Rollback” provision. With this, the
CBDT has so far signed 14 APAs of which 13 are unilateral APAs and one is a
bilateral APA. The 14 APAs signed relate to various sectors like
telecommunication, oil exploration, pharmaceuticals, finance/banking, software
development services and ITeS (BPOs).
Unilateral APAs are agreed between Indian taxpayers and the CBDT, without involvement of the tax authorities of the country where the associated enterprise is based. Bilateral APAs include agreements between the tax authorities of the two countries. An APA with the “Rollback” provision extends tax certainty for nine financial years as against five years in APAs without “Rollback”.
APAs settle transfer prices and the methods of setting prices of international transactions in advance. The Government is committed to conclude a large number of APAs to foster an environment of tax cooperation and certainty. Currently, a number of unilateral as well as bilateral APAs with Competent Authorities of UK and Japan etc are at advanced stage of negotiations.
A Framework Agreement was recently signed with United States under the Mutual Agreement Procedure (MAP) provision of the India-US Double Taxation Avoidance Convention (DTAC). This is a major positive development. About 200 past transfer pricing disputes between the two countries in Information Technology (Software Development) Services [ITS] and Information Technology enabled Services [ITeS] segments are expected to be resolved under this Agreement during the current year. So far, 35 disputes have been resolved and another 100 are likely to be resolved in the next three months.
The Framework Agreement with the US opens the door for signing of bilateral APA with the US. The MAP programs with other countries like Japan and UK are also progressing very well with regular meetings and resolution of past disputes. These initiatives will go a long way in providing stable tax environment to foreign investors doing business in India.
Unilateral APAs are agreed between Indian taxpayers and the CBDT, without involvement of the tax authorities of the country where the associated enterprise is based. Bilateral APAs include agreements between the tax authorities of the two countries. An APA with the “Rollback” provision extends tax certainty for nine financial years as against five years in APAs without “Rollback”.
APAs settle transfer prices and the methods of setting prices of international transactions in advance. The Government is committed to conclude a large number of APAs to foster an environment of tax cooperation and certainty. Currently, a number of unilateral as well as bilateral APAs with Competent Authorities of UK and Japan etc are at advanced stage of negotiations.
A Framework Agreement was recently signed with United States under the Mutual Agreement Procedure (MAP) provision of the India-US Double Taxation Avoidance Convention (DTAC). This is a major positive development. About 200 past transfer pricing disputes between the two countries in Information Technology (Software Development) Services [ITS] and Information Technology enabled Services [ITeS] segments are expected to be resolved under this Agreement during the current year. So far, 35 disputes have been resolved and another 100 are likely to be resolved in the next three months.
The Framework Agreement with the US opens the door for signing of bilateral APA with the US. The MAP programs with other countries like Japan and UK are also progressing very well with regular meetings and resolution of past disputes. These initiatives will go a long way in providing stable tax environment to foreign investors doing business in India.
Smt. Harsimrat Kaur Badal Lays the Foundation Stone of Mega Food Park At Khagaria, Bihar
To give a major boost to the Food Processing Sector and to reduce wastage of agriculture produce at each stage of supply chain with particular focus on fruits and vegetables, Ministry of Food Processing Industries is implementing the Mega Food Park Scheme in the country. The objective of the Mega Food Park Scheme is to create modern infrastructure for food processing industry alongwith the value chain from farm to market with strong forward and backward linkages.
. Ministry of Food Processing Industries has sanctioned a Mega Food Park at Khagaria, Bihar to M/s Pristine Mega Food Park Pvt Ltd. The park will be set up in an area of 70 acres of land at village Mansi in Khagaria District of Bihar. Hon’ble Union Minister for Food Processing Industries, Smt. Harsimrat Kaur Badal laid the foundation stone of the park today on 06.08.2015 in a function organized by M/s Pristine Mega Food Park Ltd. The function was presided over by Shri Shyam Rajak, Hon’ble Minister of Industries, Government of Bihar and attended by Hon’ble Union Minister of State for Food Processing Industries, Sadhvi Niranjan Jyothi. Hon’ble Union Minister of State for Railways Shri Manoj Sinha and Ch. Mahboob Ali Kalser, Member of Parliament, Khagaria were the Guest of Honour on the ocassion.
Hon’ble Minister Food Processing Industries informed that the Pristine Mega Food Park will be set up with a project cost of Rs. 127.6 crore in an area of 70 acres. Besides having a Central Processing Centre with modern infrastructure and common facilities, the Park will have backward linkage with the major production areas with four primary processing centres to be set up at Hazipur (Vaishali), Gulab Bagh (Purnia), Kalyanpur (Samastipur) and Parao (Muzaffarpur).
On completion, the park will have facilities of 40,000 MT dry warehouse, 10,000 MT Grain Silos , 5000 MT multi-products cold storage, 10 ton /hour pack house, 2 metric ton /hour IQF, 1500 MT Deep Fridge besides having modern testing lab and reefer vans. The Park will also have modern infrastructure like roads, electricity, STP/ETP, administrative building etc. About 30-35 units are likely to be set up in this park with an investment of about Rs. 250 crore which will generate an annual turnover of Rs. 500 crore. The Park will provide direct and indirect employment to about 6000 people and benefit about 30,000 farmers in its catchment area.
. Speaking on the occasion, Smt Harsimrat Kaur Badal said that the Mega Food Park at Mansi in District Khagaria will go a long way in contributing to the development of Food Processing sector in the region and create immense opportunities for entrepreneurship and employment in the State bestowed with huge agriculture production potential. It will benefit the farmers, growers, food processors and consumers in the State of Bihar.
****
National Workshop on CCTNS
The Ministry of Home Affairs organized here today, a National Workshop on Crime and Criminal Tracking Network & Systems (CCTNS) to review the implementation status and formulate a time-bound strategy for its better and effective implementation. State government officers handling CCTNS project, Directors General of Prison of States, professionals from IT Companies and consulting companies working on this project and NIC participated in the day-long Workshop.
The present status of the CCTNS Project was discussed in detail. Out of 14,324 Police Stations in the country, approximately 11,000 Police Stations are using CCTNS Software for registration of FIRs. Out of this, about 9,000 Police Stations registered 100% FIR through this system only. Presently, in Bihar and Rajasthan implementation of project is held up due to cancellation of the contract with the vendors.
States like Tamil Nadu, Andhra Pradesh, Gujarat, Telangana, Delhi, Karnataka, UP and Haryana have fully rolled out CCTNS project.
The Workshop has deliberated upon action required for time bound completion of this project as well as sustainability of this project. The participants recommended for the Central integration of the project with other e-governance systems like UID, National Population Register incorporating mobile and handheld devices to facilitate field level investigation. The issues of enhanced bandwidth for connectivity, visual dashboards and intelligence tools to make the system useful for decision making and monitoring by higher offices were also discussed. They also deliberated its integration with other components of justice delivery namely prisons, courts, prosecution and forensic labs. The States also demanded that the funding for the project should be continued by the Central government.
****
Indian Police team won laurels at the 2015 Fairfax World police & Fire Games
Union Home Minister Shri Rajnath Singh will felicitate at a function here tomorrow the Indian Police team that won laurels at the recent Fairfax World police & Fire Games. The 53-member Indian Police team had participated in the 2015 Fairfax World Police & Fire Games held at Virginia, US from June 26 to July 05, 2015.
The Indian team has returned with a record-breaking haul of 157 medals including 88 Gold, 49 Silver and 20 Bronze medals. The tally of 157 medals is the biggest harvest of medals and at these prestigious Games has broken the record of 2013 World Police & Fire Games held at Belfast (Northern Ireland) wherefrom Indian Police team had come back with 48 Gold, 22 Silver and 13 Bronze medals (total 83 medals).
****
Statement of Union Home Minister on Terrorist Attack at Udhampur
The Union Home Minister Shri Rajnath Singh today made a statement in both the Houses of Parliament on the terrorist attack at Udhampur in Jammu and Kashmir on August 5, 2015. Following is the text, English rendition, of his statement:
“On August 5, 2015 at around 0700 hrs., terrorists attacked a BSF convoy on the Jammu – Srinagar Highway near Narsoo Nallah, Tehsil Chenani, Distt. Udhampur, around 18 kms from Udhampur town. Two BSF personnel, namely Constable Rocky No. 120628139 of 59th Bn. BSF, r/o District Yamuna Nagar, Haryana; and Constable Subhendu Roy, No. 994001199 of 2nd Bn. BSF, r/o District Jalpaiguri, West Bengal, died in the attack and 14 BSF personnel were injured. One of the two militants involved in the attack was killed, while one was subsequently apprehended by the local people and the police.
The apprehended terrorist was brought to Jammu, where he is being questioned by the concerned authorities. Preliminary interrogation of the captured terrorist reveal his identity as Md. Naveed Yakub @ Usman, r/o Faisalabad (Pakistan). He also revealed the identity of his slain accomplice as Md. Nomen @ Nomin (code name) r/o Bhawalpur, Pakistan. In this connection, a Case in FIR No. 60/2015 U/S120/120-B/307/302/RPC, 7/25 Arms Act, 15/16 Unlawful Activities Prevention Act has been registered at Police Station Chenani and further investigation of the case is in progress. Two AK-47 rifles along with some magazines, grenade and ammunition etc. have been recovered from the terrorists.
We strongly condemn the attack and the persistent attempts by terrorists from across the border to vitiate the peaceful atmosphere in Jammu & Kashmir. On behalf of this august House, I take this opportunity to extend our heartfelt condolences to the families of the martyred BSF personnel and our sympathies to those injured in this mindless act of violence. The Security Forces, including the BSF, J&K Police, and the CRPF have shown exemplary courage in thwarting the attack with minimum casualties. Besides the ex-gratia compensation and jobs to be provided to the families of the martyred BSF personnel we will also consider them and others who displayed courage and bravery in the incident for immediate award of the Gallantry Medal.
We especially salute the courage of the unarmed villagers, who despite grave risk to their lives overpowered a fully armed militant without consideration for their own security. We will take up the matter with the State Government for suitably recognizing their conspicuous act of valour.
We are confident that interrogation of the apprehended terrorist will reveal their modus operandi, including the details of their infiltration from across the border and their targets. The Government remains committed to combating terrorism with a strong resolve and ensuring the safety and security of our citizens and our security personnel.”
****
Dr Jitendra Singh and Shri Kiren Rijiju visited flood-affected Manipur
Union Minister of State for Development of North-Eastern Region (DoNER) and Minister of State in the Prime Minister's Office (PMO) Dr. Jitendra Singh and Minister of State for Home Affairs Shri Kiren Rijiju visited the flood-affected areas of Manipur yesterday.
The Central team along with local Ministers, MLAs and State officials carried out an aerial survey of the worst-affected village Joumol in Chandel district where a massive landslide had taken place on August 1, 2015. They also conducted aerial survey of the flood affected areas of Thoubal district and nearby areas.
After returning at Imphal Airport, Dr Jitendra Singh and Shri Kiren Rijiju interacted with the team of the National Disiaster Response Force (NDRF) which had carried out the search and rescue operation. NDRF Team Commander gave detailed briefing to the Ministers about the conduct of the search and rescue operation by the team. As per NDRF, in the village Joumol, total 19 villagers were affected by the landslide, out of which 10 persons survived and 9 were swept aside. Out of 9 missing, 4 bodies were recovered by the NDRF Team and 5 could not be retrieved as the victims were buried under 50-60 feet of slush & debris. Due to hilly terrain, it was not possible to make use of any earthmover machines.
The Central team later held a meeting with the top State Government officials and interacted with the local media. The Chief Secretary submitted the preliminary damage report. During the meeting, both the Ministers conveyed the condolences on behalf of the Prime Minister for the bereaved families who had lost their family members. They also conveyed Prime Minister’s sympathies to those who had suffered economic loss due to flood. It was reported that 75% population of Thoubal district has been affected. There have been heavy losses to the paddy fields as well as fishery farms.
During the visit, both the Ministers had telephonic conversation with the Chief Minister of Manipur over the flood situation in the State and assured him to provide full support from the Central Government.
****
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