Wednesday, January 18, 2017

International Customs Duty Day, India Tourism Day, Indian Voter Day

25th January - National Voter's Day - Indian Custom Duty


A meeting of the Union Cabinet, chaired by Prime minister Dr. Manmohan Singh, approved a Law Ministry proposal to this effect, Information and Broadcasting Minister Ambika Soni told reporters.

Observing that new voters, who have attained the age of 18 years, were showing less interest in getting enrolled in the electoral rolls, she said the level of their enrollment was as low as 20 to 25 per cent in certain cases.

"In order to effectively deal with this problem, the Election Commission has decided to take up a vigorous exercise to identify all eligible voters attaining the age of 18 years as of January 1 every year in each of the 8.5 lakh polling stations across the country," she said.

Such eligible voters would be enrolled on time and handed over their Electoral Photo Identity Card (EPIC) on January 25 every year, Soni said, adding this initiative is expected to give the youth a sense of empowerment, pride and inspire them to exercise their franchise.

The new voters would be provided with a badge with its logo "Proud to be a voter - Ready to vote", she said.The theme of NVD 2016 is �Inclusive and qualitative participation� reiterating the commitment towards reaching out to the last voter and promoting informed and ethical voting. The slogan 'No Voter to be left behind' has been coined to further emphasis the focus on inclusiveness. The National Awards are being conferred for excellence, proficiency and innovation in election processes and procedures. These awards recognize contribution by election machinery, government department/ agency/ PSU, CSO and media said.The greatest joy is seen in young voters of India.

On the fourth National Voters Day, a disability activist Satendra Singh's RTI caught Election Commission of India off-guard when they were found violating Supreme Court orders to enfranchise voters with disability.



What is Custom Duty? Custom Duty in India




Custom duty is a variant of indirect tax and is applicable on all goods imported and a few goods exported out of the country. Duties levied on import of goods are termed as import duty while duties levied on exported goods are termed as export duty. Countries around the world levy custom duties on import/export of goods as a means to raise revenue and/or shield domestic institutions from predatory or efficient competitors from other countries.

Customs duty is levied as per the value of goods or dimensions, weight and other such criteria according to the goods in question. If duties are based on the value of goods, then they are called as ad valorem duties, while quantity/weight based duties are called specific duties. Compound duties on goods are a combination of value as well as various other factors.


Types of Custom Duty


Custom duties are levied almost universally on all goods imported into the country. Export duties are levied on a few goods as specified under the Second Schedule. Import duties are not levied on a few items including lifesaving drugs/equipment, fertilizers, food grains etc. Import duties are further divided into basic duty, additional customs duty, true countervailing duty, protective duty, education cess and anti-dumping duty or safeguard duty.


Basic Custom Duty


Basic custom duty is applicable on imported items that fall under the ambit of Section 12 of the Customs Act, 1962. These duties are levied at the rates prescribed in First Schedule to Customs Tariff Act, 1975, under the terms specified in Section 2 of the act. The levied rates may be standard or preferential as per the country of import.



Additional Customs Duty (Countervailing Duty (CVD))


This duty is levied on imported items under Section 3 of Customs Tariff Act, 1975. It is equal to the Central Excise Duty that is levied on similar goods produced within India. This duty is calculated on the aggregate value of goods including BDC and landing charges.


Protective Duty


Protective duty may be imposed to shield the domestic industry against imports at a rate recommended by the Tariff Commissioner.


Education Cess


This duty is levied at 2% and higher education cess at another 1% of aggregate of customs duties.


Anti-dumping Duty


Anti-dumping duty may be imposed if the good being imported is at below fair market price, and is limited to the difference between export and normal price (dumping margin).


Safeguard Duty


Safeguard duty is levied if the government feels that a sudden increase in exports can potentially damage the domestic industry.



Sixth National Voters Day (NVD) is celebrated across India on January 25. Since 2011, NVD is annually celebrated on January 25. The significance of this day is to encourage youngsters, who have reached the age of 18, of the country to participate in the electoral process, by enrolling or registering themselves in electoral rolls and to exercise their franchise.

Theme : �Inclusive and Qualitative Participation�

Slogan: �No voter should be left behind�.




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