"February, 1995" Archive

Circular No. 16/95 Custom Duty Dated 24/2/1995

Circular No. 16/95 Custom Duty (24/02/1995)

A case has been brought to the notice of the Board wherein a unit in an EPZ had imported more or less full assembled articles and after some minor processing had exported some of the articles but had also cleared a substantial quantity into the DTA in accordance with the EXIM Policy. A question had been raised whether the benefit of 50% d...

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Horticulture etc. 100% EOUs – Exemption from Customs Supervision

Circular No. 15/95-Custom Duty (23/02/1995)

A reference is invited to the provisions of the Scheme of exemption for 100% EOUs in terms of Notification No. 13/81-Customs dated 9.2.1981 which provides for grant of exemption to the 100% EOUs, inter alia, subject to the condition that the manufacturing operations are carried out under customs bond. Subsequently the Ministry has notifie...

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Notification No. 10/95-Central Excise, Dated: 23.02.1995

Notification No. 10/1995-Central Excise (23/02/1995)

The depreciation in respect of goods covered by clause (a) shall be allowed for the period from the date of commencement of commercial production of the unit or the date of receipt of the goods in the unit, whichever is later, till the date of payment of duty....

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Circular No. 104/15/95-Central Excise, Dated: 22.02.1995

Circular No. 104/15/95-Central Excise (22/02/1995)

Circular No. 104/15/95-CX I am directed to enclose herewith a copy of Board"s Circular No. 96/7/95-CX dated 13.2.95 issued from F.No. 267/9/95-CX-8 dated 13th February, 1995 read with Corrigendum dt. 22.2.95 and to request you to issue necessary instructions to the concerned officers ...

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Instructions relating to issuance of Invoice (s) under Rule 57-G of Central Excise Rules

Circular No. 103/14/95-Central Excise (22/02/1995)

Circular No. 103/14/95-CX I am directed to refer to Board"s Circular No. 95/7/95-CX dated 13th February, 1995 issued from F.No. 267/9/95-CX-8 on the above mentioned subject ...

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Circular No. 14/95-Custom Duty Dated 22/2/1995

Circular No. 14/95-Custom Duty (22/02/1995)

I am directed to draw your attention to the recommendation of the Committee on Indirect Taxes (Rekhi Committee) the "Watch Dog Panels" comprising of officers of the Customs Houses, Trade representatives and Clearing Agents Should be set up in all Customs ...

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Circular No. 102/13/95-Central Excise, Dated: 22.02.1995

Circular No. 102/13/95-Central Excise (22/02/1995)

Circular No. 102/13/95-CX The procedural restriction envisaged in sub-rule (2) and 2(A) of rule 224, read with sub-rule (2) of rule 173G of the Central Excise Rules, 1944, regarding removal of excisable goods after 6 P.M.on the day preceding the Budget Day and also on the Budget Day, should be strictly enforced on all assessees...

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Fraudulent availment of Modvat Credit – Preventive measures- Regarding

Circular No. 101/12/95-Central Excise (22/02/1995)

Circular No. 101/12/95-CX Instances have been brought to the notice of the Board where modvat credit taken on inputs by the assessee was not reversed even after writing off of the materials on which the credit was taken. Cases have also been noticed where the credit had not been adjusted even though the write-off of the input materials h...

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DEEC Scheme Telegraphic Release Advise

Circular No. 12/95-Custom Duty (20/02/1995)

I am directed to say that in the course of his recent visits to some of the Customs Houses Member (EP & Cus) had noticed Telegraphic Release Advance (TRAs) are being issued by the Licencing Section of the Customs Houses, without any reference to ...

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Circular No. 100/11/95-Central Excise Dated 20/2/1995

Circular No. 100/11/95-Central Excise (20/02/1995)

Circular No. 100/11/95-CX I am directed to say the question of delegating the powers to the Principal Collectors of Customs and Central Excise to reconstitute the Regional Advisory Committees for Organised Sectors and also for Small Scale Industries, in the Central Excise Collectorates, has been under consideration of the Board for the p...

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Awards disbursement within three months of sanction

Circular No. 99/10/95-Central Excise (20/02/1995)

Circular No. 99/10/95-CX I am directed to say that while replying to a Parliament Question on sanction and disbursement of rewards, it has come to the notice of the Boards that there is considerable time lag between the date of sanction of the reward and the date of disbursement of reward. ...

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Circular No. 98/9/95-Central Excise, Dated: 20.02.1995

Circular No. 98/9/95-Central Excise (20/02/1995)

Circular No. 98/9/95-CX I am directed to say that a number of complaints have been received from the trade circle to the effect that delay in clearance of AR4s. (under VBAL/QBAL) by the Central Excise officers, is adversely affecting the exports....

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Notification No. S.O.101(E) – Income Tax Dated 16/2/1995

Notification No.S.O.101(E) - Income Tax (16/02/1995)

Notification No.S.O.101(E) - Income Tax In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies J. M. Mutual Fund set up under a trust deed dated 1st September, 1994, by J. M. Financial and Investment Consultancy Services Limited and J. M. Share a...

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EOUs / EPZ Units – Inter-Unit Transfer

Circular No. 13/95-Custom Duty (15/02/1995)

As you are aware aware the Scheme of 100% EOUs / EPZs envisages the transfer of goods imported or manufactured by a Unit from one Unit to another. Such transfer may be for purpose of use of the goods within the transferee unit or its export or further manufacture. While, this facility has been available since sometime, the purpose of such...

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Advance Licence – Nexus between export product and imported input to continue to be established

Circular No. 11/95-Custom Duty (15/02/1995)

Your attention is drawn to the Ministry's Circular No. 34/94 dated 12/12/94 emphasising the need for nexus between import items and inputs used in the export goods and the reference made therein in DGFT's ALC Circular No. 17/94 dated 8.11.94 DGFT have ...

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“Tajima” brand Embroidery Machine- whether verticle type or not

Circular No. 97/8/95-Central Excise (13/02/1995)

Circular No. 97/8/95-CX I am directed to refer to Board"s Circular No. 42/ 42/ 94-CX. (F. No. 58/1/93-CX.I) dated 7.6.94 on the subject noted above and to say that since "second para" of the said circular is not factually correct and is also not relevant to the issue discussed the same may be omitted from the said circular....

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Circular No. 96/7/95-Central Excise, Dated: 13.02.1995

Circular No. 96/7/95-Central Excise (13/02/1995)

Circular No. 96/7/95-CX Rule 57G of Central Excise Rules deals with the accounting procedure for the persons issuing invoices under Rule 57G. It is necessary that transactions relating to goods invoices under Rule 57G. It is necessary that transactions relating to goods on which Modvat Credit is to be availed of are smoothly carried out...

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Instructions relating to issuance of invoice (s) under Rule 57G of Central Excise Rules

Circular No. 96/7/95-Central Excise (13/02/1995)

Instructions relating to issuance of invoice (s) under Rule 57G of Central Excise Rules-Rule 57G of Central Excise Rules deals with the accounting procedure for the persons issuing invoices under Rule 57G. It is necessary that transactions relating to goods invoices under Rule 57G. It is necessary that transactions relating to goods on wh...

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Notification No. S.O.112(E) – Income Tax Dated 12/2/1995

Notification No.S.O.112(E) - Income Tax (12/02/1995)

Notification No.S.O.112(E) - Income Tax In exercise of the powers conferred by clause (a) of the Explanation to section 115AD of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Foreign Institutional Investors specified in the table below for the purposes of the said section. ...

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Circular No. 95/6/95-Central Excise, Dated: 09.02.1995

Circular No. 95/6/95-Central Excise (09/02/1995)

Circular No. 95/6/95- CX I am directed to refer to Board"s Circular No. 2/92-CX.1 (F.No. 54/9.92-CX.1) dated 31.12.92 wherein it was clarified that the Board"s Section 37-B order No. 8/92/ dated 24.9.92 cannot change the status of the past closed assessments. But, wherever cases are pending decision...

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Circular No. 10/95-Custom Duty Dated 2/2/1995

Circular No. 10/95-Custom Duty (02/02/1995)

The undersigned is directed to say that a doubt has been raised regarding para 2(e) of the "Guidelines for Baggage Clearance", circulated vide Board's letter of even number dated 1.11.94, wherein, it is explained that the Indian Citizens or foreign national residing abroad for more than two years and who are transferring their residence t...

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