I am directed to enclose herewith a copy of Notification No. 76/ 95-CE1, dated 1.4.95 amending Notification No. 2/95-CE, dated 1.4.95 relating to duties applicable to goods manufactured by units in EPZ/ 100% EOU/ EHTP/ STP and cleared into the Domestic Tariff Area
I am directed to say that the Board is in receipt of a reference from the Department of Electronics that a Software Technology Park (STP) Unit has not been permitted to import certain equipment’s meant for utilisation within the unit for training of professionals. In this regard, the Board’s attention has been drawn
Circular No. 703-Income Tax With effect from the assessment year 1993-94, a new procedure for taxation of firms has been introduced according to which the distinction between the registered and unregistered firms has been done away with. Consequently, the requirement of apportionment of losses among the partners for set-off and carry forward has also been given up. In line with this procedure
Circular No. 117/28/95-CX I am directed to refer to Board”s Circular No. 5/ Floor-Coverings/ 87 (F.No. 57/1/87-CX.1) dated 23.6.87 wherein it was clarified that duty liability would not be attracted on car mattings made from duty paid non-woven material in roll form.
I am directed to forward herewith a copy of Customs Notification No. 17/ 95-Customs (N.T.), dated 13.3.1995, notifying the Import Manifest (Vessels) Amendment Regulations, 1995 which seek to amend the Import Manifest (Vessels) regulations, 1971. The said Amendment
I am directed to refer to the correspondence resting with Board’s instructions F.No. 473/ 349/ 87 -CUS- VII dated 20.7.89 and F.No. 473/ 21/90-CUS- VII dated 22.11.90 on the above subject and to say that the Board is considering the grant of private bonded
There is no mention of ‘fair market value’ in section 50(1); besides that the adjustments stated there are with reference to the written down value only which has nothing to do with the fair market value, and therefore, where the capital asset purchased by the assessee is a depreciable or non-depreciable asset, the assessee will have the option for substituting for its actual cost of acquisition its fair market value as on 1-1-1954 but where it is a depreciable asset and the assessee has enjoyed depreciable allowance, its cost of acquisition shall have to be determined as provided in section 50 – Commonwealth Trust Ltd. v. CIT
I am directed to invite your attention to Ministry’s F.No. 609/ 284/ 94- DBK (Circular 24/94) dated 12.10.94 prescribing the frequency of drawal of samples for purposes of grant of drawback
The undersigned is directed to enclose a copy of Notification No. 84/ 95-Cus. dated 01.04.951. which prescribes concessional rates of basic customs duty on certain goods imported into India from Sri Lanka
Circular No. 116/27/95-CX Though onus to satisfy the conditions of Notification 203/92-Cus. before the Customs authorities including non-availment of credit is placed on the Importer/ exporter, they may have to approach the Central Excise formations to secure a verification certificate for the purpose.
