"June, 1995" Archive

ICDs / CFSs Movement of Cargo by Road Permitted

Circular No. 77/95-Customn Duty (30/06/1995)

It may also be noted that as regards the movement of cargo from and to the ICDs and CFSs, the policy of the Department has so far been to prefer such movement by the medium of rail transport wherever such link in provided...

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SLPs Filing before Supreme Court – Procedure to be followed

Circular No. 76/95-Custom Duty (28/06/1995)

The undersigned is directed to say that some instances have come to the notice of the Board where proposals were sent to the Board for filing SLP with stay application against the judgement/ order of the High Court directing release of goods / refund of duty or ...

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Circular No. 75/95-Custom Duty Dated 28/6/1995

Circular No. 75/95-Custom Duty (28/06/1995)

A reference has been received from some of the Commissioners of Customs pointing out that the procedure laid down in Para 2.4 of Ministry's Customs House is to accept the Bond/ Bank Guarantee which is to be executed by the importer for goods imported under the Exemption Notification Nos. 79/95 and 80/95 dated 31.3.95. Different Custom Hou...

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Gold/ Silver coins imports allowed to passengers

Circular No. 74/95-Custom Duty (27/06/1995)

The undersigned is directed to refer to Ministry's letter of even number dated 31st August, 1994, on the above subject, and to say that the Department of Economic Affairs have now informed that they have re-examined the matter in consultation with the Reserve Bank ...

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Circular : No. 706-Income Tax dated 26-6-1995

Circular No. 706-Income Tax (26/06/1995)

Circular No. 706-Income Tax Section 80Q inserted by the Finance (No. 2) Act, 1991, with effect from 1-4-1992 provides that where in the case of an asses­see the gross total income of the previous year relevant to the assessment year commencing on the 1st day of April, 1992 or to any one of the four assessment years next following that as...

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Airlines crew not covered by baggage rules

Circular No. 73/95-Custom Duty (26/06/1995)

I am directed to invite your attention to Ministry's circular of even number dated 25.8.94 raising the free allowance of operating airlines crew members from Rs. 30 /- to Rs. 300/- and to say that it is very clearly mentioned in that circular that this free allowance is ...

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Multi-modal Transport Operations not allowed to act as Customs House Agent

Circular No. 72/95-Custom Duty (22/06/1995)

A number of references have been received from the field formations enquiring whether Multi-modal Transport Operators (MTOs) or their Agents appointed by the Ministry of Surface Transport have to be granted Custom House Agents licence or appointed as Steamer Agents for the purposes of Customs Act, 1962. In this context I am directed to sa...

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Export of goods against repayment of state credits and liquidation of debt repayment arrangements – Clarification

Circular No. 71/95-Custom Duty (21/06/1995)

Some representations have been received from the exporters exporting goods to Russia (erstwhile soviet Union) that some Custom Houses are not accepting shipping bills under the DEEC Scheme on the grounds that the shipping bills do not indicate the value of the ...

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Foreign experts-import (baggage) Not exempt from duty

Circular No. 70/95-Custom Duty (20/06/1995)

Customs & Import facilities to experts assigned to India under the various Aid Schemes viz. UN and its Specialised Agencies (Regular) Programme, UNDP, Colombo Plan, India French Programme and other Bilateral Technical Cooperation Agreements with Foreign Countries...

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Circular No. 705-Income Tax dated 20-6-1995

Circular No. 705-Income Tax (20/06/1995)

Circular No. 705-Income Tax Section 80RRA of the Income-tax Act, 1961 provides, inter alia, for deduction from the gross total income, in respect of remuneration received in foreign currency by a technician for services ren­dered outside India. The deduction is at the rate of 50 per cent of the remuneration or 75 per cent of the remuner...

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Circular No. 69/95-Custom Duty Dated 19/6/1995

Circular No. 69/95-Custom Duty (19/06/1995)

Several cases of misuse of DEEC Scheme have been reported to the Board by the Custom Houses/ Collectorates. A gist of the mire important cases of abuse especially where modus operandi adopted could be repeated are indicated below...

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Public/ Private bonded warehouses procedure liberalised

Circular No. 68/95-Custom Duty (15/06/1995)

I am directed to state that a review of the existing policy with regard to appointment of public bonded warehouses and licensing of private bonded warehouses has been conducted by the Board. Consequently, it has been decided to liberalise the procedure on the ...

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New Duty Drawback Rates effective 16.6.95- CBEC Instructions

Circular No. 67/95-Custom Duty (15/06/1995)

The Ministry has announced the new All Industry rates of Drawback effective from 16.6.1995 vide Public Notice No. 5/95, dated 15.6.1995. There are some important changes made in the description of export products, and Notes given thereunder...

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Notification No. S.O.530(E) – Income Tax Dated 14/6/1995

Notification No.S.O.530(E) - Income Tax (14/06/1995)

Notification No.S.O.530(E) - Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 7-years 13 per cent. (taxable) Secured Redeemable Non-Convertible J-Series Bonds bearing distinctive numbers 101000001 to 101500...

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Notification No. S.O.529(E) – Income Tax Dated 14/6/1995

Notification No.S.O.529(E) - Income Tax (14/06/1995)

Notification No.S.O.529(E) - Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 9.25 per cent. per annum tax-free Secured Redeemable Non-Convertible Bonds (J-series) bearing distinctive numbers 1000000...

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Issuing of Invoices under Rule 57 GG for supplies to DEM- Regarding

Circular No. 133/44/95-Central Excise (14/06/1995)

Circular No. 133/44/95-CX Representations have been received by the Board regarding difficulties in dispatching small consignment lots to each and every destination in the same vehicle used for transporting the goods from the factory of the manufacturer....

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Evasion of excise duty on fabrics – Regarding

Circular No. 132/43/95-Central Excise (14/06/1995)

Circular No. 132/43/95-CX I am directed to invite your attention to the Notification No. 83/95-CE dated 24.4.95 which amends Notification Nos. 38/95-CE, 40/95-CE and 43/95-CE, all dated 16.3.1995 so as to remove the restriction on having facilities for bleaching, prating and dyeing for availing of the benefit of exemption under the above...

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EPCG Scheme- CBEC Instructions on New Policy / Procedure

Circular No. 66/95-Custom Duty (13/06/1995)

Export Promotion Capital Goods (E.P.C.G.) Scheme has undergone certain changes in the revised edition of the Exim Policy published on 30th March, 1995 and the revised edition of Handbook of Procedure, Vol. I published on 30th April, 1995. In order to give effect to the changes, Department has issued notifications No. 108/95-Customs to 11...

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Special VBAL Scheme for RMG – CBEC Instruction

Circular No. 65/95-Custom Duty (13/06/1995)

A Special Value Based Scheme for exporters of ready-made garments was introduced by Ministry of Commerce vide their Notification No. 39 (N-7) /92-97 dated 27th August, 1992. To give effect to this scheme Notification No. 104/ 93-Customs dated 16th March, 1993 was issued. In this connection attention is invited to Circular NO. 6/93 dated 3...

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Export obligation Non-fulfilment – Adjudication not necessary for initiating action

Circular No. 64/95- Custom Duty (12/06/1995)

In a case where export obligation under Duty Exemption Scheme was not fulfilled according to the prescribed procedure and Department had issued show Cause Notices for initiating action against persons importing duty free raw materials under the Duty ...

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Measures to avoid misuse of Modvat credit – reg

Circular No. 131/42/95-Central Excise (09/06/1995)

Circular No. 131/42/95-CX I am directed to refer to Board"s Circular No. 12/93-CX.8 dated 02.11.1993 issued from F.No. 267/45/93-CX.8 on the above mentioned subject and to say that while verifying the genuineness of the extracts of RG-32A Part - I and II and the originals of duty paying documents and before the defacement of the latter t...

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Transfer of Residence Form Revision

Circular No. 63/95-Custom Duty (07/06/1995)

The undersigned in directed to say that it has been brought to the notice of the Board that the Transfer of Residence Form binge used in your Collect orate contains a clause that "the goods cleared by the passenger shall not be sold, displayed or advertised or offered for sale until their market price has displayed or advertised or offere...

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Passbook scheme for duty free imports -CBEC Instructions

Circular No. 62/95- Custom Duty (07/06/1995)

In the revised edition of the Exim Policy published on 31st March, 1995, Ministry of Commerce have introduced a new scheme called the Pass Book Scheme vide para 54 of the Policy, The procedure for this Scheme has been provided in para 114. In order to give...

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SEBI : Right not accompanied by public issues- no vetting

SMD/RCG/PJ/2179/95 (06/06/1995)

Amendments to Regulations of your exchange would be required to give effect to these new guidelines. Therefore, you are requested to make necessary amendments in your regulations and confirm the compliance thereof by June 21, 1995. Please send a copy of the amended regulations for our record. ...

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Re-import of exported goods – Duty leviability explained

Circular No. 61/95-Custom Duty (06/06/1995)

I am directed to say that with the enactment of the Finance Bill, 1995 on 26.5.1995 section 20 of the customs Act, 1962 stands amended so as to provide for the levy of customs duty on all re- imported goods in the same manner as goods being imported for the first time. As may be seen this is a substantial change from the hitherto existing...

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Ovaprim imported before 16/3/95 are also entitled to duty exemption

Circular No. 60/95-Custom Duty (06/06/1995)

I am directed to refer to S. No. 2 (ix) of Notification No. 29/94-Customs dated the 1st March 1994 and to state that the notification seeks to prescribe concessional rate of customs duty on Ovaprim, a fish spawning and inducing agent. Though, Ovaprim is classifiable ...

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Changing designation of Collector to Commissioner

Notification No. 26/1995-Central Excise(N.T.) (06/06/1995)

Notification under Section 37 - In exercise of the powers conferred by section 37 of the Central Excises and Salt Act, 1944 (1 of 1944) and of all other powers enabling it in this behalf the Central Government hereby directs that references to any authority specified in column 2 of the Table below in the rules made or deemed to have been...

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Customs refund applications regulations – CBEC clarification

Circular No. 59/95-Custom Duty (05/06/1995)

I am directed to say that with the enactment of the Finance Bill, 1995 with effect from 26.5.1995 section 27 A relating to payment of interest on delayed refund of customs duties have become part of the Customs Act, 1962. Consequently, Notification No. 32/95 (NT) customs dated 26.5.1995 has been issued by the Board to ...

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Notification No. 111/1995-Customs, Dated: 05/06/1995

Notification No. 111/95-Customs (05/06/1995)

The importer executes a bond in such form and for such sum and with such surety or security as may be specified by the Assistant Commissioner of Customs or Deputy Commissioner of Customs binding himself to fulfil export obligation equivalent to six times the CIF value of the goods imported on FOB basis, or four times of the CIF value on N...

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Notification No. 110/1995-Customs, Dated: 05/06/1995

Notification No. 110/95-Customs (05/06/1995)

The goods imported are covered by a valid licence issued on or after 1st May, 1995 under the Export Promotion Capital Goods (E.P.C.G) Scheme in terms of Export and Import Policy (hereinafter referred to as the said policy) permitting import on payment of duty of customs at the rate of 15% and the said licence is produced for debit by the ...

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Notification No. 107/1995-Customs, Dated: 02/06/1995

Notification No. 107/95-Customs (02/06/1995)

That the export obligation is discharged within the period specified in the said certificate or within such extended period as may be granted by the Licensing authority by exporting goods manufactured with the use of materials imported in terms of this notification and the importer produces the said certificate together with evidence of d...

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Notification No.106/1995-Customs, Dated: 02/06/1995

Notification No.106/95-Customs (02/06/1995)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts materials imported into India against Special Value Based Advance Licence (hereinafter referred as the said licence) for th...

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