Circular No. 145/56/95-CX I am directed to say that doubts have been expressed regarding correct classification of coconut oil packed in small containers as to whether the same is classification of coconut oil packed in small containers as to whether the same is classifiable as a fixed vegetable oil under chapter 15 or as a cosmetic prep...

Circular No. 720-Income Tax It has been brought to the notice of the Board that in some cases persons responsible for deducting tax at source are deducting such tax by applying more than one provision for the same pay­ment. In particular, it has been pointed out that the sums paid for carrying out work of advertising are being subjected...

Notification No.S.O.748(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% (Tax-free) HUDCO Bonds (Series IV-A) bearing distinctive numbers from 94000001 to 95740000 of Rs. 1,000 each aggre...

The undersigned is directed to refer to the Commissioner of Customs, Delhi's D.O. letter No. VII/ 12/ ACU/ 7-Cars/ 165/ Ch. 87/ 75 dated 9-6-1995, addressed to Jt. Director General of Foreign Trade, seeking clarification on the subject of...

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 components required for the manufacture of capital goods when imported into India by a manufacturer of such capital goods f...

Circular No. 144/55/95-CX I am directed to invite your attention to the enclosed copy of Chart showing delegation of powers under various rules relating to New Export Procedure for information...

Notification No.S.O.736(E) - Income Tax In exercise of the powers conferred by clause (iii) of sub-section (2) of section 194K of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the following Schemes of the Unit Trust of India as the Schemes having regard to the plan of payment of income to the unitholders ...

In terms of rule 4(ii)(c) of the Foreign Privileged Persons/ Regulation of Customs Privileges Rules, 1957, a foreign privileged person, on relinquishing his post or on his transfer out India may offer the vehicle imported by him for sale to State Trading Corporation, with the permission of Ministry of External Affairs. In terms of rule 5(...

Circular No. 718-Income Tax ‘194-I. Any person, not being an individual or a Hindu undivided family, who is responsible for paying to any person any income by way of rent, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of cheque or draft ...

Instances have been brought to the notice of the Board that some Customs Houses are not allowing drawback where the drawback exceed 2% of the FOB value but it less than Rs. 5000 per shipment. This practice appears to be based on the misconception that ...