"September, 1995" Archive

Circular No. 105/95-Custom Duty Dated 29/9/1995

Circular No. 105/95-Custom Duty (29/09/1995)

I am directed to refer to notification no. 117/ 95-Cus. dt. 12.6.95, vide which the ten customs notification (13/ 81, 3/88, 138/91, 140/ 91, 95/93, 96/93, 126/94, 133/94, 177/94 - all customs) relating to EOU /EPZ /STP /EHTP were amended to omit the condition of obtaining the case by case permission of the Board of Approvals before import...

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Central Excise-Classification of printed materials of advertising nature on metal plates-Regarding

Circular No. 150/61/95- Central Excise (29/09/1995)

Circular No. 150/61/95-CX In this regard it has been represented that printed materials of advertising nature on metal plate merits classification under Chapter Heading 49.01 of CETA, 1985 attracting nil rate of duty which includes printed books, newspapers, pictures and other products of the printing industry. It has been further stated...

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Circular No. 724-Income Tax Dated 29-9-1995

Circular No. 724-Income Tax (29/09/1995)

Circular No. 724-Income Tax Reference is invited to Circular No. 690, dated 1st September, 1994 wherein the rates of deduction of income-tax from the payment of income under the head "Salaries" under section 192 of the Income-tax Act, 1961, during the financial year 1994-95, were intimated. The present Circular contains the rates of dedu...

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Notification No. S.O.820(E) – Income Tax Dated 28/9/1995

Notification No.S.O.820(E) - Income Tax (28/09/1995)

Notification No.S.O.820(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 schemes of the SBI Mutual Fund and GIC Mutual Fund given in the Table below as the schemes having regard to the plan of paymen...

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Radial tyres import as scrap not permitted

Circular No. 104/95-Custom Duty (28/09/1995)

I am directed to say as per Para 27 of the Handbook of Procedure on Import and Export, used rubber tyres and tubes can be imported without a licence provided the rubber tyres is cut in bead wire and used rubber tubes are cut into two pieces. The Automotive Tyres Manufactures Association has alleged that certain consignment of radial tyres...

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Interpretation or rules, etc. – Reference to Board and other commissioners Essential

Circular No. 103/95-Custom Duty (22/09/1995)

It has been observed that references on issues relating to interpretation of law, classification or procedure are being made to the Board without endorsing the copies to other Commissioners. This results in delay in examination of the issue in the Board as the Board has to consult other Commissioners of Customs in this regard. I am theref...

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Issue of notification as per section 54 of the Customs Act, 1962 – Transhipment- regarding

Circular No. 102/95-custom Duty (22/09/1995)

Notification No. 50-Customs (NT) dated 6th September, 1995 has been issued appointing all the Customs ports including Inland Container Depots (ICDs) and Customs Airports notified under section 7 of the Customs Act, 1962 as places for transhipment of imported goods...

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Quantity-based advance Licences – No additional duty on imports for exports of leather and readymade garments

Circular No. 101/95-Custom Duty (21/09/1995)

Your attention is dawn to Notification No. 80/95-Customs and Circular No. 32/95 dated 31st March, 1995 wherein the changes in the Duty Exemption Scheme in terms of the changes announced in the Exim Policy on 31.3.95 were communicated. Representations were received regarding grant of exemption to the additional duty of Customs in respect ...

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Value – based Advance Licences – No additional Duty on imports for exports of leather and readymade garments

Circular No. 100 / 95-Custom Duty (21/09/1995)

Your attention is dawn to Notification No. 79/95-Customs and Circular No. 32/95 dated 31st March, 1995 wherein the changes in the Duty Exemption Scheme in terms of the changes announced in the Exim Policy on 31.3.95 were communicated. Representations were received regarding grant of exemption to the additional duty of Customs in respect ...

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Private Bonded Warehouses -Further Guidelines

Circular No. 99/95-Custom Duty (20/09/1995)

Your attention is drawn to the instructions contained in Board's circular of even number dated 15th June, 1995 (Customs Circular No. 68/95). Certain doubts have been expressed in some quarters regarding methodology to be followed for licensing of private bonded warehouses. Accordingly, further guidelines for grant of such licences are iss...

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Circular No. 722-Income Tax Dated 19-9-1995

Circular No. 722-Income Tax (19/09/1995)

Circular No. 722-Income Tax Under section 80P(a)(ii), a co-operative society engaged in a cottage industry is eligible for deduction of the whole of the amount of profits and gains of business attributable to cottage industry...

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Circular No. 723-Income Tax Dated 19-9-1995

Circular No. 723-Income Tax (19/09/1995)

Circular No. 723-Income Tax Representations have been received regarding the scope of sections 172, 194C and 195 of the Income-tax Act, 1961, in connection with tax deduction at source from payments made to the foreign shipping companies or their agents...

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This notification exempts material imported against an Advance license issued on or after 19.09.1995

Notification No. 149/95-Customs (19/09/1995)

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 an Advance Licence applied for and issued on or after 19th September, 1995, with an o...

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This notification exempts goods imported against Value Based Advance License issued on or after 19.09.1995

Notification No. 148/95-Customs (19/09/1995)

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 a Value Based Advance Licence (hereinafter referred to as the said licence) applied f...

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Warehoused goods- Calculation of customs duty

Circular No. 98/95-Custom Duty (18/09/1995)

I am directed to refer to the board's circular F.No. 473/ 206/ 87/ CUS - VII dated 12.7.89 (copy enclosed) on the above subject and to say that the instructions contained therein may please by strictly adhered to...

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DEEC/ EPCG Scheme – Bond facility extended to Export Houses & Other Relaxations

Circular No. 97/95-Custom Duty (14/09/1995)

After considering various representations received from Export Promotion Councils and exports in general. Board has decided to make, the following further relaxation in the norms fixed earlier in Circular no. 52/ 95 dated 25.5.95 for execution of Bond / Bank Guarantees...

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Circular No. 721-Income Tax Dated 13-9-1995

Circular No. 721-Income Tax (13/09/1995)

Circular No. 721-Income Tax Section 112 was inserted in the Income-tax Act by the Finance Act, 1992 with effect from 1-4-1993. It provides that where the total income of an assessee includes any income, arising from the transfer of a long-term capital asset, which is chargeable under the head "Capital gains", the tax payable by the ass...

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Customs and Central Excise duty on newsprint (including glazed newsprint)

Circular No. 149/60/95- Central Excise (13/09/1995)

Circular No. 149/60/95-CX I am directed to invite your attention to notification Nos. 133/95-Cus. and 109/95-CE, both dated 31.08.95 which amend notification Nos. 39/94-Cus. and 60/88-CE respectively, as a consequence to the change in the import policy on newsprint, which is now under OGL...

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MODVAT credit on glass bottles and crates used by manufacturers of aerated waters- Regarding

Circular No. 148/59/95- Central Excise (13/09/1995)

Circular No. 148/59/95-CX I am directed to refer to Board"s Circular of even number dated 22nd September, 1994 on the subject mentioned above wherein the field formations were advised to safeguard revenue by issue of demand notices and not to take any precipitatory action....

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Circular No. 147/58/95-Central Excise, Dated: 12.09.1995

Circular No. 147/58/95- Central Excise (12/09/1995)

Circular No. 147/58/95-CX I am directed to refer to notification No. 103/95-CE, dated 4th July, 1995 withdrawing the tariff values prescribed for polyester filament yarns. Consequent to removal of tariff values for polyester filament yarns, the excise duty on value addition on account of dyeing, bleaching, etc. carried out on polyester f...

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Procedural relaxation regarding MODVAT Credit

Circular No. 146/57/95- Central Excise (12/09/1995)

Circular No. 146/57/95-CX Representations have been received from the manufacturers that some of their inputs on which modvat credit is taken by them have to be initially sent to another manufacture (job workers) for a part of process and then return the same to the manufacturers. For this purpose, the manufacturers clear the goods under...

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