"October, 1995" Archive

Toner Cartridges for Laser Printers and Ink Cartridges for Ink Jet Printers – Indicative prices for Customs Valuation

Circular No. 112/95-Custom Duty (31/10/1995)

Representations have been received that there is a gross under-invoicing of toner for Photocopiers and toner cartridges of laser printers and ink cartridges of Ink Jet Printers....

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Circular No. 728-Income Tax Dated 30-10-1995

Circular No. 728-Income Tax (30/10/1995)

Circular No. 728-Income Tax It has been represented to the Board that when making remit­tances of the nature of royalties and technical fees, tax is being deducted at source at the rates specified in the Finance Act of the relevant year, without taking into account the special rates for taxation of such income provided for under the Do...

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Export Promotion Returns by Customs -forms Prescribed

Circular No. 113/95-Custom Duty (27/10/1995)

Attention is invited to Ministry's Circular No. 609/ 106/93-DBK dated 20th October, 1993 whereby proforma for furnishing information with regard to duty forgone under various Export Promotion Schemes was prescribed....

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Circular No. 727-Income Tax Dated 27-10-1995

Circular No. 727-Income Tax (27/10/1995)

Circular No. 727-Income Tax Reference is invited to the Board’s Circular No. 644, dated 15-3-1993 (see Sl. No. 371) wherein it was clarified that the expenditure on provi­sion of food or beverages by an employer to the low-paid employ­ees will not be treated as entertainment expenditure within the meaning of the Explanation under se...

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SEBI : (prohibitation of fraudent and unfair trade practices relating to securities market) regulation, 1995

Notification No. SEBI/LE/856(E) (25/10/1995)

These regulations may be called the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Markets) Regulations, 1995....

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Transshipment of Imported Goods – Regulations clarified

Circular No. 111/95-Custom Duty (18/10/1995)

Notification No. 61/ 95-NT- Customs dated 28th Sept., 1995, notifying the Goods Imported (Conditions of Transhipment) Regulations, 1995 has been issued on 28th Sept., 1995. This Notification replaces the earlier Regulation of 1984 viz, Imported Goods (Conditions of Transhipment) Regulations...

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Circular No. 726-Income Tax Dated 18-10-1995

Circular No. 726-Income Tax (18/10/1995)

Circular No. 726-Income Tax Representations have been received from some law and account­ancy firms that are receiving fees for professional services from foreign companies or foreign law and accountancy firms saying that the latter find it very difficult to comply with the re­quirement of tax deduction at source under section 194J of ...

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Export of goods under claims of rebate

Circular No. 155/66/95-CX (17/10/1995)

Circular No. 155/66/95-CX In this regard, the Board"s Circular No. 2/75-CX.VI dated 22.1.75 permitted export of excisable goods from duty paid stocks outside the factory premises under claim for rebate of duty provided: (a) One AR-4 was generated for one gate pass. Similarly a separate AR-4 form is generated if the duty paid consignment...

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Rounding off of Central Excise Duty in the Invoices under Rule 52A/ 57GG/ 57T

Circular No. 154/65/95-CX (17/10/1995)

Circular No. 154/65/95-CX I am directed to say that instances have come to the notice of the Board wherein some unscrupulous assessees availed MODVAT credit fraudulently by tampering the duty amount shown in the input Gate Passes/ Invoices in their RG. 23A Part - II Register. The duty amounts were found to be inflated by adding additiona...

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SEBI : Revised Carry Forward System

SMD/SED/3703/95 (16/10/1995)

The stock exchanges would be allowed to introduce carry forward system after satisfying the conditions and modalities detailed above and after seeking formal approval from SEBI in that regard. ...

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