"November, 1995" Archive

SSI Units with turnover of Rs 30 lakhs also to follow AR4 Procedure

Circular No. 160/71/95-Central Excise (29/11/1995)

Circular No. 160/71/95-CX In this regard references have been received from the field formations that a large number of units whose turnover for export run into few crores are not following AR-4 procedure for export on the plea that their turnover for home consumption is less than Rs. 30 lakhs. Further, some unscrupulous manufacturers ar...

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Circular No. 159/70/95-Central Excise, Dated 29/11/1995

Circular No. 159/70/95-Central Excise (29/11/1995)

Circular No. 159/70/95-CX Representations have been received from the Trade regarding the difficulties being faced in mentioning the amount of duty per unit under Sl. No. 1 (h)(ii) and 5 (g)(ii) of the invoice issued under Rule 57G/ 57T wherein a single invoice contains various items having different prices and are liable to duty at the ...

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EOUs/ EPZ Units- Policy issues to be referred to CBEC before issue of Show Cause Notice

Circular No. 122/-95-Custom Duty (28/11/1995)

I am directed to say that certain instances have been brought to the notice of the Board, wherein show cause notices have been brought to the notice of the Board, wherein show cause notices have been issued to units working under the EOU/ EPZ scheme on matters involving interpretations of provisions and scope of exemption notification, el...

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Engg. Product Export Scheme – Modvat permitted on inputs – Spares Import allowed

Circular No. 121-95-Custom Duty (23/11/1995)

Engineering Products Export (Replenishment of Iron & Steel Intermediates) Scheme was notified by Ministry of Commerce on 1st March, 1995 and the Department of Revenue had issued Notification No. 10/95- Customs dated the 7th March, 1995 to give effect to the said scheme. In view of representations made by the Engineering Products exporters...

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EPCG / Advance Licences – Third Party Exports can be counted towards Export Obligation

Circular No. 120/95-Custom Duty (23/11/1995)

After introduction of para 41(II) and para 59 (A) in the EXIM Policy (92-97) with effect from 30th March, 1994, under which exports by Advance Licence holders through third party were allowed, doubts were expressed by some of the Commissioners of Customs whether and how the export through a third party by an Advance Licence holder under D...

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Grant of Private Bonded warehouse licence in SEEPZ – Asstt. Comm. authorised to grant the licence

Circular No. 119/95-Custom Duty (22/11/1995)

I am directed to say that a request has been received from the Development commissioner, SEEPZ for delegation of powers to Assistant Commissioner of Customs, SEEPZ relating to grant of private bonded warehouse licence under section 58 of the Customs Act, 1962 in SEEPZ a Bombay...

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SEBI : Total amount of transactions on exchanges

SMD-1(N)/JS/4158/95 (21/11/1995)

You are requested to send year wise total amount of transactions on the stock exchange, (single side) since 1990....

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Circular No. 118/95-Custom Duty Dated 21/11/1995

Circular No. 118/95-Custom Duty (21/11/1995)

Rule 13(1) of Customs and Central Excise Duties Drawback Rules, 1995 permits a claim to be filed within three months from the date relevant for the applicability of amount or rate of drawback in terms of sub-rule (3) of rule 5. The proviso to said sub-rule provides that the Assistant Commissioner of Customs may, if he is satisfied that ex...

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Circular No. 158/69/95-Central Excise, Dated: 21.11.1995

Circular No. 158/69/95-Central Excise (21/11/1995)

Circular No. 158/69/95-CX It has been brought to the notice of the Board that units having facilities for twisting/ texturising the yarn and then dying / printing/ bleaching/ mercerising are being denied the benefit of exemption will not be available under Not. No. 35/95-CE dt. 16.3.95 after the addition of proviso vide Not. No. 84/95-C...

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Notification No. S.O.924(E) – Income Tax Dated 20/11/1995

Notification No.S.O.924(E) - Income Tax (20/11/1995)

Notification No.S.O.924(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 following Secured Redeemable Non-Convertible Bonds issued by the Steel Authority of India Limited, New Delhi, for the purpose o...

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DEEC -Issue of TRA for imports under DEEC further clarification

Circular No. 117/95-Custom Duty (17/11/1995)

Please refer to the Ministry's earlier Circular No. 12/95-Cus. dated 20.2.95 and Circular No. 51/95-Cus. dated 24th May, 1995 regarding issue of Telegraphic Release Advice (TRA) for imports under DEEC Scheme. Some representations have been received form the trade circles complaining about delay in issue of TRA. Reasons cited for delay ...

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Availing of credit on duplicate copy of Bill of Entry generated on EDI systems – Regarding

Circular No. 157/68/95-Central Excise (17/11/1995)

Circular No. 157/68/95-CX I am directed to refer to the provisions of rule 57 G providing that the triplicate copy of the Bill of Entry shall be used for taking Modvat Credit. In this regard attention of the Board has been invited to the fact that consequent to the introduction of processing Bill of Entry on EDI system in the Deli Commis...

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Circular No. 156/67/94-Central Excise; Dated:17.11.1995

Circular No. 156/67/94-Central Excise (17/11/1995)

Circular No. 156/67/94-CX As you are aware, in pursuance of the Supreme Courts" directive for reducing litigation between the Deptt. of Revenue and PSUs, ect, litigation"s before CEGAT and Courts can be pursued only with the prior clearance of the High Powered Committee on Disputes constituted in the Cabinet Sectt. Those cases which are ...

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Customs Tariff New HS Code Effective from January 1996

Circular No. 116/95-Custom Duty (16/11/1995)

The undersigned is directed to refer to the provisions of the Finance Bill, 1995, later enacted as the Finance Act, 1995, Section 69(b) of which proposes certain amendments to the First Schedule to the CTA '75, as detailed in the Third Schedule to the said Act. It has also been provided that the said amendments shall take effect from a da...

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SEBI : Turnover data

SMD/AA/4081/95 (15/11/1995)

monthly gross turnover data (single side) for the months of April, 1995 till date. Gross turnover (net of jobbing) on single side basis may also please be indicated....

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SEBI : (Foreign Institutional Investors ) Regulations, 1995

Notification No. SEBI/LE/918(E) (14/11/1995)

The registration fee indicated above shall be payable by a (cheque), draft or other instrument drawn in favour of "The Securities and Exchange Board of India" payable at Bombay or at the respective regional office....

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This notification exempts goods manufactured in India and re-imported for repairs/reconditioning/reprocessing/refining/remaking etc

Notification No. 158/95-Customs [G.S.R. 744(E)] (14/11/1995)

That he shall pay, on demand, in the event of his failure to comply with any of the aforesaid conditions, an amount equal to the difference between the duty leviable on such goods at the time of importation but for the exemption contained herein....

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Notification No. S.O.3075 – Income Tax Dated 10/11/1995

Notification No.S.O.3075 - Income Tax (10/11/1995)

Notification No.S.O.3075 - Income Tax It is notified for general information that M/s. Parashwanath Housing Finance Corporation Limited, Harsiddha Chambers, 3rd Floor, Ashram Road, Ahmedabad-380 014 have been approved by the Central Government as a housing finance company for the purposes of section 36(1)(viii) of the Income-tax Act, 196...

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Pass Book Scheme – Clarification on operations of New Scheme amended by Notif. No. 115/95-Cus.

Circular No. 115/95-Custom Duty (08/11/1995)

Notification No. 104/95-Customs dated the 30th May, 1995 relating to Pass Book Scheme has been amended by Notification No. 115/95-Customs dated the 27th October, 1995 (copy enclosed for ready reference)1. The amendment has been carried out to prescribe the modalities for allowing credit in the Pass Book, to specify that the Pass Book or t...

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Notification No. S.O.872(E) – Income Tax Dated 3/11/1995

Notification No.S.O.872(E) - Income Tax (03/11/1995)

Notification No.S.O.872(E) - Income Tax In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Indbank Communications (Offshore) Fund set up under the trust deed dated 6th September, 1994, by the Indbank Merchant Banking Services Limited and appr...

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Circular No. 114/95-Custom Duty Dated 2/11/1995

Circular No. 114/95-Custom Duty (02/11/1995)

I am directed to refer to the correspondence resting with Board's letter F.No. 483/ 14/ 88-Cus-VII dated 14th October 1988 and 6th June, 1991(copies enclosed)1 on the above subject and to say that in para 1 of the said letter after, Item No. (xiii), following item may be inserted...

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Circular No. 729-Income Tax Dated 1-11-1995

Circular No. 729-Income tax (01/11/1994)

Circular No. 729-Income tax The deduction under section 80HHC is available, as at present, in respect of "cut and polished minerals and rocks including cut and polished granites" with effect from 1-4-1991 by virtue of insertion of item ( x) in the Twelfth Schedule to the Income-tax Act, 1961. The export of dimensional...

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