"November, 1995" Archive

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

Circular No. 160/71/95-CX (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-CX Dated 29/11/1995

Circular No. 159/70/95-CX (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-CX Dated 21/11/1995

Circular No. 158/69/95-CX (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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