"December, 1995" Archive

Circular No. 134/95-Custom Duty Dated 29/12/1995

Circular No. 134/95-Custom Duty 29/12/1995

The undersigned is directed to refer to the Board's instructions contained in its earlier Circular No. 116/95- Customs, dated 16.11.95. As already stated therein, the First Schedule to the Customs Tariff Act undergoes various changes effected through the proposals contained in the Third Schedule (Parts I & II) to the Finance Act, 1995. T...

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Central Excise Classification of Coconut Oil packed in small containers – Clarification regarding

Circular No. 166/77/95-Central Excise 29/12/1995

Circular No. 166/77/95-CX In para 9 of the said Circular it has been, inter alia, clarified that if the containers bear labels/ literature etc. indicating that it is meant for application of hair, as specified under Note 2 of Chapter 33 and/ or if the coconut oil has additives (other than BHA) or has undergone processes which make it a "...

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SEBI : Categorisaton of companies

SMD/SED/IEMI/112/95 26/12/1995

It is, therefore, requested that out of the scrips listed in your Exchange, thinly traded scrips (i.e. scrips which have not been traded at all for the past two years or more along with the date of the last trade) are identified....

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Circular No. 133/95-Cusum Duty Dated 22/12/1995

Circular No. 133/95-Cusum Duty 22/12/1995

I am directed to refer to the various instructions and circulars issued from time to time regarding setting up of ICDs / CFSs by the Public Sector Undertakings as well as by the Private Sector Undertakings. In view of growing demand for setting ICDs /CFSs in hinterland and to keep pace with fast growing import / export, it has been decide...

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Circular No. 132/95-Custom Duty Dated 22/12/1995

Circular No. 132/95-Custom Duty 22/12/1995

I am directed to state that a review of the existing policy with regard to grant of in-bond Manufacture facility under section 65 of the Customs Act, 1962 has been conducted by the Board. Consequent to the review, it has been decided that the requests for grant of in-bond Manufacture facility under section 65 of the Act will henceforth be...

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Circular No. 732-Income Tax Dated 20-12-1995

Circular No. 732-Income Tax 20/12/1995

Circular No. 732-Income Tax Under the provisions of section 172 of the Income-tax Act, 1961 seven and a half per cent of the amount paid or payable to the owner or charterer of a ship on account of carriage of passengers, livestock, mail or goods shipped at a port in India, is deemed to be income accruing in India to the owner or the cha...

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Circular No. 731-Income Tax Dated 20-12-1995

Circular No. 731-Income Tax 20/12/1995

Circular No. 731-Income Tax Under the provisions of section 80-O of the Income-tax Act, 1961 an Indian company or a non-corporate assessee, who is resi­dent in India, is entitled to a deduction of fifty per cent of the income received by way of royalty, commission, fees, etc., from a foreign Government or foreign enterprise for the use ...

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Drawback on cotton power loom made ups permissible

DBK Circular No. 130/95-Custom Duty 19/12/1995

Representations have been received from the exporters of Cotton Power loom made-ups (bed sheets) under S.S. No. 6305 (Old 2702(5)) of the Drawback Table where exporters' claim for drawback have not been allowed by the Customs Houses on the ground that drawback at the specific rate of Rs. 4.35 per piece works out to less than Rs. 5000/-per...

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Poultry and poultry products – No need for counter signature on Health Certificate

Circular No. 129/95-Custom Duty 19/12/1995

I am directed to draw your attention to the Minister's instructions F.No. 478/29/ 88-Cus. VII (copy enclosed)1 regarding the requirement of countersignature of Quarantine officer on the Health Certificates and to say that is has been decided in consultation ...

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Circular No. 165/76/95-Central Excise, Dated:18.12.1995

Circular No. 165/76/95-Central Excise 18/12/1995

Circular No. 165/76/95-CX Representations have been received that invoices issued by consignment agents during the period 01.04.1994 to 03.07.1994 are not being considered as valid duty paying document for the purpose of availment of Modvat credit under rule 57G of the Central Excise Rule, 1944 as they were not covered within the Notific...

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