I am directed to invite your attention to Ministry’s circular of even number dated 25.8.94 raising the free allowance of operating airlines crew members from Rs. 30 /- to Rs. 300/- and to say that it is very clearly mentioned in that circular that this free allowance is
A number of references have been received from the field formations enquiring whether Multi-modal Transport Operators (MTOs) or their Agents appointed by the Ministry of Surface Transport have to be granted Custom House Agents licence or appointed as Steamer Agents for the purposes of Customs Act, 1962. In this context I am directed to say that the Mult-modal Transportation of Goods Act
Some representations have been received from the exporters exporting goods to Russia (erstwhile soviet Union) that some Custom Houses are not accepting shipping bills under the DEEC Scheme on the grounds that the shipping bills do not indicate the value of the
Customs & Import facilities to experts assigned to India under the various Aid Schemes viz. UN and its Specialised Agencies (Regular) Programme, UNDP, Colombo Plan, India French Programme and other Bilateral Technical Cooperation Agreements with Foreign Countries
Circular No. 705-Income Tax Section 80RRA of the Income-tax Act, 1961 provides, inter alia, for deduction from the gross total income, in respect of remuneration received in foreign currency by a technician for services rendered outside India. The deduction is at the rate of 50 per cent of the remuneration or 75 per cent of the remuneration as is brought into India, whichever is higher. The terms and conditions of services outside India of such technician are to be approved for the purposes of claiming the deduction
Several cases of misuse of DEEC Scheme have been reported to the Board by the Custom Houses/ Collectorates. A gist of the mire important cases of abuse especially where modus operandi adopted could be repeated are indicated below
I am directed to state that a review of the existing policy with regard to appointment of public bonded warehouses and licensing of private bonded warehouses has been conducted by the Board. Consequently, it has been decided to liberalise the procedure on the
The Ministry has announced the new All Industry rates of Drawback effective from 16.6.1995 vide Public Notice No. 5/95, dated 15.6.1995. There are some important changes made in the description of export products, and Notes given thereunder
Notification No.S.O.530(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 7-years 13 per cent. (taxable) Secured Redeemable Non-Convertible J-Series Bonds bearing distinctive numbers 101000001 to 101500000 of Rs. 1000 each aggregating an amount of Rs. 50 crores (rupees fifty crores
Notification No.S.O.529(E) – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 9.25 per cent. per annum tax-free Secured Redeemable Non-Convertible Bonds (J-series) bearing distinctive numbers 100000001 to 101000000 aggregating an amount of Rs. 100 crores (Rupees one hundred
