"June, 1996" Archive

Central Excise Classification and excitability of Power Driven Pump Sets for handling water – Regarding

Circular No. 224/58/96-Central Excise (26/06/1996)

Circular No. 224/58/96-CX I am directed to say that Confederation of Indian Industry has pointed about divergence in practice of classification of power driven pump sets for handling water. A.P.D. pump set may be a pump having an inbuilt prime mover designed and built as a complete unit, called a monoblock pump-set, or a pimp and a prime...

Read More

EPCG Scheme- Merchant exporters and supporting manf. to jointly discharge the bond and bank guarantee

Circular No. 36/96- Custom Duty (25/06/1996)

Notification No. 110/95-Customs dated the 5th June, 1995 relating to 15% EPCG Scheme and notification No. 111/95-Customs dated the 5th June, 1995 relating to zero duty E.P.C.G. Scheme have been respectively amended by notifications No. 31/96-Customs and 32/96-Customs both dated 17th June, 1996. Copes of the amending notifications are encl...

Read More

Determination of Assessable value (AV) of Petroleum Products

Circular No. 223/57/96-Central Excise (21/06/1996)

Circular No. 223/57/96-CX I am directed to say that clarifications have been sought regarding com-putation of assessbed value (AV) on petroleum products attracting ad valorem rate. In the budget for 1994-95. excise duty on petroleum products was prescribed on ad valorem basis as against specific rates of duty existing prior to budget. As...

Read More

Circular No. 35/96-Custom Duty Dated 21/6/1996

Circular No. 35/96-Custom Duty (21/06/1996)

Doubts have been raised regarding classification of "embossed holograms" under First Schedule to the Customs Tariff Act 1975 (Customs Tariff), in the context of the Boards Circular No. 141/52/95- CX 4 dated 14.08.95 stating that "photo identity cards and Holograms" are classifiable under sub-heading 4901.90 of the Central Excise Tariff. S...

Read More

Duty Exemption Scheme – Clarifications on Amendment Notification

Circular No. 34/96-Custom Duty (21/06/1996)

Notification No. 22/96- Customs to 30/96- Customs all dated the 15th June, 1996 have been issued to amend notifications under Duty Exemption Scheme to give effect to the changes incorporated in the revised edition of the Exim Policy published on 25th March, 1996. Copies of the notifications are enclosed for ready reference...

Read More

Export of fruits & vegetables – Customs examination simplified

Circular No. 33/96-Custom Duty (17/06/1996)

I am directed to refer to earlier Circular No. 446/42/91-Cus. IV dated 6.8.91 which provides procedure for examination of cargo at different Customs stations...

Read More

Circular No. 32/96-Custom Duty Dated 12/6/1996

Circular No. 32/96-Custom Duty (12/06/1996)

I am directed to say that doubts have been raised regarding applicability of notification No.211/83- Customs dated 23rd July, 1983 to spare parts imported for repair of ocean going vessels, by a ship repair unit, in view of the decision of the CEGAT in the matter of Collector of Customs Bombay vs. Keshari Steels 1994 (71) ELT, 768, Making...

Read More

Notification No. S.O.426(E)-Income Tax Dated 10/6/1996

Notification No. S.O.426(E)-Income Tax (10/06/1996)

Notification No. S.O.426(E)-Income Tax In exercise of the powers conferred by sub-section (4) of section 139A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendment in the notification of the Government of India, Ministry of Finance, Department of Revenue bearing S. O. No. 379(E), ...

Read More

Circular No. 31/96-Custom Duty Dated 7/6/1996

Circular No. 31/96-Custom Duty (07/06/1996)

Vide Finance act, 1994, Section 61 of the Customs Act, 1962 was amended and the normal warehousing period in respect of capital goods warehoused by 100% EOUs have been fixed for five years which is further extendable. Further the Board had been vested with powers under section 61(2) to specify class of goods in official Gazette in which n...

Read More

Notification No. S.O.411(E)-Income Tax Dated 6/6/1996

Notification No. S.O.411(E)-Income Tax (06/06/1996)

Notification No. S.O.411(E)-Income Tax In the notification of the Government of India, Ministry of Finance, (Department of Revenue) No. S. O. 193(E), dated 14th March, 1996, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), dated 14th March, 1996:---- This notification contains Corrigendum to Income-t...

Read More

SEBI : Views of SEs on Reverse Mergers

SMD/RCG/2135/96 (05/06/1996)

There may as well be some other implications regarding the listing of such companies and hence, we would like to have the views of all the recognised stock exchanges in the matter. ...

Read More

Circular No. 221/55/96-Central Excise, Dated: 04.06.1996

Circular No. 221/55/96-Central Excise (04/06/1996)

Circular No. 221/55/96-CX Consolidated maintenance of RG-23A Part II is permitted where the inputs used are common in the manufacture of dutiable and exempted final product. However, the assessee is required to submit a statement giving details of the inputs used and the quantity of the exempted and dutiable final product manufactured, t...

Read More

Cash refund of the accumulated Modvat credit – Regarding

Circular No. 220/54/96-Central Excise (04/06/1996)

Circular No. 220/54/96-CX It has been represented that the Central Excise authorities are not sanctioning cash refunds of the accumulated Modvat credit under the provisions of rules 57F (4) of the Central Excise Rules, 1944. As a consequence, large sums of money are lying tied-up in the accumulated Modvat credit account with exporters ru...

Read More

Denial of Modvat credit on duty paid inputs owing to the variation of classification upto six-digit level- Regarding

Circular No. 219/53/96-Central Excise (04/06/1996)

Circular No. 219/53/96-CX Under the provisions of rule 57G of the Central Excise Rules, 1944 any manufacturer of the excisable goods intending to avail of the credit of duty paid on inputs of the excisable goods intending to avail of the credit of duty paid on inputs in required to file a declaration in the prescribed form giving complet...

Read More

Transit Sale – Movement of goods under rule 52A invoice- Regarding

Circular No. 218/52/96-Central Excise (04/06/1996)

Circular No. 218/52/96-CX The Board vide its Circular No. 96/7/96- CX dated 13.2.1996 clarified that under the heading "Transit sale" movement of goods could take place directly on a Rule 52 A invoice from the manufacturer"s premises to the user"s premises on an order being placed by the dealer of excisable goods without being brought to...

Read More

SEBI : Payment of SEBI Registration fees by members of the Exchange

SMD/ED/2132/96 (04/06/1996)

You may like to bring to the notice of members that non-payment of requisite fee in time will attract penal provision as prescribed under SEBI (Stock Brokers and Sub-Brokers) Rules and Regulations, 1992....

Read More

Circular No. 218/52/96-Central Excise, Dated: 04.06.1996

Circular No. 218/52/96-Central Excise (04/06/1996)

Transit Sale - Movement of goods under rule 52A invoice- Regarding. The Board vide its Circular No. 96/7/96- CX dated 13.2.1996 clarified that under the heading 'Transit sale' movement of goods could take place directly on a Rule 52 A invoice from the manufacturer's premises to the user's premises on an order being placed by the dealer of...

Read More

Search Posts by Date

December 2020
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031