"July, 1996" Archive

Circular No. 235/69/96-Central Excise, Dated: 31.07.1996

Circular No. 235/69/96-Central Excise (31/07/1996)

Circular No. 235/69/96-CX Attention in invited to the above cited decision of Madras High Court reported in (1992) 40 EEC 31 (Madras). Hon ble High Court has observed that no manufacturer will be charitable enough to exclude customs duty paid on the raw material, from the price of finished products". Hon blle Court has further held that ...

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Circular No. 746-Income Tax Dated 26-7-1996

Circular No. 746-Income Tax (26/07/1996)

Circular No. 746-Income Tax Section 80Q inserted by the Finance (No. 2) Act, 1991, with effect from 1-4-1992 provides that where in the case of an asses­see the gross total income of the previous year relevant to the assessment year commencing on the 1st day of April, 1992 or to any one of the four assessment years next following that as...

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Central Excise – Whether time-limit for filing rebate claim under Rule 12(1) of Central Excise Rules, 1994 can be relaxed- Regarding

Circular No. 234/68/96-Central Excise (26/07/1996)

Circular No. 234/68/96-CX Attention in invited to proviso to sub-rule 1 of Rule 12 of Central Excise Rules,1944 whereby the Commissioner of Central Excise can relax all or any of the conditions of any notification issued under this rule if he is satisfied that the goods have actually been exported and records the reasons in writing. A do...

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Circular No. 233/67/96-Central Excise, Dated: 25.07.1996

Circular No. 233/67/96-Central Excise (25/07/1996)

Circular No. 233/67/96-CX Representations have been received from the Trade regarding denial of MODVAT Credit on invoices generated through Computer by registered dealers where the said persons have failed to submit the details of the software used including the format for information of the Assistant Commissioner of Central Excise in te...

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Reversal of Modvat credit availed in inputs used in the manufacture of exempted final products

Circular No. 232/66/96-Central Excise (25/07/1996)

Circular No. 232/66/96-CX Consolidated maintenance of RG 23 A part -II is permitted where the inputs are used in the manufacture of exempted and dutiable final products vide Board"s Circular No. 33/33/94-CX dated 04.05.1994. However, in such cases a statement has to be submitted by the assessee in the prescribed proforma showing particul...

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Notification No. 51/1996-Customs, Dated: 23-7-1996

Notification No. 51/1996-Customs [G.S.R. 303(E)] (23/07/1996)

(i) an institution declared under section 3 of the University Grants Commission Act, 1956 (3 of 1956) to be a university for the purposes of that Act; (ii) an institution declared by Parliament by law to be an institution of national importance; (iii) a college maintained by, or affiliated to, a University;...

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Notification No. 50/1996-Customs, dated: 23-7-1996

Notification No. 50/1996-Customs (23/07/1996)

(i) the total cost of the project; (ii) the cost of the project shared by such Ministry or Department, as the case may be; (iii) the value of the goods already imported under this notification; (iv) that the goods are imported for the purposes of the said project...

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Notification No. 49/1996-Customs, Dated: 23/07/1996

Notification No. 49/1996-Customs (23/07/1996)

The goods specified in the Table to the Notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002 against S. No. 83 [in column (3) at item Nos. (A) and (C)], 140,160,161 (only blank travellers cheques), 64,245,247,363,367,369 & 370....

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This notification exempts articles imported against an Annual advance License from the levy of Anti dumping duty

Notification No. 43/1996-Customs [G.S.R. 295 (E)] (23/07/2199)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts goods falling within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), on which a manufacturing process w...

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Notification No. 22/96-Central Excise; Dated: 23.07.1996

Notification No. 22/1996-Central Excise (23/07/1996)

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excises and Salt Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) (hereinafter referred to as the said Special Importance Act),...

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Notification No. 9/96-Central Excise ; Dated : 23.07.1996

Notification No. 9/1996-Central Excise [G.S.R 307(E).] (23/07/1996)

The exemption shall not apply to woven fabrics of wool, cotton, or man-made fibres, if such fabrics are processed in a factory having facilities (including plant and equipment) for carrying out bleaching, dyeing or printing or any one or more of these processes with the aid of power or steam....

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This notification notifies projects for assessment under heading 9801

Notification No. 42/1996-Customs (23/07/1996)

In exercise of the powers conferred by sub-item (6) of heading No. 98.01 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), the Central Government, having regard to the economic development of the country, hereby notifies each of the projects specified below as a project for the purpose of assessment under the said headin...

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This notification exempts specified goods imported by Defence and internal security forces.

Notification No. 39/1996-Customs [G.S.R. 291(E)] (23/07/1996)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts goods of the description specified in column (2) of the Table hereto annexed and falling within the First Schedule to the C...

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This notification exempts specified goods of Bhutanese or Indian origin

Notification No. 38/1996-Customs [G.S.R. 290(E)] (23/07/1996)

Exported to the foreign country or, as the case may be, to Bhutan; (c) Goods imported into India from Nepal for the purpose of export to a foreign country and all goods imported into India from a foreign country for the purpose of export to Nepal, when exported to the foreign country or, as the case may be, to Nepal....

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Circular No. 745-Income Tax Dated 19-7-1996

Circular No. 745-Income Tax (19/07/1996)

Circular No. 745-Income Tax Representations have been received for grant of exemption from the requirement of deduction of income-tax at source under section 193 of the Income-tax Act, on the payment of income by way of interest on securities to Ramakrishna Math and Ramakrishna Mission whose income is exempt under clause (iv) of section 1...

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EPCG / DEEC Scheme – Monitoring of Export obligation

Circular No.40/96- Custom Duty (19/07/1996)

Attention is invited to Ministry's Circular No. 24/96- Customs dated the 19th April, 1996 modifying the instructions issued issued vide Circular No. 131/95 dated 20.12.95 for monitoring of export obligation under Duty Exemption Scheme and E.P.C.G. Scheme...

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SEBI : Uniform Norms for Good/Bad Deliveries

SMD/RCG/2796/96 (16/07/1996)

The validity period of Company Objection by the last buying broker to be notified to the Exchange/introducing broker will be 36 months from the date of payment by the buyer....

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Central Excise – Excisability on Split Air-conditioners and units thereof- Regarding

Circular No. 231/65/96-Central Excise (12/07/1996)

Circular No. 231/65/96-CX A doubt has been raised whether units of the split air - conditioner viz., cooling or the room unit and the condensing unit when cleared separately would be eligible for concessional rate of duty available to the parts and assessories of split air-conditioner under Notification No. 56/95- dated 16.3.1995....

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Drawback on exports made before 2.4.95- Conversion of Free Shipping Bill into Drawback Shipping Bill allowed

Circular No. 39/96-Custom Duty (11/07/1996)

In the Import and Export Policy 1992-97, w.e.f. 1/4/1995, an addl. duty of Customs (C.V.D.) was imposed on all imports made under the DEEC Scheme in terms of para 47 of the Policy. Therefore, for all imports made under DEEC Scheme, i.e. whether against Quantity Based Advance Licence of value Based Advance Licence, issued on or after 1.4.1...

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SEBI : Registration of Brokers

SMD/MDP/2719/96 (10/07/1996)

The transferor has paid SEBI turnover fee for all the previous years including that related to transactions of current year. There are no fee dues payable to SEBI by the transferor member. ...

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Circular No. 230/64/96-Central Excise, Dated: 10.07.1996

Circular No. 230/64/96-Central Excise (10/07/1996)

Circular No. 230/64/96-CX The procedural restriction envisaged in sub-rule (2) and 2(A) of rule 224, read with sub-rule (2) or rule 173G of the Central Excise Rules, 1944, regarding removal of excusable goods after 6 P.M. on the day preceding the Budget Day and also no the Budget Day, should be strictly enforced on all assessees, includi...

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Duty Exemption scheme – Gold by MMTC for sale/ loan to jewellery exporters – Procedure Notified

Circular No. 38/96-Custom Duty (09/07/1996)

Under para 88 of the EXIM Policy read with the various relevant customs exemption notification (Nos. 177/ 94, 3/88, 277/90 and 144 /93) MMTC / SSI / STC / HHEC are authorised to import gold and sell/ lend the same to actual users in the various EPZs or to exporters in the EOU / DTA sector, with an export obligation imposed thereon. Curren...

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Circular No. 229/63/96-Central Excise, Dated: 08.07.1996

Circular No. 229/63/96-Central Excise (08/07/1996)

Circular No. 229/63/96-CX I am directed to draw your attention to new Rule 13(1)(a) of Central Excise Rules,1944 effected by Notification No. 40/94 dated 22.9.94. A doubt has been expressed whether erstwhile facility which was provided to the industry by the Board by clarification through letter F.No. 209/41/88-CX. 6 dated 6.3.89, (i.e. ...

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Central Excise – Issue of show cause notice for raising demand at the time of assessment of RT-12

Circular No. 228/62/96-Central Excises (08/07/1996)

Circular No. 228/62/96-CX A doubt has arisen on account of conflicting views taken by various Hon"ble High Court and CEGAT on the issue whether a Demand -Cum-Show-Cause-Notice under Section 11A of Central Excises & Salt Act, 1944 is required to be issued once assessment of RT - 12 is finalised and the Superintendent of Central Excise ind...

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Central Excise – Classification of Aluminium/ Steel Grills used in air conditioners – Regarding

Circular No. 227/61/96-Central Excise (04/07/1996)

Circular No. 227/61/96-CX In DAP No. 128/94, the audit has contended that aluminium and steel grills used in air conditioners are classifiable under Heading 84.15. A doubt has been raised whether these grills are classifiable as an article of aluminium and steel under Chapter 76 and 72 or as part of air conditioner under Chapter 84....

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Circular No. 226/60/96-Central Excise, Dated: 03.07.1996

Circular No. 226/60/96-Central Excise (03/07/1996)

Circular No. 226/60/96-CX The Board has been informed that in cases in which citric acid i.e. preservative is not added in the preparation of sugar solution, the parties are contending that the solution does not have any shelf life and not marketable....

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Classification of different items imported for breaking up

Circular No. 37/96-Custom Duty (03/07/1996)

I am directed to say that doubts have been raised in the context of an audit para regarding classification of (i) movable gears such as lifting and handling machinery, anchors, navigational equipment's, machine tools, fire fighting equipment (ii) bankers, such fuel oil, engine oil and (iii) ship stores, such as spare parts, food stuffs, a...

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Central Excise – Classification of iron and steel castings- Regarding

Circular No. 225/59/96-Central Excise (01/07/1996)

Circular No. 225/59/96-CX I am directed to invite your kind attention to Circular No. 23/89 F.No. 139/7/88-CX.4) dated 28th July, 1989 wherein it was clarified that castings as they emerge from the mould or after fettling etc. would be appropriately regarded as semi-finished articles if having the essential character of the finished mach...

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