in the event if cancellation/suspension of the registration as stock broker because of any disciplinary action taken against the member by Exchange/SEBI, the member will not be eligible to be elected and/or to continue on the Governing Board.You are advised to implement the above with immediate effect.
Circular No. 280/114/96-CX Under Boards Circular No. 128/39/95-dated 25.5.95, it was clarified that imitation or real zari made of gold, silver thread or man-made metallic yarn made out of duty paid polyester film (metallised / lacquered) namely kaseb, kalabatu. tilla, wire thread or zari thread and metallic yarn should be treated as handicrafts for the purposes of Notification No. 76/86 dated 10.2.86.
Circular No. 748-Income Tax Sections 54EA and 54EB of the Income-tax Act, 1961 have been introduced by the Finance (No. 2) Act, 1996 with effect from 1-10-1996 will consequently apply in relation to transfer of long-term capital assets on or after this date. Capital gains tax will be exempted in cases where net consideration (section 54EA) or the capital gains (section 54EB) is invested in certain approved instruments.
It has come to the notice of the Board that adjudicating authorities at different levels are holding different opinions whether free allowance would be permitted on import of baggage’s, where part of the goods are found to be in commercial quantity. The issue of import of consumer goods in commercial quantity had earlier been examined by Board and instructions were issued vide circular No.
(a) the goods [other than the goods exported under the Duty Exemption Scheme (DEEC) or the Export Promotion Capital Goods Scheme (EPCG) or Duty Entitlement Passbook Scheme (DEPB) are re-imported within three years after their exportation or within such extended period, not exceeding two years, as the Commissioner of Customs may on sufficient cause being shown for the delay, allow
Notification No. 81/95- Customs dated 31.3.95 requires the waste including the resultant product to be re-exported after the inputs imported under the benefit of said notification have been subjected to the jobbing operation. Some representations have been received
Circular No. 279/113/96-CX M/s Indian Oil Corporation Ltd. had availed exemption under Notification No. 120/84-CE dated 11.5.84 in respect of clearances of circulating oils and hydraulic oils from refinery situated at Trombay. SCN”s were issued for imposition of penalty on the ground that these oils were not ordinarily used as lubricating oils.
Circular No. 278/112/96-CX Representations have been received to the effect that additional duty of excise under Additional Duty of Excise (Textile & Textile Articles) Act, 1978 (hereinafter referred to as the said Act) is being demanded on goods exported under bond under rule 13 of Central Excise Rules, 1944 causing undue hardship to exporters and it has, therefore, been requested to issue a suitable clarification.
Your attention is invited to Notifications No. 13/81-Cus. dated 9.2.1981 and 138/91-Cus. dated 22.10.1991, which allows duty free import of capital goods, raw materials etc. to software development units for exports. These units could be 100% EOUs or and be situated in Software Technology Complex. Notification No. 88/96-Cus. and 89/96-Cus. both dated 19th Nov., 1996 have been issued
Notification No. 81/95- Customs dated the 31st March, 1995 has been amended by Notification No. 87/96-Cus. dated the 18th November, 1996(Copy enclosed)1 to provide that jobbing operations would not be carried out in a Ware House under the provisions of
