In exercise of the powers conferred by section 30 read with clause (c) of sub-section (2) of section 11 of the Securities and Exchange Board of India, Act 1992, (15 of 1992) the Securities and Exchange Board
During the 35th Meeting of Customs & Central Excise Advisory Council held on November 4, 1995, it was proposed to constitute a Standing Committee to review on a continuous basis the problems and representations of trade and industry. The Board has accepted the suggestion. Accordingly a standing committee is set up to examine, and review the problems and difficulties of the trade and
I am directed to refer D.O. letter No. 16/5/92 – Infra I, dated 6.1.94 received from Director (Infra-I) on the above subject. The issue was examined in consultation with various Commissioners of Customs and Director General of Inspection. On the basis of views
In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) the Securities and Exchange Board of India hereby, makes the following regulations.
Circular No. 277/111/96-CX It has been brought to the notice of the Board that credit have been denied/ sought to be denied by the field formations in cases where the assessees having their factory/ unit already in operation, had availed and utilised Modvat credit of specified duty on capital goods immediately after receipt of the capital goods in their factory
Circular No. 276/110/96-TRU Rules 57Q of the Central Excise Rules, 1944 allows credit of duty paid on capital goods used by the manufacturer of Specified goods. Capital goods eligible for credit have been defined in Explanation (1) annexed to Rule 57Q. Clause (a) to (c) of the said explanation cover specified capital goods falling under Chapter 82, 84, 85 and 90 and clause (d) covers components, spares and accessories of the said capital goods.
Circular No. 747-Income Tax Reference is invited to Circular No. 724, dated 29th September, 1995 wherein the rates of deduction of income-tax from the payment of income under the head “Salaries” under section 192 of the Income-tax Act, 1961, during the financial year 1995-96, were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 1996-97 and explains certain related provisions of the Income-tax Act.
Attention is invited to the notifications permitting duty free procurement of capital goods and spares of the capital goods, by the Units working under the schemes of 100% EOUs, Export Processing Zones, Electronic Hardware Technology Parks for Software Technology Parks. A doubt has arisen whether duty free procurement of airconditioners is admissible as capital goods under above such
I am directed to refer sub-section 3 of section 45 of the Customs Act, 1962 inserted by clause 58 of the Finance Act, 1995 for recovery of duty from the custodians on goods pilfered after unloading in customs area
Circular No. 275/109/96-CX I am directed to invite attention to the various points raised with regard to availing of credit under the Modvat Scheme, documentation and procedure to be followed. In this connection the points raised by trade and the Commissioners and the Clarification
