"March, 1997" Archive

Notification No. S.O.1873 – Income Tax Dated 31/3/1997

Notification No.S.O.1873 - Income Tax (31/03/1997)

Notification No.S.O.1873 - Income Tax In exercise of the powers conferred by clause (22B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies United News of India as a news agency set up in India solely for collection and distribution of news, for the purposes of the said clause for the assess...

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Under – valuation of imported goods – Adjudication of cases

Circular No. 7/97-Custom Duty (31/03/1997)

I am directed to refer your D.O.F. No. ADC / GB-3 / 96-Misc. dated 18.12.96 addressed to Director (Customs) regarding the powers of adjudicating authority in case of under valuation of imported goods. You have referred to Board's circular No. 8/95-Cus., dated 23.1.95 which provide that in case of under valuation of imported goods where th...

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Classification of drinks made from frozen fruit pulp, fruit pulp concentrates and fruit pulp – Clarification regarding

Circular No. 309/25/97- Central Excise (31/03/1997)

Circular No. 309/25/97-CX I am directed to say that a doubt has arisen on the classification of the drinks made from frozen fruit pulps, fruit pulp concentrates and the fruit pulps. The trade has represented that the tariff entry fruit pulp based drinks in heading No. 2202.30 may be revised to read as fruit pulp based drinks, fruit juice...

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Notification No. S.O.252(E) – Income Tax Dated 27/3/1997

Notification No.S.O.252(E) - Income Tax (27/03/1997)

Notification No.S.O.252(E) - Income Tax In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following assets, referred to as the long-term specified assets, for the purposes of the said section...

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Notification No. S.O.251(E) – Income Tax Dated 27/3/1997

Notification No.S.O.251(E) - Income Tax (27/03/1997)

Notification No.S.O.251(E) - Income Tax In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following bonds and equity shares for the purposes of the said section, namely:...

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Central Excise – Excisability and classification of cable Jointing Kits – Regarding

Circular No. 308/24/97-Central Excise (27/03/1997)

Circular No. 308/24/97-CX I amd directed to say that certain doubts have been expressed as to whether the process of putting together a number of duty paid articles into a container like carton, kit etc. to be marketed as Cable Jointing Kits would amount of manufacture or not. In this process either the duty paid articles are procured en...

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Circular No. 752-Income Tax Dated 26-3-1997

Circular No. 752-Income Tax (26/03/1997)

Circular No. 752-Income Tax Under the provisions of section 80G of the Income-tax Act, 1961, contributions made to the A.P.C.M’s Cyclone Relief Fund have been made fully exempt from tax, and can hence be taken as a deduction from total income....

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Glassware of a kind used for table, kitchen etc. – Regarding

Circular No. 307/23/97- Central Excise (25/03/1997)

Circular No. 307/23/97-CX I am directed to refer to Sr. No. 162 of notification No. 4/97-Central Excise, dated the 1st March, 1997 and Sr. No. 124 of notification No. 5/97-Central Excise, dated the 1st March, 1997 and to say that whereas the former prescribes a rate of duty of 13% ad valorem for glassware produced by semi-automatic proce...

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Availability of Modvat credit on inputs used by job workers in job-working contracts – Regarding

Circular No. 306/22/97- Central Excise (20/03/1997)

Circular No. 306/22/97-CX Instances have come to the notice of the Board where job-workers have availed the credit on inputs used for job-work done by them under the provisions of rule 57F(4) of the Central Excise Rules, 1944....

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Notification No. G.S.R. 155(E), dated 19.03.1997

Notification No. G.S.R. 155(E) (19/03/1997)

(iv) that the company is not in default in the repayment of any deposit or part thereof and any interest thereupon in accordance with terms and conditions of such deposits....

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Reversal of credit in VBAL cases – Whether Certificate can be issued to merchant exporters

Circular No. 305/21/97- Central Excise (18/03/1997)

Circular No. 305/21/97-CX It has been brought to the notice of the Board that certain Central Excise formations have issued certificates to merchant exporters who had exported the goods under Value Based Advance Licence (VBAL) to the effect that they have not availed the modvat facility. ...

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Harmonised System of Classification – Interpretative Rules Amended

Circular No. 6/97-Custom Duty (14/03/1997)

I am directed to say that in its 18th session the Harmonised Systems Committee of the World Customs Organisation had, inter alia, examined the classification of various articles. Important classification decision taken by the committee are enclosed at Annexure A1. One of the decision relates to amendment of explanatory note to Interpretat...

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EPCG Scheme – Customs Instructions Revised

Circular No. 5/97-Custom Duty (14/03/1997)

Consequent upon changes introduced in the Export Promotion Capital Goods (EPCG) Scheme w.e.f. 1.5.95, Directorate General of Inspection was requested to have a study conducted of the Standing Orders / Public Notices issued by various Custom Houses in this regard with a view to ensure that a uniform and effective system is followed by all ...

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Circular No. 303/19/97- Central Excise, Dated: 11.03.1997

Circular No. 303/19/97- Central Excise (11/03/1997)

Circular No. 303/19/97-CX Representations have been received by the Board stating that the facility of duty free clearances of the intermediate goods for the manufacture of export goods are being denied on the ground that Chapter X procedures comprising of inter alia, namely - inbond manufacture of export goods, maintenance of separate s...

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Denial of exemption to 100% EOUs on various items falling under the category of green house equipment -Reg

Circular No. 302/18/97- Central Excise (10/03/1997)

Circular No. 302/18/97-CX Representations have been received from trade and industry with regard to denial of duty exemption to Ultraviolet Plastic Sheets by field formations when brought in connection with the production or manufacture or packaging of articles inside the 100% EOUs, in context of Notification No.136/94-CE dated 10.11.94...

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Notification No. S.O.174(E) – Income Tax Dated 7/3/1997

Notification No.S.O.174(E) - Income Tax (07/03/1997)

Notification No.S.O.174(E) - Income Tax In exercise of the powers conferred by clause (iiia) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, the purpose of that clause, the difference payable between the redemption value and the bid price of Zero Coupon Bonds of the Governm...

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Amendment in Form RT-12 to provide Opening Balance & Closing Balance- Regarding

Circular No. 300/16/97- Central Excise (03/03/1997)

Circular No. 300/16/97-CX It has been brought to the notice of the Board that in absence of Opening Balance and Closing Balance in the said format of Form RT-12 is posing difficulties in the on-line Computerised verification of RT-12 Returns. It has, therefore, been decided to modify the columns of the Form RT-12....

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Notification No. 8/97-Central Excise; Dated: 01.03.1997

Notification No. 08/1997-Central Excise (01/03/1997)

Provided that nothing contained in this notification shall apply where such finished products, if manufactured and cleared by a unit other than a hundred per cent export-oriented undertaking or a unit in a free trade zone, are wholly exempt from the duties of excise or are chargeable to Nil rate of duty....

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Notification No. G.S.R.126(E), dated 01.03.1997

Notification No. G.S.R.126(E) (01/03/1997)

In exercise of powers conferred by clauses (a) and (b) of sub-section (1) of Section 642 of the Companies Act, 1956 (1 of 1956) and all others powers hereunto enabling, the Central Government hereby makes the following rules further to amend the Companies (Central Government's) General Rules and Forms, 1956....

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