"March, 1997" Archive - Page 2

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

Circular No. 305/21/97-CX (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. ...

Read More

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...

Read More

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 ...

Read More

Circular No. 303/19/97-CX Dated 11/3/1997

Circular No. 303/19/97-CX (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...

Read More

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

Circular No. 302/18/97-CX (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...

Read More

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...

Read More

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

Circular No. 300/16/97-CX (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....

Read More

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....

Read More

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....

Read More