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Notification No.S.O.471(E) – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specified
Circular No. 321/37/97-CX It has been reported that Board”s Circular No. 10/90/CX.8 dated 13.02.1990 denies modvat credit on raw material for making modvat credit in respect of raw materials as they are capable of being put to various uses one of which is making of ready-to-use packaging material.
Circular No. 320/36/97-CX I am directed to say that doubts have been expressed regarding correct classification of Rubberised Tyre Cord Cord Warp sheets whether or not containing weft yarn used in the manufacture of cycle tyres. It has been reported by field formations that cycle tyre manufactures are using both the type of tyre cords i.e. tyre cord containing only warps and no wefts and tyre cord containing both warps and wefts. It has also been reported that the warp sheets not containing any weft yarn are also known as “fabrics” in the trade parlance.
