Circular No. 365/81/97-CX I am directed to refer to notification No. 48/97-CE(NT) dated 2nd September, 1997 issued under Section – 12 of the Central Excises Act, 1944 amending notification No. 68/63-CE dated 4th May, 1963, making Section – 142 (1) (c) (ii) of the Customs Act, 1962 applicable to like matters in Central Excise, thereby empowering Central Excise Officers to attach and sell movable and / or immovable properties of any person who has failed to pay any sum due to government. The rules framed under this provision has consequentially become applicable to the Central Excise matters.
Circular No. 364/80/97-CX Despite clear instructions from the Board in regard to the subject, a number of instances are still coming to notice where Commissioners are proposing appeals against CEGAT Orders in cases other than involving determination of any question having a relation to the rate of duty or value of goods for purposes of assessment. Such unnecessary references are causing undue delay in regard to proper course of the action under the law.
We have been receiving requests from stock exchanges seeking clarification regarding trading rights of the members who are corporatising their individual membership, pending SEBI Registration.
Powers to Chief Commissioners/Commissioners of Central Excise. – In exercise of the powers conferred by clause (a) of section 37A of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby directs that the powers exercisable by the Central Board of Excise and Customs under the provisions of the Central Excise Rules, 1944,
Civil Appeals Nos 6082, 6083, 6084, 6085 and 6086 of 1990 and 5516 of 1997 (Appeals from the judgment and order dated March 29, 1983 of the Madras High Court in Tax Cases Nos 1065-69 of 1977 and 1070-74 of 1977),
Circular No. 363/79/97-CX Doubts have been raised whether grey woven paid fabrics after float cutting are classifiable under chapter heading 5801.21 of the CETA, 1985 as grey woven pile fabrics or under chapter heading 5801.22 as processed pile fabrics.
Circular No. 362/78/97-CX It has been brought to the notice of the Board that there are number of show cause notices on the same issue within a Commissionerate which can be decided by different adjudicating officers at different levels on the basis of monetary limit specified in the Board”s Circular No. 299/ 15/97-CX dated 27.2.97 as modified by Circular No. 328/44/97-CX dated 13.8.97, thus leading to possibility of conflicting decisions.
Attention is invited to Circular No. 15/97-Csu dt. 3.6.97. The instructions contained in Para 3, 4, & 5 of the above Circular, in sofar as they relate to verification of the Present Market Value (PMV) under DEPB Scheme, are hereby superceded by the Guidelines in this Circular
SEBI has issued clarification No. XXI to the guidelines for disclosure and investor protection providing for 100% book building process for new issues. In this connection, a copy of the circular RMB (DIP) Series Circular No. 2 (97-98) dated October 27, 1997 is enclosed for your reference.
Notification No.S.O. 815(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 specifies 11.5 per cent.–20 year Industrial Reconstruction Bank of India Bonds (Taxable) (18th series) bearing distinctive numbers
