"May, 1998" Archive

Monitoring of export obligation under EPCG scheme

Policy Circular No. 8 (RE-98)/98-99 (28/05/1998)

The export proceeds realised in any currency shall be converted, except in cases where the entire imports and the entire exports are made in one foreign currency, into US Dollars at the exchange rate prevailing on the date of issuance of EPCG licence which has been endorsed on the reverse of the licence with a view to ascertain whether ex...

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Notification No. S.O. 467(E)-Income Tax Dated 27/5/1998

Notification No. S. O. 467(E)-Income Tax (27/05/1998)

Notification No. S.O. 467(E)-Income Tax equity to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 913 crores by the Reliance Power Ltd., a public company registered under the Indian Companies Act, 1956, and having its registered office at Avdes...

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Notification No. S.O. 468(E)-Income Tax Dated 27/5/1998

Notification No. S. O. 468(E)-Income Tax (27/05/1998)

Notification No. S.O. 468(E)-Income Tax equity to be issued within a period of one year from the date of publication of this notification in the Official Gazette, of an amount not exceeding Rs. 1,524.3 crores by the Reliance Telecom Ltd., a public company registered under the Indian Companies Act, 1956 and having its registered office at...

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Notification No. S.O. 469(E)-Income Tax Dated 27/5/1998

Notification No. S. O. 469(E)-Income Tax (27/05/1998)

Notification No. S.O. 469(E)-Income Tax Bonds to be issued by the Wind Energy System Care (India) Ltd., Chennai, a public company registered under the Indian Companies Act, 1956 and having its registered office at Rani Arcade, 24, 1st Avenue, Ashok Nagar, Chennai 600 083, within one year from the date of publication of this notification, ...

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Notification No. S.O. 470(E)-Income Tax Dated 27/5/1998

Notification No. S. O. 470(E)-Income Tax (27/05/1998)

Notification No. S.O. 470(E)-Income Tax Bonds to be issued by the Wind Energy System Care (India) Ltd., Chennai, a public company registered under the Indian Companies Act, 1956 and having its registered office at Rani Arcade, 24, 1st Avenue, Ashok Nagar, Chennai 600 083, within one year from the date of publication of this notification, ...

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Circular No. 39/98-Customs Duty Dated 26/5/1998

Circular No. 39/98-Customs Duty (26/05/1998)

Please refer to this office letter of even no. dated 20.4.98 prescribing procedure for import of gold/ silver and platinum jewellery Export Promotion Scheme...

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Private Bonded Warehouses for imports

Policy Circular No. 7 (RE 98)/98-99 (25/05/1998)

For taking supplies from such Private Bonded Warehouses no further endorsement of any kind on such specific licence or Advance Licence from the Licensing Authorities would be required. Accordingly, these licences which are valid for imports would be valid for taking supply from Private Bonded Warehouses also....

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Notification No. S. O. 1086-Income Tax Dated 25/5/1998

Notification No. S. O. 1086-Income Tax (25/05/1998)

Notification No. S. O. 1086-Income Tax It is notified for general information that M/s. Global Housing Finance Corporation Ltd., A-Wing, 307, Mittal Towers, Nariman Point, Mumbai-21 have been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessm...

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Notification No. S. O. 1087-Income Tax Dated 25/5/1998

Notification No. S. O. 1087-Income Tax (25/05/1998)

Notification No. S. O. 1087-Income Tax It is notified for general information that Berar Housing Finance Limited, J. P. Chambers, South Ambazari Road, Shraddhanandpeth, Nagpur, has been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment ye...

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Circular No. 767-Income Tax Dated 22-5-1998

Circular No. 767-Income Tax (22/05/1998)

Circular No. 767-Income Tax Circular No. 759 dated 18-11-1997 was issued by the Board to dispense with the requirement of submission of a No Objection Certificate from income-tax authorities for remittance to a non-resident as required by the Reserve Bank of India (RBI)....

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Circular No. 38/98- Customs Duty Dated 21/5/1998

Circular No. 38/98- Customs Duty (21/05/1998)

I am directed to refer to Board's Circular No. 41/97-Cus. dated 19.9.97 (F. No. 473/31/97- L.C.) which was subsequently amended vide Circular No. 72/ 97-Cus. dt. 23.12.97 on the subject cited above and to say that the matter has been reconsidered by the Board and it has been decided to again amend the Circular on the lines as given below...

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Notification No. S. O. 444(E)-Income Tax Dated 21/5/1998

Notification No. S. O. 444(E)-Income Tax (21/05/1998)

Notification No. S. O. 444(E)-Income Tax Shares to be issued M/s. Reliance Patalganga Power Ltd., a public company registered under the Indian Companies Act, 1956, and having its registered office at Shree Ram Mills premises, 3rd Floor, Ganapat Rao Kadam Marg, Worli, Mumbai, within one year from the date of publication of this notificati...

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SEBI : Registration Of Brokers

SMD/DBA-II/Cir-15/98 (21/05/1998)

All Exchanges are therefore required to adhere to the said format and certify that the transferor has paid SEBI turnover fees for all the previous years including that related to transactions of the current year and that there are no fee dues payable to SEBI by the transferor member....

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Circular No. 37/98-Customs Duty Dated 20/5/1998

Circular No. 37/98-Customs Duty (20/05/1998)

A doubt had arisen regarding the relevant exchange rate for determining FOB value of Exports, for the purpose of calculation of DEPB entitlement of an exporter, since the DEPB entitlement is calculated as a percentage of the relevant FOB value...

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Circular No. 36/98- Customs Duty Dated 20/5/1998

Circular No. 36/98- Customs Duty (20/05/1998)

It has come to the notice of the Board that certain Custom Houses had refused to allow drawback and other benefits on export goods which were procured by foreign buyers during their visit to India by making payment in freely convertible foreign currency which was deposited in cash with authorised foreign exchange...

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Policy Circular No. 6 (RE-98) /98-99 , Dated: 20.05.1998

Policy Circular No. 6 (RE-98) /98-99 (20/05/1998)

.Certain instances have been brought to the notice of DGFT wherein some of the exports effected by 100% EOU/ units in the Export Processing Zones are also being counted towards discharge of export obligation under advance licences or wherein DEPB benefits are being claimed. Thus the same exports are also being counted towards benefits und...

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Circular No. 35/98-Customs Duty Dated 19/5/1998

Circular No. 35/98-Customs Duty (19/05/1998)

I am directed to refer to Board's circular No. 27/98-Cus. dated 21-4-98, issued from F.No. 314/19/98- FTT and to say that in para 3, the rate of depreciation for "computers" has been specified. It is clarified that above said norms will also be applicable to "Computer Peripherals". The above said circular may be treated modified to this e...

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Circular No. 34/98-Customs dated 19/5/1998

Circular No. 34/98- Customs Duty (19/05/1998)

In partial modification of Circular No. 25/ 98-Cus. dt. 20.4.98, the guidelines at sub-paras (iii)(a) and (v) of the said Circular shall be substituted as follows...

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Export of Sugar from the free sale quota of the year 1997-98 and 1998-99

Policy Circular No. 5 (RE-98)/98-99 (19/05/1998)

Attention is invited to the entry at Sl. No. 25 of Schedule 2 Appendix 1 of the book titled "ITC(HS) Classifications of Export and Import Items 1997-2002" and the Policy Circular No. 2 (RE-98)/98-99 dated 24.4.98 issued in this regard....

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Circular No. 391/24/98-Central Excise, Dated: 15.05.1998

Circular No. 391/24/98-Central Excise (15/05/1998)

Circular No. 391/24/98-CX The procedural restriction envisaged in sub-rule (2) and 2(A) of rule 224, read with sub-rule (2) of rule 173G of the Central Excise Rule, 1944, regarding removal of excisable goods after 6 P.M. on the day preceding the Budget Day, should be strictly enforced on all assessees, including those working under Self...

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Provisional Shipment under DEPB pending fixation of DEPB rate.

Policy Circular No. 4 (RE-98)/98-99 (15/05/1998)

The matter has been re-examined in view of the fact that the DEPB rate for the formulations is likely to be notified shortly, it has been decided that the export of formulations of bulk drugs namely injection/Intravenous infusion/Syrup /Oral Suspension/ Tablet/ Capsule under DEPB scheme may be allowed provisionally even if no DEPB rate ex...

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Circulars No. 10/97 Cus dated 17.04.97, No. 28/97 Cus dated 30.07.97, No. 5/98 Cus dated 23.01.98 and No. 19/98 Cus dated 20.03.98.

Circular No. 33/98-Customs Duty (13/05/1998)

Please refer to Boards Circular Nos. 10/97-Cus. dated 17.04.97, 28/97-Cus. dated 30.07.97, 5/ 98-Cus. dated 23.01.98 and 19/98 - Cus dated 20.03.98...

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Public Notice No. 13 (RE-98)/1997-2002, Dated: 08.05.1998

Public Notice No. 13 (RE-98)/1997-2002 (08/05/1998)

In respect of cases where Gold/Silver/Platinum has been booked with the nominated agencies but exports have not been effected within prescribed time limit, but have been completed subsequently, in respect of bonafide exporters, such cases may be regularised on payment of penalty equivalent to interest @24% on duty involved in such bookin...

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Circular No. 390/23/98-Central Excise, Dated: 06.05.1998

Circular No. 390/23/98-Central Excise (06/05/1998)

Circular No. 390/23/98-CX W.e.f. April, 1998, the MTR is required to be submitted in the revised proforma, a copy of which is enclosed. It may be noted that the MTR should be signed only by the concerned Commissioner of Central Excise and must be sent regularly and well in time i.e. latest by 10th of the following month. Further, no colu...

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Circular No. 389/22/98-Central Excise, Dated: 05.05.1998

Circular No. 389/22/98-Central Excise (05/05/1998)

Circular No. 389/22/98-CX I am directed to draw your attention to Notification 8/87-CE dated 1.3.97 which exempts the finished products, rejects, wastes or scraps specified in the Schedule to the CEntral Excise Tariff Act, 1985 and produced or manufactured, in a 100% EOU or FTZ wholly from the raw materials produced or manufactured, in ...

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Circular No. 388/21/98-CX Dated 5/5/1998

Circular No. 388/21/98-CX (05/05/1998)

Circular No. 388/21/98-CX I am directed to draw your attention to rule 173MM of the Central Excise Rules, 1944 which permits entry of exported goods which are re-imported and returned to the factory, and the corresponding procedure contained in Para 14 of the Board"s Circular No. 87/87/94-CX dated 26.12.1994, whereby Commissioners is th...

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Notification No. 20/98-Cstoms, Dated: 05.05.2018

Notification No. 20/21998-Customs (05/05/1998)

In exercise of the powers conferred by sub-section (1) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rule 18 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, on the basis of the final findin...

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Circular No. 5/97 Cus dated 14.03.97. Notfns. No.28/97 Cus & No. 29/97 Cus, both dated 01.04.97 and No. 110/95 Cus & No.111/95.

Circular No. 32/98-Customs Duty (05/05/1998)

Attention is invited to the Board's Circular No. 5/97-Cus. dated 14.3.97 outlining the procedure for monitoring the fulfilment of export obligation under EPCG Scheme. Thereafter on 1.4.97, two Notification Nos. 28/97-Cus. and 29/97-Cus. both dated 1.4.97 were issued under EPCG Scheme consequent to announcement of new EXIM Policy for the p...

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Notifications. No.8/98 to No. 10/98, all dated 23.04.98.

Circular No. 31/98-Customs Duty (05/05/1998)

Ministry of Commerce have published a revised Export & Import Policy for the period 1997-2002 on 13.4.98. The changes in the Exim Policy take effect from 13.4.98. As a result the Export Promotion Capital Goods Scheme (EPCG Scheme) and Duty Exemption Scheme in the revised Exim Policy have under gone changes. In order to give effect to the...

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Public Notice No. 12 (RE-98)/97-02, Dated: 05.05.1998

Public Notice No. 12 (RE-98)/97-02 (05/05/1998)

Attention is invited to Ministry of Commerce (Import Trade Control) Public Notice No.74-ITC(PN)/85-88 dated the 21st February, 1986 on the subject mentioned above. It is hereby informed that in pursuance of the relevant provisions contained in the Indo-USSR deferred payments protocol dated the 30th April, 1981 and 23rd December, 1985....

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Public Notice No. 11 (RE-98)/1997-2002, Dated: 05.051998

Public Notice No. 11 (RE-98)/1997-2002 (05/05/1998)

This notification is issued for continuance of deemed export benefits for supplies made to Thermal Power Project of MPEB in the wake of withdrawal of World Bank Loan for this project subject to the terms and conditions mentioned in the foregoing Paragraph and in Appendix XVIII of the Hand-Book of Procedures (March, 1994 edition). ...

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Circular No. 387/20/98-Central Excise, Dated: 01.05.1998

Circular No. 387/20/98-Central Excise (01/05/1998)

Circular No. 387/20/98-CX Under Notification No. 1/95-CE, dated 4.1.95 and Notification No. 126/94-CE, dated 2.9.96 100% Export Oriented Units and Units located in EHTP/STP/ETZ are permitted to remove the goods manufactured, produced, processed and packaged in the unit for the purpose of repair, re-processing etc. without payment of duty...

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Public Notice No. 10 (RE-98)/1997-2002, Dated: 01.05.1998

Public Notice No. 10 (RE-98)/1997-2002 (01/05/1998)

In exercise of powers conferred under paragraph 4.11 of the Export and Import Policy, 1997-2002, as notified in the Gazette of India Extraordinary, Part-II- Section 3 – Sub- section (ii) vide S.O No. 283(E) dated 31.3.97, the Director General of Foreign Trade hereby notifies the credit rates under DEPB scheme in respect of items as give...

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