"November, 1998" Archive

Notification No. S. O. 1014(E)-Income Tax Dated 27/11/1998

Notification No. S. O. 1014(E)-Income Tax (27/11/1998)

Notification No. S. O. 1014(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 specifies : (i) the 5 years 13.25% ICICI Regular Income Bonds-I bearing distinctive numbers 1 to 74061 of the face value of rupees five thous...

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Notification No. S. O. 1015(E)-Income Tax Dated 27/11/1998

Notification No. S. O. 1015(E)-Income Tax (27/11/1998)

Notification No. S. O. 1015(E)-Income Tax In exercise of the powers conferred by sub-clause (ii) of clause (10AA) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of the period of earned leave at the...

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This notification imposes anti dumping duty on Hot Roll coils, Strips, sheet and plates originating in or exported from Russia, Kazakhstan and Ukraine

Notification No. 100/1998-Customs (27/11/1998)

In the matter of import of hot rolled coils, strips, sheets and plates falling under Chapter heading No. 72.08 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and originating in, or exported from, Russia, Kazakhstan and Ukraine, the designated authority vide its preliminary findings, published in Part I, section 1 of th...

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This notification imposes anti dumping duty on polystyrene originating in or exported from Malaysia, Republic of Korea, Taiwan and Japan

Notification No. 88/1998-Customs (17/11/1998)

On the basis of the aforesaid findings of the Designated Authority, the Central Government has imposed anti-dumping duty vide Notification No. 43/98-Customs, dated the 30th June, 1998 [G.S.R. 371(E), dated 30th June, 1998], published in Part II, section 3, sub-section (i) of the Gazette of India Extraordinary, dated the 30th June, 1998 (h...

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Circular No. 433/66/98-Central Excise, Dated: 27.11.1998

Circular No. 433/66/98-Central Excise (27/11/1998)

Circular No. 433/66/98-CX I am directed to say that certain doubts have arisen regarding the classification of fusible interlining cloth after the omission of Chapter Note 2(c) of Chapter 59 of the Central Excise Tariff with effect from 16.3.95. Specifically, doubts have been raised as to whether fusible interlining cloth continues to be...

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Notification No. S. O. 2682-Income Tax Dated 26/11/1998

Notification No. S. O. 2682-Income Tax (26/11/1998)

Notification No. S. O. 2682-Income Tax Consequent to the transfer of the charge of Commissioner of Income-tax (Appeals)-VII, Calcutta, from the region of the Chief Commissioner of Income-tax, Calcutta to Hazaribagh, vide Board's letter F. No. A-11018/13/98-Ad. VII, dated 1st September, 1998, the said charge stands abolished with immediate...

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Notification No. 33 (RE-98) 1997-2002, Dated: 26.11.1998

Notification No. 33 (RE-98) 1997-2002 (26/11/1998)

Such Export House/Trading House/ Star Trading House/ Super Star Trading House shall be entitled to such benefits as specified in Chapter 12 of the Handbook of Procedures (Vol.1). However, the entitlement of SIL under Chapter 12 shall be calculated on the basis of payments received in free foreign exchange instead of FOB value of exports. ...

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Notification No. 33 (RE-98) 1997-2002 Dated: 26/11/1998

Notification No. 33 (RE-98) 1997-2002 (26/11/1998)

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-II, SECTION-3, SUB SECTION (ii) GOVERNMENT OF INDIA MINISTRY OF COMMERCE NOTIFICATION NO. 33 (RE-98) 1997-2002 NEW DELHI: 26.11.1998 In exercise of powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of...

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Circular No. 432/65/98-Central Excise-3 Dated: 23.11.1998

Circular No. 432/65/98-Central Excise-3 (23/11/1998)

Circular No. 432/65/98-CX-3 I am directed to say that it has been gathered that some color television (TV) manufacturers have adopted the practice of making the Retail Sale Price (RSP) on the colour TV packages at an amount which is lower than the amount actually collected or payable by the ultimate consumer. It has been reported that th...

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SEBI : Reporting of transactions by registered Foreign Institutional Investors (FII).

Circular No. FITTC/CUST/3/1998 (20/11/1998)

When the MPR is not matching with SEBI’s data, SEBI would be sending the transaction records, which are not matching, to the custodians for reconciliation. The custodian would thereafter send the records, which are amended, deleted or not reported earlier, in a separate file along with a hard copy of the same by the fifteenth of the cur...

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Circular No. 431/64/98-Central Excise, Dated: 19.11.1998

Circular No. 431/64/98-Central Excise (19/11/1998)

Circular No. 431/64/98-CX I am directed to state tat representations have been received from the trade, regarding the scope of exemption available to precious, metals and articles of precious metals such as ingots, bars, crucibles, foils, dishes, wires, wire gauges etc. under Sl. No. 193 or 194 of Notification No. 05/98-C.E. dated 2.6.98...

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SEBI : Interest on delayed/non/short payment of fees by brokers

SMD/DBA-II/Cir-34/98 (19/11/1998)

Those brokers who fail to pay fees referred to in clauses (a),(b) & (c) of Regulation 10( Schedule III) of SEBI (Stock Brokers & Sub-Brokers) Rules & Regulations 1992, as on the first day of October of the financial year to which such payment relates or pay short, ...

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Policy Circular No. 52 (RE-98)/98-99, Dated: 18.11.1998

Policy Circular No. 52 (RE-98)/98-99 (18/11/1998)

The matter has been examined and it has been decided to finalise the cases for grant of credit under Passbook Scheme by 31.12.98. The Designated Authority and the Commissioner of Customs are once again advised to finalise all admissible cases positively by 31.12.98....

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EOUs- Misuse of CT3 facility – AR3A and rewarehousing certificate to be sent by post and not by hand

Circular No. 87/98- Custom Duty (18/11/1998)

The Dte. General of Anti-evasion have unearthed duty evasion of over Rs. 50 crores by certain EOUs. The Modus Operandi used by the EOUs was as under...

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Classification of Handbags and silk garments under DEPB

Policy Circular No. 51 (RE-98)/98-99 (17/11/1998)

Representations have been received that some of the licensing and Customs authorities are not covering handbags under madeups.The issue has been examined and it is clarified that handbags shall be covered under "Madeups" and they may be classified in relevant serial number of the DEPB rate list for product group "Textile" depending upon t...

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EPZ Units – Sftware transfer in DTA through data communication permitted

Circular No. 86/98-Custom Duty (17/11/1998)

I am directed to refer to Board's Circular No. 54/98-Cus., dated 21.7.98 issued from F.No. 305/210/ 97-FTT on the subject mentioned above clarifying that 100% EOUs working under Notification No. 53/73- Cus. dated 3.6.97 can sell their software through data communication link or tele-communication link as there is no such restriction on s...

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Circular No. 430/63/98-Central Excise, Dated: 16.11.1998

Circular No. 430/63/98-Central Excise (16/11/1998)

Circular No. 430/63/98-CX I am directed to say that doubts have arisen whether the excisable goods cleared in bond under Rule 13 of the Central Excise Rules, 1944, from a factory or any approved premise, can be stored and transshipped at any other place and if so, whether such transshipment should be done in the presence of Central Excis...

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SEBI (Buy Back of Securities) Regulations, 1998- Updated till 31.03.2008

Notification No. S.O.No 975 (E) (14/11/1998)

These regulations shall be called the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998. These regulations shall come into force on the date of their publication in the Official Gazette....

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Notification No. S. O. 971(E)-Income Tax Dated 13/11/1998

Notification No. S. O. 971(E)-Income Tax (13/11/1998)

Notification No. S. O. 971(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), and in supersession of the Notification S.O. 6(E), dated 5th January, 1998, published in the Gazette of India (Extraordinary) on the 5th January, 1998, the Central Board of Direct Taxes...

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Notification No. S. O. 972(E)-Income Tax Dated 13/11/1998

Notification No. S. O. 972(E)-Income Tax (13/11/1998)

Notification No. S. O. 972(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), and in supersession of the Notification S.O. 7(E), dated 5th January, 1998, published in the Gazette of India (Extraordinary) on the 5th January, 1998, the Central Board of Direct Taxes ...

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Notification No. 32 (RE-98)1997-02, Dated: 13.11.1998

Notification No. 32 (RE-98)1997-02 (13/11/1998)

In exercise of the powers conferred by section 5 of the Foreign Trade (Development and Regulation ) Act, 1992 (No. 22 of 1992) read with paragraphs 1.3 and 4.1 of Export and Import Policy, 1997-2002 the Central Government hereby makes the following amendments in Export And Import Policy, 1997-2002 (incorporating amendment made upto 13.4....

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Export/ Import through Courier- Assessment of goods

Circular No. 85/98-Custom Duty (13/11/1998)

I am directed to refer to the Courier Imports and Export (Clearance) Regulations, 1998 dated 9th November, 1998 issued by Government of India vide Notification No. 87/98-Cus. (N.T.) dated 9th November, 1998. The new regulations cover assessment and clearance of goods imported or to be exported through courier mode...

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Amendment in Para 5.3(b) of H.B. Vol. I, 1997-2002

Public Notice No. 56 (RE-98)/97-02 (13/11/1998)

In exercise of powers conferred under Paragraph 4.11 of the Export and Import Policy, 1997-2002, the Director General of Foreign Trade hereby makes following amendment in Chapter 5 of the Handbook of Procedures, 1997-2002, Vol. 1 ( incorporating amendments made upto l3th April, 1998)....

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Notification No. 31 (RE-98)1997-2002, Dated:12.11.1998

Notification No. 31 (RE-98)1997-2002 (12/11/1998)

In exercise of powers conferred by Section 5 of the Foreign Trade ( Development & Regulation ) Act, 1992 ( No. 22 of 1992 ) read with Paragraph 1.3 of Export and Import Policy 1997-2002 ( incorporating amendments made upto 13.4.98 ) the Central Government hereby makes the following amendment in the Export and Import Policy 1997-2002 ( inc...

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SEBI : Decisions taken in the Meeting of Executive Committee of the IECG held on October 15, 1998

SMDRP/Policy/Cir-33/98 (12/11/1998)

The bank guarantee should be for a minimum period of three years and it should contain a clause which would enable any claim arising during the period of guarantee could be preferred within a period of six months from the expiry of the guarantee....

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Export of Coarse-grain during the licensing year 1998-99

Policy Circular No. 50 (RE-98)/98-99 (11/11/1998)

Attention is also invited to Policy Circular No. 25(RE-98)/98-99 , dt. 24.7.98 and also to Policy Circular No. 43 dt. 13.10.98 releasing a ceiling of one lakh MT of Coarse-grains inclusive of 25,000 MT of the export ceiling of Coarse grain already released. The bifurcation of the balance ceiling of 75,000 MT shall be as 18,750 MT for PSUs...

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Public Notice No. 55 (RE-98)/1997-2002 Dated: 11.11.1998

Public Notice No. 55 (RE-98)/1997-2002 (11/11/1998)

The DEPB rate for export product as given in Appendix 28A at S.No. 3 of Fish & Fish products may be amended to read as 10%. The enhancement in the above DEPB rate shall be effective from 15.4.98 and shall cover exports of such products made on or after 15.4.98....

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Notification No. 30 (RE-98)1997-02, Dated: 10.11.1998

Notification No. 30 (RE-98)1997-02 (10/11/1998)

In exercise of the powers conferred by section 5 of the Foreign Trade (Development and Regulation ) Act, 1992 (No. 22 of 1992) read with paragraph 4.1 of Export and Import Policy, 1997-2002 the Central Government hereby makes the following amendment under Chapter 87 of the ITC(HS) Classifications of Export and Import Items 1997-2002(RE-9...

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Re-export of diamonds from private bonded warehouse

Circular No. 84/98- Custom Duty (10/11/1998)

It has been reported by the Commissioner of Customs, Ahmedabad that Private Bonded Warehouses (PBW) areset up under Para 9.21 of the Exim Policy as per the permission given by the concerned Development Commissioner and the Board of Approval. The PBW was allowed to import rough diamonds and sale it in the DTA against the REP Licences, NAW,...

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Public Notice No. 54 (RE-98)/97-02, Dated: 10.11.1998

Public Notice No. 54 (RE-98)/97-02 (10/11/1998)

Indian Rupee Value of the special currency Basket for the purposes of deferred payments contracts entered into under the Deferred payments protocol dated the 30th April, 1981 for the period l.l.81 to 31.12.85 and the Deferred payments protocol dated 23rd December, 1985....

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SEBI : Trading and settlement of trades in dematerialised securities

SMDRP/POLICY/CIR-32/98 (09/11/1998)

Further, effective from January 4, 1999, any investor who would have a net delivery obligation of 5000 shares or more in any of the 24 scrips as per Annexure ‘D’, could only do so in dematerialised form....

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Amendments in the H.B. Vol. I, 1997-2002

Public Notice No. 53 (RE-98)/1997-2002 (06/11/1998)

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 makes following amendment in the Handbook of Procedures (Vol.1) (RE-98)...

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Notification No. S. O. 950(E)-Income Tax Dated 5/11/1998

Notification No. S. O. 950(E)-Income Tax (05/11/1998)

Notification No. S. O. 950(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 specifies : (i) the IDBI Super Deposit Bonds bearing distinctive numbers 1 to 7907884 of the face value of rupees five thousand each;...

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Marine freight containers clearance and re-export

Circular No. 83/98-Custom Duty (05/11/1998)

M/s Indian Freight Container Manufacturers Association has represented to Government of India that a huge dumping of empty containers into the system is affecting the off take of containers manufactured in the country because of lack of monitoring of the requirement to re-export the imported Containers within six months. Moreover, extinct...

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This notification provides effective rate of duty on specified goods imported from Nepal

Notification No. 85/1998-Customs (05/11/1998)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and in supersession of the Notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 3/97-Cus., dated the 16th January, 1997, the Central Government, being satisfied that it is necessary in th...

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Amendments/Corrections and additions for SION

Public Notice No. 52 (RE-98)/1997-2002 (05/11/1998)

Attention is invited to Paragraph 7.8 of the Export and Import Policy 1997-2002, as amended and Paragraphs 7.8, 7.9 and 7.10 of the Handbook of Procedures, Vol.1, 1997-2002, as amended and also to the Handbook of Procedures, Vol.2, 1997-2002 as amended from time to time....

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Circular No. 771-Income Tax Dated 3-11-1998

Circular No. 771-Income Tax (03/11/1998)

Circular No. 771-Income Tax Reference is invited to Circular No. 757, dated 20th October, 1997, wherein the rates of deduction of income-tax from the payment of income under the head "Salaries" under section 192 of the Income-tax Act, 1961, during the financial year 1997-98, were intimated. ...

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Notification No. 29 (RE-98)1997-2002, Dated: 03.11.1998

Notification No. 29 (RE-98)1997-2002 (03/11/1998)

In exercise of powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002 (incorporating amendment made upto 13.4.98), the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002: (inco...

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Circular No. 429/62/98-Central Excise, Dated: 03.11.1998

Circular No. 429/62/98-Central Excise (03/11/1998)

Circular No. 429/62/98-CX It has been brought to the notice of the Central Board of Excise & Customs that field formations are denying Modvat Credit under rule 57A of the Central Excise Rules, 1944 on lubricating base oils, when used as inputs in factory for further manufacture of final product during the period 01.03.1997 to 31.08.1997....

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SEBI : Availing of concessional rate of fees on jobbing transactions based on Expert Committee Recommendations

SMD/DBA-II/Cir-31/98 (03/11/1998)

The Expert Committee appointed by SEBI on the issue of turnover based fees of brokers had recommended that with respect to jobbing transactions identified and included in the turnover as proposed in the said report, concessional rate of fee of one two hundredth of one percent of the jobbing turnover calculated is to be computed....

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Agencies authorised to issue Bank Certificate of Export and Realisation-Appendix 25 of Handbook of Procedures, 1997-2002

Policy Circular No. 49 (RE-98)/98-99 (02/11/1998)

Representations have been received from various firms' seeking clarification whether agencies / financial institutions in the business of export factoring, who have already been issued A.D. Codes by the Reserve Bank of India, can also issue Bank Certificate of Export & Realisation....

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Circular No. 428/61/98-Central Excise. Dated: 02.11.1998

Circular No. 428/61/98-Central Excise (02/11/1998)

Circular No. 428/61/98-CX I am directed to say that the Board has received representations from exporters that rebate under Rule 12 of the Central Excise Rules 1944 are not being granted where the goods initially cleared on payment of duty for home-consumption were diverted for export following the procedure contained in Board"s Circular...

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