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;
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, extinction beyond six months is granted by customs
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 the public interest so to do, hereby exempts goods of the description specified in the Annexure below (hereinafter referred to as the specified goods) upto the value of clearances specified in column (2) of the Table below, (hereinafter referred to as the said Table) from so much of the duty of customs leviable under section 3 of the Customs Tariff Act, 1975.
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.
