"February, 1999" Archive

Notification No. 5/99-Service Tax, Dated: 28.02.1999

Notification No. 5/99-Service Tax (28/02/1999)

In exercise of the powers conferred by section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby rescinds the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in Column (2) of the Table hereto ...

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Notification No. 4/99-Service Tax, Dated: 28.02.1999

Notification No. 4/99-Service Tax (28/02/1999)

In exercise of the powers conferred by section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service provided to any person by a consulting engineer in relation to computer software, from the whole of the service tax leviab...

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Notification No. 3/99-Service Tax, Dated: 28.02.1999

Notification No. 3/99-Service Tax (28/02/1999)

In exercise of the powers conferred by section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services provided to any person by a rent-a-cab scheme operator in relation to renting of cabs, from the whole of the service tax ...

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Notification No. 2/99-Service Tax, Dated: 28.02.1999

Notification No. 2/99-Service Tax (28/02/1999)

In exercise of the powers conferred by section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services specified in sub-section (48) of section 65 of the said Act, provided to any person in respect of which payment is made i...

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Notification No. 1/99-Service Tax, Dated: 28.02.1999

Notification No. 1/99-Service Tax (28/02/1999)

Where an assessee is providing taxable service from more than one premises or office and has a centralised accounting system in respect of such service rendered to clients from each such premises or office at any one premises or office, the Commissioner of Central Excise may permit such assessee to registering only the premises or office ...

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This notification exempts specified goods imported by a manufacturer of linear alkyl benzene for extraction of N-Paraffin

Notification No. 26/1999-Customs (28/02/1999)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), read with sub-section (1) of section 3A of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the description specifie...

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This notification exempts specified goods imported for use in electronic industry

Notification No. 25/1999-Customs (28/02/1999)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in column (3) of Table below, and falling under the Chapters of the First Schedule to the Customs Ta...

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Clarification regarding exportability of onions

Policy Circular No. 69 (RE-98)/98-99 (26/02/1999)

In this connection it is clarified that overall ban on export of onion still continues despite the partial lifting of ban on export of Bangalore Rose onion, Krishnapuram onion and export of 3000MTs of all varieties of onion to Sri Lanka through NAFED as also permission to export of 25,000 MTs per month of onions for the next three months ...

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Clarification regarding exportability of Onion as a part of assorted vegetable

Policy Circular No. 68 (RE-98)/98-99 (23/02/1999)

It is therefore, clarified that as per S.No. 16 of Schedule 2 Appendix 1 of the book titled " ITC(HS) Classifications of Export and Import Items, 1997-2002, " export of onion as a part of assorted vegetables is allowed freely upto twenty kg. only per consignment by air to all permissible destinations subject to any other law for the time ...

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Circular No. 441/7/99-Central Excise, Dated: 23.02.1999

Circular No. 441/7/99-Central Excise (23/02/1999)

Circular No. 441/7/99-CX I am directed to refer to Notification No. 7/99-CE(NT) dated 9/2/1999 issued to amend Modvat Rules. The aforesaid notification has been issued to insert sub-rule (11) in Rule 57G and sub-rule(13) in Rule 57T of the Central Excise Rules, 1944 so as to empower the Assistant commissioner of Central Excise having jur...

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Issue of Advance Licences for import of Natural Rubber

SALC Circular No. 8/98-99 (20/02/1999)

It has been decided that holders of Advance licences with natural rubber as one of the inputs shall procure their requirement of natural rubber from STC only. Accordingly all the licensing authorities are advised that henceforth while issuing any advance license, as per policy, with natural rubber as one of the import item, they shall fir...

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Notification No. S.O.589 – Income Tax Dated 18/2/1999

Notification No. S.O.589 - Income Tax (18/02/1999)

Notification No.S. O. 589 - Income Tax In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Sri Nandaneshwara Temple, New Mangalore, Karnataka, to be a place of public worship of renown throughout the State of Karnataka for th...

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Clearance of goods imported by United Nations and its Agencies for execution of the projects financed by them – regarding

Circular No. 5/99-Custom Duty IV (18/02/1999)

I am directed to refer to Notification No. 84/97-Cus dated 11th November, 1997 which exempts goods impored into India by the United Nations or an International Organisation for execution of the projects financed by these agencies from the duty of customs, Additional Customs Duty and special custom duty. Some difficulties have been express...

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Indian Customs EDI Systems – measures to check frauds in disbursement of drawback – Regarding.

Circular No. 6/99-Custom Duty (17/02/1999)

Reference as well as representations have been received in the Board regarding admissibility of made ups made out of yarn dyed fabrics for DEPB credit...

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Clarification on the erstwhile Pass Book Scheme issued under Exim Policy, 1992-97.Regarding last date for grant of credit and utilization of credit

Policy Circular No. 66 (RE-98)/98-99 (17/02/1999)

The matter has been examined in the light of Notification No. 12/99-CUSTOMS dated 1.2.1999 issued by Department of Revenue. It has now been decided that the Designated Authorities of Pass Book Scheme and Commissioner of Customs must finalize the claims and grant credits, wherever admissible, positively by 31.3.1999. The credits granted un...

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Notification No. S.O.114(E) – Income Tax Dated 16/2/1999

Notification No. S.O.114(E) - Income Tax (16/02/1999)

Notification No.S. O. 114(E) - Income Tax In exercise of the powers conferred by sub-clause (viii) of clause (10C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Indian Institute of Foreign Trade, New Delhi, registered under the Societies Registration Act, 1860 (21 of 1860), as an Insti...

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Notification No. S.O.110(E) – Income Tax Dated 15/2/1999

Notification No. S.O.110(E) - Income Tax (15/02/1999)

Notification No.S. O. 110(E) - Income Tax In exercise of the powers conferred by sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the West Bengal Industrial Development Corporation Limited, Calcutta, for the purposes of the said sub-clause...

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Issuance of Show Cause Notice by the Officers of Directorate of Revenue Intelligence – regarding

Circular No. 4/99-Custom Duty (15/02/1999)

A doubt has been recently raised as to whether the Officers of Directorate of Revenue Intelligence could issue show cause notices in cases investigated by them - a practice started last year apparently in tune with the practice of the Directorate General of Anti Evasion. The matter has been examined in the Board...

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Circular No. 773-Income Tax Dated 15-2-1999

Circular No. 773-Income Tax (15/02/1999)

Circular No. 773-Income Tax At present, the payee is required to put his signature in the space provided for "Claimants signature" on the reverse of the refund order. The responsibility of the collecting bank in dealing with "account payee" instruments is well-defined under the Negotiable Instruments Act. No specific purpose is served by...

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SEBI : Guidelines for Disclosure and Investor Protection Clarification No. XXIII

SEBI (DIP) Series Circular No. 2 (98-99) (12/02/1999)

SEBI has issued clarifications to the Guidelines for Disclosure and Investor Protection in the recent past in order to strengthen the disclosure norms and bring out the reforms in the Primary Market...

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SEBI : Guidelines for Disclosure and Investor Protection Clarification No. XXIII

Circular No. 2 (98-99) (12/02/1999)

In view of the strategic importance of infrastructure projects, the Board has also decided to grant specific relaxations for Public Issues by infrastructure companies. These relaxations are being provided under part C of this clarification....

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SEBI : all Registered Custodians of Securities

Circular No. FITTC/CUST/5/1999 (12/02/1999)

All custodians are advised to ensure compliance with the instructions contained herein above. Non-compliance would be viewed seriously and may result in disciplinary action against the custodian....

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SEBI : Clarifications regarding investment by Foreign Institutional Investors

Circular No. FITTC/CUST/4/1999 (12/02/1999)

As per the SEBI (Foreign Institutional Investors) Regulations, 1995 Amendment dated May 18, 1998, the Foreign Institutional Investors (FIIs) are permitted to invest in Treasury Bills. This avenue of investment is available to FIIs investing through 100% debt route as well as to FIIs investing through the equity route where upto 30 % inves...

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Notification No. S.O.525 – Income Tax Dated 11/2/1999

Notification No. S.O.525 - Income Tax (11/02/1999)

Notification No.S. O. 525 - Income Tax It is notified for general information that enterprise, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 1998-99, 1999-2000 and 2000-2001...

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Notification No. S.O.524 – Income Tax Dated 11/2/1999

Notification No. S.O.524 - Income Tax (11/02/1999)

Notification No.S. O. 524 - Income Tax It is notified for general information that enterprise, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 1998-99, 1999-2000 and 2000-2001...

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Notification No. 523/1999 – Income Tax Dated 11/2/1999

Notification No. 523/1999 - Income Tax (11/02/1999)

Notification No.523 - Income Tax It is notified for general information that "Home Trust Housing Finance Company Ltd., Calcutta", has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002. ...

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Circular No. 440/06/99-Central Excise, Dated: 11.02.1999

Circular No. 440/06/99-Central Excise (11/02/1999)

Circular No. 440/06/99-CX I am directed to say that the Annual Budget of the Central Government for the Financial Year 1999-2000 is likely to be presented to Parliament on the 27th February, 1999 at 11 AM. Notification No. 8/99-Central Excise (NT) dated 10th February has been issued to amend rule 100G and rule 224 of the Central Excise R...

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This notification exempts second hand computers and computer peripherals when received as a donation by specified schools

Notification No. 18/1999-Customs (11/02/1999)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act/1962 (52 of 1962), read with sub-section (4) of section 68 of the Finance (No. 2) Act, 1996 (33 of 1996), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts second-hand computers and computer...

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Denomination of Special Import Licences

Policy Circular No. 64 (RE-98)/97-02 (10/02/1999)

Where the applicant of Special Import Licence has given any option for currency in which value on the licence is to be indicated, value of licence is to be indicated in such currency as opted by the applicant. However, in cases where no option has been given by the applicant of Special Import Licence, value of licence is to be indicated i...

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SEBI : Guidelines for Participation by Mutual Funds in Stock Lending Scheme

MFD/CIR/01/047/99 (10/02/1999)

The securities lending contract to be entered into by the mutual fund shall carry specifications with regard to the collateral security and its valuation so as to minimize the risk involved,...

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Officers empowered to search, seize, arrest, etc.

Notification No. 9/1999-Central Excise (N.T.) (10/02/1999)

Notification under Sections 13, 14, 19, 21, 28 and Excise Rules 201, 202 - In exercise of the powers conferred under the provisions of the Central Excise Act, 1944 (1 of 1944) and the Central Excise Rules, 1944 specified under column (2) of the Table below and in supersession of notification of the Government of India in the Ministry of ...

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This notification imposes anti dumping duty on Potassium Permanganate originating in or exported from People”s Republic of China

Notification No.16/1999-Customs (09/02/1999)

In the matter of import of Potassium Permanganate falling under Chapter 28 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in or exported from the Peoples Republic of China, the Designated Authority vide its final findings, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 8th A...

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Circular No. 439/5/99-Central Excise, Dated: 08.02.1999

Circular No. 439/5/99-Central Excise (08/02/1999)

Circular No. 439/5/99-CX I am directed to say that it has come to the notice of the Board that doubt still persists in the classification of the "soft drink concentrate". However, it is felt that after the introduction of a specific entry at sub-heading 2108.10 as preparation of lemonades or other beverages intended for use in the manufa...

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Public Notice No. 70 (RE-98)/1997-2002, Dated: 05.02.1999

Public Notice No. 70 (RE-98)/1997-2002 (05/02/1999)

Food-stuffs, medicines, clothing and blankets received by any charitable organisation, registered with Ministry of Welfare and Ministry of Home Affairs under Foreign Contribution Regulation Act, as a gift from any philanthropic organisation or person abroad, for free distribution either by itself or other charitable organisations to the p...

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Public Notice No. 69 (RE-98)/1997-2002, Dated: 05.02.1999

Public Notice No. 69 (RE-98)/1997-2002 (05/02/1999)

Export allowed subject to the condition that exporter shall notify the National Authority, Chemical Weapons Convention, Cabinet Secretariat, Ministry of External Affairs ( D&ISA ), Department of Chemicals and Petrochemicals and the Directorate General of Foreign Trade of such exports in prescribed format ( Appendix 18 B, as reproduced in ...

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Circular No. 438/4/99-Central Excise, Dated: 05.02.1999

Circular No. 438/4/99-Central Excise (05/02/1999)

Circular No. 438/4/99-CX The Central Board of Excise and Customs had issued instructions on the above subject vide Circular No. 80/88/94-CX.8 dated 21.11.94. Para 4.2 of the said circular provides that Chief Account Officer (CAO) shall complete checking of credit entries in PLAs from the original treasury documents (Original copy of TR-6...

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SEBI : Trading and settlement of trades in dematerialised securities

SMDRP/POLICY/CIR-03 /99 (04/02/1999)

It has now been decided to add four more scrips namely; Zee Telefilms, Satyam Computers, Pentafour Software and LIC Housing Finance to the list of scrips....

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Availment of Drawback simultaneously with DEPB- Further Clarification

Circular No. 3/99-Custom Duty (03/02/1999)

It has been referred by certain Commissioners of Central Excise that certain exporters desire to avail of drawback simultaneously with DEPB Scheme...

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Public Notice No. 68 (RE-98)/1997-2002, Dated: 03.02.1999

Public Notice No. 68 (RE-98)/1997-2002 (03/02/1999)

In exercise of the powers conferred under Paragraph 4.11 of the Export & Import Policy,1997-2002,the Director General of Foreign Trade hereby makes the following amendments in Schedule 2 Appendix 1 Of the book titled "ITC(HS) Classification of Export and Import Items 1997-2002....

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Notification No. S.O.418 – Income Tax Dated 2/2/1999

Notification No. S.O.418 - Income Tax (02/02/1999)

Notification No.S. O. 418 - Income Tax In exercise of the powers conferred by clause (23G) of section 10 of the Income-tax Act, 1961, the Central Government hereby makes the following corrections to the Notification No. 10775, dated 28th January, 1999, may be made...

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Notification No. 40 (RE-98)1997-2002, Dated: 02.02.1999

Notification No. 40 (RE-98) 1997-2002 (02/02/1999)

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 has decided to withdraw the above stated Notifications and Public Notices with effect from the date of their issuance....

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Notification No. S.O.48(E) – Income Tax Dated 1/2/1999

Notification No. S.O.48(E) - Income Tax (01/02/1999)

Notification No.S. O. 48(E) - Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance S. O. 548(E), dated 9th July, 19...

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