A reference has been received from filed formations that under the provisions of the Customs Act, 1962, a period of 5 years has been provided for issue of Show Cause Notices in cases involving fraud/collusion/wilful mis-statement or suppression of facts. The Circular No. 69/97-Cus. dated 8.12.97 issued by the Board does not purport to restrict the statutory provisions of the Customs Act, wherever
Notification No.S. O. 331(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
Notification No.S. O. 1375 – Income Tax In exercise of the powers conferred in clause (23G) of section 10 of the Income-tax Act, 1961, the Central Government hereby makes the following corrections to the list of enterprise at para 3(iii) of the Notification No. 10836, dated 24-3-1999 read with corrigendum issued vide Notification No. 10881, dated 29-4-1999
Notification No.10902 – Income Tax In exercise of the power conferred in clause (23G) of section 10 of the Income-tax Act, 1961, the Central Government hereby makes the following corrections to the list of enterprise at para 3(iii) of the Notification No. 10836, dated 24th March, 1999 [published at (1999) 152 CTR (St) 225] read with Corrigendum issued vide Notification No. 10881, dated 29th April, 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 high speed diesel oil, falling under heading No. 27.10 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975).
Government updates import restrictions for various stones, allowing Special Import Licences for high CIF values under Notification No. 6 (RE-99) 1997-2002.
Government notice revises DEPB rates and value caps for plastic, chemical, engineering, and food products under the 1997-2002 Export and Import Policy.
Under Section 13(i) of FERA, 1973 no person can bring or send into India any foreign exchange or Indian Currency except with special or general permission of RBI. Further, Import of Indian currency notes or coins by post is not permitted. As per the existing practice, whenever such notes / coins, received by post, are confiscated by the customs authorities, RBI is approached for grant of “no
The Indian Sugar and General Industry Export Import Corporation Ltd., (ISGIEIC) shall be sole agency authorised to export raw sugar to EEC against the preferential Ceiling as indicated above. The export of above quantity of raw sugar to EEC under the preferential arrangements as indicated above shall also be subject to prescribed pre-shipment certificate by Export Inspection Council.
Attention is invited to paragraph 5 of Policy circular no.28(RE-98) dated 28.7.98 regarding exemption from pre-shipment inspection from Central Silk board in respect of export of silk garments under DEPB scheme. Consequent upon notification of DEPB rate for Silk madeups and Silk fabrics, it is clarified that pre-shipment inspection by Central Silk Board is not required for exports of silk madeups and Silk fabrics under DEPB scheme.
