It has been decided to release a ceiling of 1 million tons of wheat for export and also to allow export of wheat products without any quantitative ceiling during the Current Licensing year of 1999-2000 and place it at the disposal of APEDA who will allocate the ceiling as per procedure laid down by them.
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 amendments made up to 31.3.1999), the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002.
The consignments accompanying a certificate for grade of raw silk of 2 A and above given by any foreign certifying agency, whether specified or not in the Licensing Note 3 above (inserted vide Notification No. 9 dated 19.5.99) may be treated as of grade 2A and above and permitted to be cleared on the strength of the said certificates without any reference to Central Silk Board(CSB).
Notification No.S. O. 410(E) – Income Tax In exercise of the powers conferred by section 295, read with sub-clause (iii) of clause (b) of sub-section (2) of section 80HHB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules futher to amend the Income-tax Rules, 1962, namely
As per our Circular PMD/Cir. 11006/92, dated November 02, 1992, regarding handling of applications accompanied by stock-invests, point no. 8 states that “Registrars shall deposit the stock invest, duly filled in and sorted out “issuer bank branch wise.
“The successful/partially successful applicants’ stock invests would, after encashing, be deposited in the separate bank account, where the cash and other monies received from other investors are deposited.
Notification No. 10948/1999 – Income Tax In exercise of powers conferred by section 295, read with clause (ia) to sub-section (3) of section 80HHB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
“The successful/partially successful applicants’ stock invests would, after encashing, be deposited in the separate bank account, where the cash and other monies received from other investors are deposited.
“The successful/partially successful applicants’ stock invests would, after encashing, be deposited in the separate bank account, where the cash and other monies received from other investors are deposited.”
It is hereby clarified that, the consignments of Mulberry Raw Silk, pending clearance from the Customs, which were accompanied by certificate for grade of raw silk given by any of the notified agencies specified in the Notification No. 9(RE 99) 1997-2002 dated the 19th May, 1999, may be permitted to be cleared on the strength of the said certificates from such notified agencies without further reference to the Central Silk Board(CSB), except in cases where samples had already been drawn and where the C.S.B. had challenged/disputed the gradation of Raw Silk certified by a foreign inspection agency.
