As per of a revised communication strategy, the Board has reviewed the current system of issuing circulars containing instructions, procedures or clarifications. Consequent to this review, the following decisions have been taken for implementation
Circular No. 466/32/99-CX All instruction / clarifications would be issued by the board only through numbered circulars as hitherto. In case any clarification / instruction having relevance for all field formation is issued to a particular commissioner without being numbered, such cases should be referred back to the concerned section of the Board for issue of a numbered circular.
Circular No. 465/31/99-CX I am directed to say that the trade and industry has represented before the High Powered Committee on Transaction Costs, for certain modifications in the procedures, especially relating to exports which will ultimately ensure reduction in the transaction costs for the exporters.
In case the World Bank loan fails to come through, for any reason, the deemed export benefits would be available as if the supplies have been effected under Paragraph 10.2 of the EXIM Policy. However, in this case the Power Grid Corporation would return the cash equivalent of the deemed export benefits availed by the suppliers for the above stated projects.
In exercise of the powers conferred under paragraph 4.11 of the Export and Import Policy, 1997-2002, the Director General of Foreign Trade hereby makes the following amendments in Schedule 2 of the book titled ” ITC(HS) Classifications of Export and Import Items 1997-2002.
Circular No. 777-Income Tax In view of the unforeseen and unavoidable developments taking place in Kargil and nearby areas, employees of Central Government, State Governments, Public Sector undertakings, Private Sector Companies and Corporations, and local authorities are making donations to the National Defence
In exercise of the powers conferred by paragraph 4.11 of the Export & Import Policy 1997-2002, the Director General of Foreign Trade hereby makes the following amendments in Schedule 2 , Table B of the Book titled ITC(HS) classifications of Export and Import Items 1997-2002.
In order to ensure the quality of audit, it has been decided that in case a company prefers to give audited results instead of unaudited results for the last quarter of the financial year of the company, then the company shall publish/submit the audited results within three months instead of two months from the end of the last quarter of the financial year.
