Various representations have been received in the Board that Customs House are not granting All Industry Rates of Drawback equivalent to Central Excise duty portion on resultant product exported under DFRC Scheme for want of DFRC licence
The SEBI has reconvened the Committee under the Chairmanship of Prof. J. R. Varma, Member SEBI Board to review the existing Modified Carry Forward System and to examine the introduction of Carry Forward System under Rolling Settlement.
Regarding the erstwhile zero duty EPCG Scheme, it is clarified that , no enhancement in the CIF value of the licence shall be considered by the Licencing Authorities In respect of licences issued under the scheme. Any change in the import items , incorporation of new item , deletion of any old item etc. may , however, be allowed in respect of zero duty EPCG licences , provided the CIF value of such licences is not exceeded.
Notification allows import of unused postage stamps for participants of Indepex Asiana 2000, with required permission from the Department of Post.
I am directed to refer to the Circular No. 69/99-cus., dated the 6th October, 1999 [See 1999 (113) E.L.T. T50] on above mentioned subject. In the said Circular a procedure has been prescribed for movement of imported cargo in containers/trucks from Airports/CCCs to ICDs/CFSs/Airports/ACCs. In this connection, references have been received from trade and the Ministry of
Some representations have been received from exporters wherein they have claimed that the Customs are interpreting the value caps as imposed on Bulk Drugs, to be applicable on the chemical formulations consisting of such bulk drugs. In this connection it is clarified that the value caps, as imposed on bulk drugs, shall not be applicable to chemical formulations consisting of such bulk drugs.
Notification No. 1692-Income Tax In exercise of the powers conferred by Explanation C(i) of section 10(23G) and Explanation (a) to sub-section (4)(i) of section 80-IA of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby notifies Multilevel Computerised Car Parking as infrastructure facility.
Notification No. 1693/2000-Income Tax It is notified for general information that Grahsaukhya Housing Development Finance Limited, 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 1996-97, 1997-98, 1998-99 and 1999-2000.
Notification No. 1755-Income Tax It is notified for general information that the enterprises/industrial undertakings, listed at para (3) below have 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 1999-2000, 2000-2001 and 2001-2002.
I am directed to refer to the subject mentioned above and to say that a representation has been received from the Stock Exchange, Mumbai stating that the Customs authorities are insisting on payment of Customs duty when shares held by NRIs abroad are re-imported for sale or dematerialization. It has been stated that presently the NRIs are allowed to invest in India shares and hold
