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Archive: July, 2000

Posts in July, 2000

Circular No. 62/2000-Custom Duty Dated 14.7.2000

July 14, 2000 289 Views 0 comment Print

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

SEBI : President/Executive Director/ Managing Director of all Stock Exchanges

July 14, 2000 250 Views 0 comment Print

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.

Importability of cars , microbuses etc. by travel agents , tour operators or tourist transport operators under 5% EPCG Scheme

July 14, 2000 268 Views 0 comment Print

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 No. 23(RE-2000) 1997-2002, Dated: 14.07.2000

July 14, 2000 235 Views 0 comment Print

In exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 1.3 and 4.1 of the Export and Import Policy, 1997-2002, the Central Government hereby allows import of Postage Stamps, unused, Exim Code No. 991100 00, freely, to all foreign participants who have booked Special Booths for sale of Philatelic Stamps and accessories in the International Philatelic Exhibition, Indepex Asiana 2000 to be organized by Deptt.

Cargo – Movement of imported cargo by containers / trucks from Airports / ACCS to ICDs/CFSs/Airports/ACCS

July 13, 2000 313 Views 0 comment Print

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

Policy Circular No. 16 (RE-00)/2000-2001, Dated: 13.07.2000

July 13, 2000 181 Views 0 comment Print

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. 1692/2000-Income Tax Dated 13/7/2000

July 13, 2000 370 Views 0 comment Print

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 Dated 13/7/2000

July 13, 2000 349 Views 0 comment Print

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. 1755/2000-Income Tax Dated 13/7/2000

July 13, 2000 247 Views 0 comment Print

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.

Customs Duty on share certificates imported for sale or dematerialisation

July 12, 2000 1444 Views 0 comment Print

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

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