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G.S.R. (E). – In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the Central Excise Rules, 1944
Please refer to our earlier circular no. SMDRP/Policy/cir-23/2000 dated May 29, 2000 advising inter alia the list of companies for compulsory settlement of trades in dematerialised form for all investors.
F.No. 345/7/2000-TRU It is directed to draw your attention to the recent amendments made in the Central Excise Rules, 1944 allowing the assessees to discharge their duty liability on fortnightly basis. Representations have been received in this regard, whereby some of the assessees have expressed their desire to continue to pay the excise duty on consignment basis.
For the purposes of this notification, “rate of exchange” applicable for the purposes of calculation of the anti-dumping duty shall be the rate which is specified in the notification of the Government of India in the Ministry of Finance (Department of Revenue), issued from time to time in exercise of the powers under sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) and the relevant date for the determination of the “rate of exchange” shall be the date of presentation of the “bill of entry” under section 46 of the said Customs Act.
The Circulars mentioned in the preceding paragraph were issued in regard to clearance of goods stored in a custom bonded warehouse by adjusting custom”s duty in a DEPB scrip. Representations have been received for further extention of the said facility in view of extension of the said facility in view of extension of DEPB Scheme to customs stations notified under DEPB scheme vide
