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Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down intricacies of Section 43B(h)
As intimated vide the above referred Circulars, there is no need of seeking EPCG Committee’s approval for nexus in respect of the capital goods meant for Hotel, Textile and Garment Sector and other sectors. It is therefore suggested that such cases may not be forwarded to this office for nexus clearance.
In an attempt to speed up the transactions and to bring about transparency in various activities related to exports, electronic data interchange would be encouraged. Applications received electronically from the status holders and green card holders shall be cleared within 24 hours.
It has been decided that as per paragraph 14.9, it shall be mandatory for all finished and packaged items for retail sale to implement bar coding using international symbologies/international numbering standards. In such cases where export items are not in finished and packaged state, the exporters shall furnish a declaration to Customs to this effect for claiming exemption from bar coding at the time of export.
refund of duty paid at the concessional rate of five per cent on any clearances made before the 1st day of September 2000 on the ground that such clearances are included in the aggregate value of clearances under Sl.No.1 of the TABLE, shall not be admissible.”
Circular No. 547/43/2000-CX I am directed to say that certain doubts have been raised as to mode of payment of duty by a manufacture claiming to be in the small scale sector which may be having one or more than one unit specially where he may be manufacturing branded goods for others on job work basis in one or both of the units. It is pertinent to note that where as for the rate of duty purposes, the value of clearences of one or more units is clubbed under SSi exemption scheme (like Notification no. 9/1999-Central Excise prior to 1.3.2000
Attention is invited to Paragraph 4.11 of the Export and Import Policy 1997-2002, as amended and Paragraphs 7.8 and 7.10 of the Handbook of Procedures, Vol.1, 1997-2002, as amended and also to the Handbook of Procedures, Vol.2, 1997-2002, as amended from time to time.
In case of exporters (other than status holders and green card holders), the licences shall be issued within 3 working days reckoned from the day of presentation of relevant hard copies of application with prescribed documents after following the prescribed procedure.
Attention is invited to the entry at Code No. 1001(a) of Schedule 2 Table – B and Sl. No. 12(i) of Appendix-1 to Schedule 2 in the book titled “ITC(HS) Classifications of Export and Import items 1997-2002 ” specifying the terms and conditions for export of items indicated therein.
Circular No. 795-Income Tax Under the existing provisions of clause (v) of the first proviso to sub-section (1) of section 139, a person not furnishing return under sub-section (1) and residing in specified areas and at any time during the previous year being the holder of a credit card, not being an add-on card, issued by any bank or institution, is required to furnish a return of his income during the previous year on or before the due date specified in the provision.
Circular No. 543/39/2000-CX A number of assessees are engaged in the manufacturer of V.P. Sugar and during the manufacture of sugar the press mud comes out as waste. The department has been contending that the party is required to pay an amount equal to 8% of the value of the press mud as per the provisions of Rule 57CC of Central Excise Rule 1944. On the other hand the tribunal in their various judgements has held that the assessees in question are the manufacturee of V.P. Sugar and press mud is only a residual waste
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