"February, 2001" Archive

SEBI : Restriction on investments in print media sector

Circular No. FITTC/FC/10/2001 (28/02/2001)

The Reserve Bank of India has vide its notification no. FEMA.35/2001-RB dated February 16, 2001 amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 disallowing purchase of shares and convertible debentures of an Indian company,...

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Companies (Amendment) Act 2000 (53 of 2000)

Notification No. S.O. 176(E) (27/02/2001)

S.O. 176(E). - In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2000 (53 of 2000), the Central Government hereby appoints the 1st day of March, 2001, as the date on which the provisions of section 7 of the said Act shall come into force....

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Public Notice No. 58 (RE-2000)/1997-2002, Dated: 26.02.2001

Public Notice No. 58 (RE-2000)/1997-2002 (26/02/2001)

Attention is invited to the provisions of Public Notice No. 17 (RE-2000)/1997-2002 dated 30th June,2000 which inter-alia lays down the permanent IEC Numbers to be used by certain categories of Importers/Exporters, which are otherwise exempted from obtaining IEC Numbers. Recently in the wake of earthquake, which has hit many parts of the W...

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Notification No. 8/2001-Customs (N.T.), dated: 26.02.2001

Notification No. 8/2001-Customs (N.T.) (26/02/2001)

In exercise of the powers conferred by sub-section(1) of section 4 of the Customs Act, 1962(52 of 1962), the Central Government hereby appoints the Commissioner of Customs, Air Cargo Unit, New Customs House, Indira Gandhi International Airport, New Delhi, to be the Commissioner of Customs, Inland Container Depot, Tughlakabad, New Delhi, C...

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Duty Drawback on Polyester Ties-regarding Dated : 26/02/2001

Drawback Circular No.12/2001-Custom Duty (26/02/2001)

The issue has been examined in the Board. It is clarified that Neck Ties are basically clothing accessories, which are covered by Customs Tariff Heading 62.15. The said Custom Tariff heading does not find mention any where in the Drawback Table. The reason being that no data has been received from the Export Promotion Councils for formula...

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Notification No. 7/2001-Customs (N.T.), dated: 26.02.2001

Notification No. 7/2001-Customs (N.T.) (26/02/2001)

For the purpose of adjudication of the case pertaining to the exports made by M/s. Universal Garments, N-40 Commercial Area, Kirti Nagar, New Delhi, in respect of show cause notice DRI.F.NO.50D/54/98-CI dated the 12th September, 2000, issued by the Joint Director, Directorate of Revenue Intelligence, D Block, Indraprastha Bhawan, I.P.Esta...

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Notification No. 6/2001-Customs (N.T.), Dated: 26.02.2001

Notification No. 6/2001-Customs (N.T.) (26/02/2001)

The principal Notification No.12/97-Customs(N.T.), dated the 2nd April,1997 was published in the Gazette of India, Extraordinary Part-II, section 3, sub-section(i), vide G.S.R.193(E) dated the 2nd April,1997 and subsequently amended by Notification No.7/98-Customs(N.T.), dated the 4th February,1998, published in the Gazette of India, Extr...

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Valuation (Customs) – Cases handled by Special Valuation Branch of the Custom Houses – Review of instructions

Circular No. 11/2001-Custom Duty (23/02/2001)

Furthermore, where provisional assessment is being resorted to, the investigation and finalisation of the assessment must be completed within four months from the date of reply. If no decision is taken within 4 months, the extra duty deposit should be discontinued and the concerned Deputy Commissioner/Assistant Commissioner will be held r...

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All Industry Rates of Drawback in respect of Ready-made Garments falling under SS No.62.02 of the Drawback Table regarding.

DBK Circular No. 10/2001-Custom Duty (23/02/2001)

The issue has been examined. The applicability of drawback caps should be decided taking into account the normal commercial practice of marketing, packing and invoicing, i.e., whether the goods like Lehnga-Choli. Skirt-Blouse, etc, are being sold as one unit of ready made garment at one price or these are individual components and being a...

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Notification No. 5/2001-Customs (N.T.), dated: 23.02.2001

Notification No. 5/2001-Customs (N.T.) (23/02/2001)

In exercise of the powers conferred by sub-clause (a) of sub-section (3) of Section 14 of the Customs Act, 1962 (52 of 1962) and in supersession of the Notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 3/2001-NT-Customs, [S.O.74(E)] dated the 25th January, 2001 the Central Government hereby det...

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Notification No. 4/2001-Customs (N.T.), dated: 23.02.2001

Notification No. 4/2001-Customs (N.T.) (23/02/2001)

In exercise of the powers conferred by sub-section (2) of section 20 of the Indian Stamp Act 1899 (2 of 1899) and sub-clause (i) of clause (a) of sub-section (3) of Section 14 of Customs Act, 1962 (52 of 1962) and in supercession of the Notification of the Government of India in the Ministry of Finance (Department of Revenue) No.2/2001-NT...

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Policy Circular No. 40 (RE-2000)/1997-2002, Dated: 22.02.2001

Policy Circular No. 40 (RE-2000)/1997-2002 (22/02/2001)

Compliance to the mandatory Indian Quality Standards as mentioned in Column 2 of the Annexure to notification no. 44 dated 24.11.2000, shall not be applicable on imports made under Annual Advance Licences and Advance Licences for physical exports issued with actual user condition, (para 7.4 and 7.4A of Exim Policy prior to RE-2000 and 7.3...

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Import of goods in commercial quantity as baggage – Procedure for acceptance of Oral Declaration of passengers- Reg

Circular No. 9/2001-Custom Duty (22/02/2001)

In order to take care of this problem he has suggested issue of a Notification under Section 81 (a) of the Customs Act, 1962 specifying the maximum time limit within which the passengers should make a declaration before Customs. Since this Notification will have implication for all the passengers coming at any of the Airport, the matter m...

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Circular No. 572/9/2001-Central Excise, Dated: 22.02.2001

Circular No. 572/9/2001-Central Excise (22/02/2001)

Circular No. 572/9/2001-CX I am directed to state that it has come to notice of the Board that doubts prevail in the field formations in regard to action to be taken for disposal of refund/rebate cases where the matter is pending with different appellate authorities. In this regard, attention is drawn to the CBEC Circular No.398/31/98-CX...

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Circular No. 571/8/2001-Central Excise, Dated: 22.02.2001

Circular No. 571/8/2001-Central Excise (22/02/2001)

Circular No.571/8/2001-CX I am directed to say that the Board has reviewed the working of the system of fortnightly payment of duty, which was introduced in the Budget for the year 2000-2001. The figures indicate that there have been considerable defaults in payments by large number of assessees. Indeed, legal provisions have been made t...

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Public Notice No. 57 (RE-2001)/1997-2002, Dated: 20.02.2001

Public Notice No. 57 (RE-2001)/1997-2002 (20/02/2001)

The Standard Input Output Norms appearing at Sl. No. J-258 to J-264 (under the TextileProduct Group) as amended vide the above Public Notice shall be corrected to read as under....

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Procedure for verification of brand rate applications against export of Processed fabrics & garments.

Circular No. 08/2001-Custom Duty (20/02/2001)

A number of discrepancies have since been observed by Drawback Directorate in the brand rate applications submitted by the exporters and verification reports carried out by field formations in regard to reimbursement of yarn duty against export of processed fabrics & garments....

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Public Notice No. 56 (RE-2000)/1997-2002, Dated: 16.02.2001

Public Notice No. 56 (RE-2000)/1997-2002 (16/02/2001)

Attention is invited to the entry at Code No.1001 of Schedule 2 Table B and S.No.12 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. ...

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Public Notice No. 55 (RE-2000)/1997-2002, Dated: 16.02.2001

Public Notice No. 55 (RE-2000)/1997-2002 (16/02/2001)

In exercise of powers conferred under Paragraph 4.11 of the Export and Import Policy 1997-2002, as notified in the Gazette of India extraordinary, Part-II Section 3, Sub section (ii) vide S.O. No.283(E) dated 31.03.1997, the Director General of Foreign Trade hereby makes the following amendment in Handbook (Vol 1).(RE-00), 1997-2002....

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Notification invests Commissioner, Customs, Delhi with powers of investigation and adjudication of cases arising from NOIDA Export Processing Zone

Notification No. 4/2001-Central Excise (N.T.) (16/02/2001)

In exercise of the powers conferred by clause (b) of section 2 of the Central Excise Act, 1944 (1 of 1944) read with rule 4 of the Central Excise Rules, 1944, and in supersession of notification in Central Board of Excise and Customs No. 25/92-Central Excise (N.T.), dated the 9th October, 1992 published in the Gazette of India...

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Circular No. 570/7/2001-Central Excise, Dated: 16.02.2001

Circular No. 570/7/2001-Central Excise (16/02/2001)

Circular No. 570/7/2001-CX A question has been raised whether the process of drawing of wire from wire rod would amount to manufacture under section 2(f) of Central Excise Act, 1944. Though duties were being paid in various centres by the units undertaking the redrawing of wire from wire rods, doubts are being raised as CEGAT in a recent...

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Notification No. 16/2001-Customs, Dated: 15.02.2001

Notification No. 16/2001-Customs (15/02/2001)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Reve...

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SEBI: Launch of Additional Plans under existing schemes

MFD/CIR No. 12/175/01 (15/02/2001)

The matter has been examined further and it has been decided that any ongoing open ended scheme proposing to launch additional plans, other than dividend and growth plans, which differ from the main scheme in terms of portfolio,...

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Consideration of application under paragraph 6.8 of the Handbook(Vol.1) without reference to Headquarters EPCG Committee

Policy Circular No. 39 (RE-00)/2000-2001 (14/02/2001)

Attention is invited to paragraph 6.8 of the Handbook (Vol.1). wherein it has been stated that in such cases where nexus norms have already been communicated by the Headquarters or the same are already established on the basis of the EPCG licences issued in the past by the Port Offices, such applications may not be forwarded to the Head...

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Companies(Central Government’s) General Rules and Forms (Fourth Amendment) Rules, 2001

Notification No. G.S.R. 96(E) (14/02/2001)

In exercise of the powers conferred by the clauses (a) and (b) of sub-section (1) of section 642 read with sub-section (3) of section 60A of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Central Government's) General Rules and Forms, 1956, namely....

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

SMDRP/Policy/Cir-10/2001 (13/02/2001)

Pursuant to the discussions in the meeting of the Group on Risk Management in Equity Markets held on January 31, ...

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Notification No. 50(RE-2000) 1997-2002, Dated: 13.02.2001

Notification No. 50 (RE-2000) 1997-2002 (13/02/2001)

In view of various representations received citing the problems in implementation of bar- coding, the issue has been re-examined. Keeping in perspective the various difficulties faced by trade and industry to adopt bar coding from 1st April, 2001, it has been decided to further postpone the date of implementation until further orders in t...

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SEBI :(Foreign Institutional Investors) (Amendment) Regulations, 2001

Notification No. S.O 128(E) (13/02/2001)

In exercise of the powers conferred by sub–section (1) of Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India...

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Notification No.37/2001 – Income Tax Dated 12/2/2001

Notification No.37/2001 - Income Tax (12/02/2001)

Notification No.37 - Income Tax It is notified for general information that enterprise, listed at para (3) below has 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 2002-2003, 2003-2004 and 2004-2005...

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Notification No.364/2001 – Income Tax Dated 12/2/2001

Notification No.364/2001 - Income Tax (12/02/2001)

Notification No.364 - Income Tax It is notified for general information that the enterprise, listed at para. (3) below has 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 2002-2003, 2003-2004 and 2004-2005...

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General Circular No. 5/2001, dated 12.02.2001

General Circular No. 5/2001 (12/02/2001)

The Companies (Central Government's) General Rules and Forms (Third Amendment) Rules, 2001 - Form 1 AD - Confirmation of change of registered office of the company within a State....

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Circular No. 4/2001-Income Tax Dated 12-2-2001

Circular No. 4/2001-Income Tax (12/02/2001)

Circular No. 4 of 2001-Income Tax An additional surcharge of 2% has also been levied vide the Taxation Laws (Amendment) Ordinance, 2001 for the purpose of deduction of tax at source. In view of this, the amount of income-tax computed at the prescribed rates shall be reduced by the amount of rebate of income-tax ...

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Amendments to S.O. 1087 (E) dated 11.11.99

Notification No. S.O. 133(E) (12/02/2001)

- In exercise of the powers conferred by sub-section (4) of section 205C of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following amendments in the notification of Government of India, in the Ministry of Law, Justice and Company Affairs, Department of Company Affairs, number S.O.1087(E) dated the 11th Nove...

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SEBI : Reporting of Venture Capital Activity.

IES/VCF/Cir-1/2001 (12/02/2001)

All the Venture Capital Funds are requested to provide the information pertaining to their venture capital activity for every quarter starting from the quarter ending December 31, 2000 as per the format enclosed at Annexure-A. Information for the quarter ending December 31,2000 may be sent by February 28, 2001....

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Notification No.G.S.R.88(E) – Income Tax Dated 9/2/2001

Notification No.G.S.R. 88(E) - Income Tax (09/02/2001)

Notification No.G.S.R.88(E) - Income Tax In exercise of the powers conferred by section 44 of the Finance Act, 1989 (13 of 1989), the Central Government, being satisfied that it is necessary and expedient so to do having regard to the special circumstances due to earthquake, hereby exempts the passengers travelling by air on free tickets...

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Circular No. 3/2001-Income Tax Dated 9-2-2001

Circular No. 3/2001-Income Tax (09/02/2001)

Circular No. 3 of 2001-Income Tax Sections 44AD, 44AE and 44AF of the Income-tax Act, 1961, provide for estimating the income under the head ‘Profits and gains of business or profession’ in the cases of assessees en­gaged in the business of (i) civil construction, (ii) plying, hiring or leasing goods carriages, and (iii) retail busi...

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Notification No. 15/2001-Customs, Dated: 09.02.2001

Notification No. 15/2001-Customs (09/02/2001)

The matter of import of Sports Shoes, non-leather sports footwear (hereinafter referred to as 'the subject goods'), falling under sub-heading Nos. 6402.12, 6402.19, 6403.12, 6403.19, 6404.11, 6405.20 or 6405.90 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, the People's Republic of Ch...

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SEBI : Trading and settlement of trades in dematerialised securities

SMDRP/POLICY/CIR-09/2001 (09/02/2001)

In accordance with the aforementioned circulars dated May 29, 2000 and October 16, 2000, out of the 275 scrips required to establish connectivity with both the depositories by January 29, 2001, 122 companies have now established connectivity....

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SEBI : Mutual Funds registered with SEBI/Unit Trust of India/AMFI

MFD/CIR No. 11/171/01 (09/02/2001)

Delays in adhering to the above time limit shall be viewed seriously. In case of any delay, the reasons for such delay must be explained to AMFI and SEBI by the next day. If the NAVs of a mutual fund are not available before commencement of business hours on the following day due to any reason....

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Notification No. 3/2001-Central Excise (N.T.) Dated 9-2-2001

Notification No. 3/2001-Central Excise (N.T.) (09/02/2001)

In pursuance of sub-rule (2) of rule 49 and rule 139 of the Central Excise Rules, 1944, the Central Government hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue and Insurance), No. 266/67 - Central Excise, dated the 28th November, 1967 ( G.S.R. 177...

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Circular No. 569/6/2001-Central Excise, Dated: 9.02.2001

Circular No. 569/6/2001-Central Excise (09/02/2001)

Circular No.569/6/2001-CX I am directed to say that consequent to deletion of clause (iv) of sub-rule (1) of rule 173G, doubts have been expressed whether the Pass-Out System specified by the Board in Circular No. 270/104/96-CX dated 18.11.1996 is necessary considering that now duty can be discharged on fortnightly basis. If it is necess...

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Public Notice No. 54 (RE-2000)/1997-2002, Dated: 07.02.2001

Public Notice No. 54 (RE-2000)/1997-2002 (07/02/2001)

In exercise of powers conferred under paragraph 4.11 of the Export and Import Policy, 1997-2002, as notified in the Gazette of India extraordinary, Part-II- Section 3–Sub-section (ii) vide S.O No. 283(E) dated 31.3.97, the Director General of Foreign Trade hereby makes the following amendment in the Handbook of Procedures (Vol.1) (RE-00...

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Notification No. 35/2001 – Income Tax Dated 7/2/2001

Notification No. 35/2001 - Income Tax (07/02/2001)

Notification No.35 - Income Tax Notification No. 35 of 2001, dt. 7th Feb., 2001 Whereas the annexed Protocol amending the Agreement between the Government of the Republic of India and the Government of the Swiss Federal Council for the Avoidance of Double Taxation with respect to taxes on income has come into force on 20th December, 2000...

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Notification No.34/2001 – Income Tax Dated 7/2/2001

Notification No.34/2001 - Income Tax (07/02/2001)

Notification No.25 - Income Tax It is notified for general information that the enterprise listed at para (3) below has 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 2001-2002, 2002-2003 and 2003-2004...

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Notification No. 49 (RE-2000) 1997-2002, Dated: 07.02.2001

Notification No. 49 (RE-2000) 1997-2002 (07/02/2001)

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 articles intended for donation for the relief and rehabilitation of the people affected by the Earth Qua...

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SEBI : Composition of the deposit with subsidiary

SMDRPD/Policy/Cir-8/2001 (07/02/2001)

SEBI have received representations from the stock exchanging requesting that the non cash component of the deposit may be accepted in the form of Fixed Deposit Receipt (FDR) also. SEBI has considered the representation....

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This Notification imposes Anti dumping duty on Primary Pencil cells and primary batteries

Notification No. 14/2001-Customs (06/02/2001)

Dry Cell Batteries of Chinese origin have been exported to India below their normal value; the Indian industry has suffered material injury and is being threatened with further injury; the injury has been caused by the dumped imports from China; and has considered it necessary to impose anti-dumping duty, provisionally, pending final d...

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Circular No. 07/2001-Cusstom Duty, Dated: 06.02.2004

Circular No. 07/2001-Custom Duty (06/02/2001)

I am directed to invite your attention to Board's Circular F.No.512/91/93-CUS.VI, dated 18th May 1994 regarding the duty payable on excisable goods cleared from 100% Export Oriented Units/ Units in the Export Processing Zone into the Domestic Tariff Area (DTA). A copy of the Circular is enclosed for ready reference. Subsequently, another ...

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Notification No.362/2001 – Income Tax Dated 5/2/2001

Notification No.362/2001 - Income Tax (05/02/2001)

Notification No.362 - Income Tax It is notified for general information that the enterprise, listed at para. (3) below has 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 2001-2002, 2002-2003 and 2003-2004...

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Notification No.25/2001 – Income Tax Dated 5/2/2001

Notification No.25/2001 - Income Tax (05/02/2001)

Notification No.25 - Income Tax It is notified for general information that the enterprise listed at para (3) below has 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 2001-2002, 2002-2003 and 2003-2004...

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Notification No. 48 (RE-2000) 1997-2002, Dated: 05.02.2001

Notification No. 48 (RE-2000) 1997-2002 (05/02/2001)

In continuation of Notification No. 47( RE-2000) /1997-2001 dated 21.12.2000, the following additionsshall be made against the Code No. 0703(1) in Table B of Schedule 2 of the said ITC(HS) relating to “onions ( all varieties other than Bangalore Rose onion and Krishnapuram onions)” under the column, ‘ nature of restriction....

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Grant of DEPB credit against inadmissible products by splitting the FOB value

Circular No. 06/2001-Custom Duty (05/02/2001)

During deliberations in the DEPB Committee, it was noticed that certain field formations are assessing DEPB shipping bills for certain products which are not squarely covered under the relevant DEPB rate entries, and are assessing such shipping bills by splitting the FOB value into two or more elements by costing method or otherwise, and ...

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Circular No. 568/5/2001-Central Excise, Dated: 05.02.2001

Circular No. 568/5/2001-Central Excise (05/02/2001)

Circular No.568/5/2001-CX Rule 2, which provide for definitions, has been amended to insert clauses (1a) and (1b) to define the expressions "appointed day" and "appointed time". The objective of this amendment is to make the other rules simple to read. By defining "appointed time", there will not be any need for amending rules in case G...

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Notification amends Notification No. 16/2000-Cus., Dated: 01-03-2000

Notification No. 13/2001-Customs (02/02/2001)

The principal notification was published in the Gazette of India, Extraordinary, vide notification No. 16/2000-Customs, dated the 1st March, 2000 [G.S.R. 168 (E), dated the 1st March, 2000] and was last amended by notification No. 2/2001 - Customs, dated the 8th January, 2001 [G.S.R. 12 (E), dated the 8th January, 2001]....

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Notification omits Rule 223B and simplifies Budget day procedures

Notification No. 02/2001-Central Excise (N.T.) (02/02/2001)

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, except as respects things done or omitted to be done before such amendment...

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Public Notice No. 53 (RE-2001)/1997-2002, Dated: 01.02.2001

Public Notice No. 53 (RE-2001)/1997-2002 (01/02/2001)

The import of components shall be permitted on net to net basis with accountability clause and the type, technical specifications (including part no., if any), etc., of the components sought for import should conform to those utilised in the manufacturer of the resultant product, which should be reflected in export documents (shipping bil...

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SEBI : Meeting of all Stock Exchanges

SMDRPD/Policy/Cir-6/2001 (01/02/2001)

The stock exchanges proposing to buy-back the membership rights of their inactive members would be allowed to do so, within the existing legal framework....

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SEBI : Distribution of Share Holding

SMDRP/POLICY/ CIR-7/01 (01/02/2001)

as defined in Regulation 2(h) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. The promoters' holding shall include all entities in the promoters' group - individual or body corporates....

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SEBI : President/Executive Director/Managing Director of all the Stock Exchanges/ NSDL/CDSL

SMDRP/Policy/Cir-05/2001 (01/02/2001)

The securities lying in the pool account beyond 6 calendar days would attract a penalty at the rate of 6 basis point per week on the value of securities. ...

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