Notification No.G.S.R. 682(E) – Income Tax he Notification printed at [2001] 251 ITR (St.) 97 was published in the Gazette of India, Extry. No. 475, dt. 21.9.2001, Pt. II, sec. 3(i), p. 30.
Circular No.588/25/2001-CX Queries have been raised from field formations about the exact scope and amplitude of these changes. The matter has been examined in consultation with Additional Solicitor General. A copy of the opinion of ASG dt.20.4.2001 is enclosed. The Board has accepted the opinion given by the Learned Additional Solicitor General. You are requested to take follow up action in accordance with the advice of the ASG.
In exercise of the powers conferred by clause (aa) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.12/97-Customs (N.T.), dated the 2nd April, 1997, namely.
For the purpose of adjudication of the show cause notice F.No.SIIB/CUS/41/99 dated the 17th November, 2001 issued to M/s. Honda Siel Cars India Ltd. by the Commissioner of Customs (General), New Delhi.
The matter has been examined further, and as a measure of trade facilitation, it has been decided to introduce two shifts of working on week days and one shift (10A.M. to 5.00 P.M.) on holidays at the Air Cargo Complexes at Mumbai, Calcutta, Chennai, Bangalore, Hyderabad, Delhi and Goa.
The DGFT clarifies exemptions for textiles imported for export production, allowing duty-free import of labels and printed bags for bona fide exporters.
directly or indirectly, by himself, or in combination with other persons, exercises control over the stock broker,whether individual, body corporate or firm or holds substantial share of not less than 15% in the capital of such entities,
SEBI vide its circular no. SMD/POLICY/CIR-24/97 dated September 26, 1997 had, inter alia, stated that if associates of defaulter-broker are holding membership in other stock exchanges, then action.
In case of blended Textiles, if the fibre content of one type is more than 95%, the DEPB rate of the blended item would be the same as that of the particular fibre. However if no fibre constitutes 95% or more of the blend, the DEPB rate would be the lowest amongst the different fibres ignoring those with less than 5% in the blend. DEPB rates would not be denied to composite items provided the value of the extra material is upto 5% of the total value and a DEPB rate exists for the fibre comprising a value of 95% or more of the composite.
Circular No. 587/24/2001-CX A doubt has been raised whether rockwool/slagwool in which more than 25% blast furnace slag was used is classifiable under heading 68.03 as slagwool, rockwool and similar mineral wool being specific entry for the said goods or under heading 68.07 as goods , in which more than 25% by weight of blast furnace slag has been used.
