Notification No.S.O.484(E) – Income Tax In pursuance of clause (b) of rule 6 of Part A of the Fourth Schedule to the Income-tax Act, 1961(43 of 1961), and in supersession of the Notification of the Government of India in the Ministry of Finance (Department of Revenue) No. S.O. 120(E), dated the 27th March, 1986, the Central Government hereby fixes, with effect from the 1st day of April, 2001, 9.5 per cent, as the rate referred to in the said clause 6(b)
for the words or a local body, the words or a local body or a recognized school run on a non-commercial basis by any organisation shall be substituted
he principal notification was published in the Gazette of India, Extraordinary, vide notification No. 3/2001-Central Excise, dated the 1st March, 2001 [G.S.R. 128 (E), dated the 1st March, 2001] and was last amended by notification No. 18/2001-Central Excise, dated the 26th April, 2001 [G.S.R. No. 294(E), dated the 26th April, 2001.
The principal notification no. 52/2000 -Central Excise, dated the 19th October, 2000 was issued on 19th October, 2000, vide G.S.R. 803 (E) , dated 19th October, 2000.
Government extends the last date for export of coarse grain/maize till 31st July 2001 under Public Notice No. 14 (RE-2001)/1997-2002.
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. 18/2001 -NT – Customs, [S.O.354(E)] dated the 25th April, 2001 the Central Government hereby determines for the purposes of said section in so far as these relate to export goods, that the rate of exchange of conversion of each of the foreign currency specified in the column (2) of Schedule I and Schedule II appended hereto into Indian Currency or vice versa shall, with effect from the 1st June, 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.17/2001-NT-Customs, [S.O.353(E)] dated the 25th April, 2001 the Central Government hereby.
In exercise of powers conferred under paragraph 4.11 of the Export and Import Policy 1997-2202, the Director General of Foreign Trade hereby announces extension of All Industry rate of drawback of Rs.780/- per M.T. for furnace oil supplied by domestic oil companies to EOU/EPZs under deemed export scheme as notified under Notification No.19 dated 5.6.2000, beyond 31.5.2001 until further orders.
The matter whether Directors appointed under Section 16(4) of the Sick Industrial Companies (Special Provisions) Act, 1985 by the Board for Industrial and Financial Reconstruction (Board) shall be liable to be disqualified under section 274(1)(g) of the Companies Act, 1956 has been examined in this Department in detail.
The Exim Policy (as amended upto 31.03.2001) has permitted imports of free of cost material under the Advance Licence Scheme as envisaged in para 7.4 A of the Handbook of Procedures (Vol 1). However certain doubts were raised regarding computation of value addition in case of free of cost material. The matter was deliberated upon in the Policy Review Committee and it has been decided that for arriving at the value addition.
