The principal notification No. 137/2000-Customs, dated the 19th October 2000, was published in the Gazette of India vide G.S.R. 804(E), dated the 19th October 2000, and was last amended by notification No. 64/2002-Customs, dated the 24th June 2002.
For the purpose of this notification, “Export and Import Policy” means the Export and Import Policy, 1st April, 2002-31st March, 2007, published vide notification of the Government of India in the Ministry of Commerce and Industry vide No.1/2002-2007, dated 31st March, 2002, as amended from time to time.
The principal notification No. 126/94-Central Excise, dated the 2nd September, 1994 was published in the Gazette of India vide G.S.R. 667(E), dated 2nd Sep, 94 and was last amended by notification number 35/2002-Central Excise, dated the 24th June, 2002[G.S.R. 444(E), dated the 24th June, 2002.
The matter regarding application of such revision also in respect of Directors’ Reports annexed to the Balance Sheets, the financial year in respect of which was closed prior to 17.4.2002, has been examined in the Department. A decision has been taken that Directors’ Reports annexed to the Balance Sheets, the financial year in respect of which has closed on 31.3.2002 may include details of employees on the basis of revised limits.
In view of the above, the letter dated May 20, 2002 of RBI is enclosed for your information and compliance, if any. You may like to bring the above to the notice of your members.
The matter has been examined. It is clarified that the said Circular is applicable only for domestic extension flights which ply between two Indian airports without a trip to a foreign airport on their voyage.
