In exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) and in supercession of the notification of the Government of India in the Ministry of Finance & Company Affairs (Department of Revenue) No.82/2002-NT-Customs, dated the 26th December, 2002 [S.O.1368(E), dated the 26th December, 2002], the Board hereby determines for the purposes of said section relating to export goods, that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II appended hereto into Indian currency or vice versa shall, with effect from the 1st February, 2003.
In exercise of the powers conferred by 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 & Company Affairs (Department of Revenue) No.81/2002-NT-Customs, dated the 26th December, 2002 [S.O.1367(E) dated the 26th December, 2002], the Board hereby determines for the purposes of said section, relating to imported goods, that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II appended hereto into Indian currency or vice versa shall, with effect from the 1st February, 2003.
Notification No.27 – Income Tax In exercise of the powers conferred by section 295 read with sub-section (4C) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
Notification No.25 – Income Tax It is notified for general information that enterprise/industrial undertaking, 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
Notification No.24 – Income Tax It is notified for general information that enterprise/industrial undertaking, 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
In terms of Para 2.56 of Handbook of Procedure, Vol. I of 2002-2007 EXIM Policy, in cases where the exporter is denied benefit of one export promotion scheme by Customs or DGFT, he is permitted to avail benefit of another export promotion scheme provided otherwise he is entitled to the benefit of such scheme. DOR has issued couple of Circulars in the past in terms of which conversion of free shipping bill into drawback shipping bill or Advance License shipping bill into old Pass Book shipping bill etc. is permitted subject to fulfillment of specified conditions.
Constitution of an Advisory Committee to be called the National Advisory Committee on Accounting Standards under section 210A(1) of the Companies Act, 1956.
