If any document other than Bye Laws / Rules / Regulations is sent for approval, the justification and need for forwarding same to SEBI, indicating whether it forms a part of any Bye Law or Rule or Regulation.
In cases where the exporter has not applied for DEPB credit in respect of shipping bills where date of order of Let Export is on or after 1st April, 2002, he can apply for the DEPB with new rates notified by Public Notice No.62 dated 17.2.2003. Such applications shall be filed in the appendix 10C alongwith prescribed documents as per procedure given in Handbook (Vol.1)
Pursuant to the above Securities and Exchange Board of India (Delisting of Securities) Guidelines 2003, has been issued (Copy enclosed). These guidelines shall come into effect immediately.
Public Notice No. 62 (RE-2002) outlines updates to the Duty Entitlement Passbook Scheme (DEPB), detailing duty credit calculations and product-specific rates.
There have been representations from the trade that since the procedure of application and issuance of brand rate letters under Rule 7 involves one to two months, they remain out of funds and face financial difficulties.
The trade has however been representing that on occasions it becomes difficult to resolve the composite article into its constituent components and the only alternative is to break the article. This results in wastage of the products and also the exporters are asked to go for laboratory testing to ascertain the composition of individual materials.
It is also clarified here that as regards such manufacturer- exporters and supporting manufacturers who are registered with Central Excise, the fact of non-availment of Cenvat facility can be confirmed from ARE-I which these exporters shall be furnishing. Therefore, in case of registered manufacturer-exporters and merchant exporters with registered supporting manufacturers the earlier practice of acceptance of ARE-I shall continue.
directed to forward herewith a copy of the following Notifications published in the Gazette of India for your information and necessary action.
The principal notification No. 39/2001-Central Excise dated the 31st July, 2001was published in the Gazette of India vide number GSR 565 (E), dated the 31st July, 2001 and was last amended by notification number 60/2002-Central Excise, dated the 19th December, 2002 [G.S.R.827(E) dated the 19th December, 2002.
Rate of exchange applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is specified in the notification of the Government of India in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of the said Customs Act, and the relevant date for the determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Customs Act.
