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On the other hand the amendment in PN 64 dated 19.02.2003 pertains to such established domestic companies who fulfil certain specified criteria like being registered with both the central excise and state sales tax authorities and having paid both the taxes unless exempted and having a minimum investment in plant and machinery of Rs 50 lakhs. The Advance Licence issued to such domestic companies would carry an endorsement that the bond/ BG furnished would be as per the terms and conditions stipulated by the Department of Revenue.
The principal notification No. 26/2000-Customs dated the 1st March, 2000, was published in the Gazette of India, Extraordinary, dated the 1st March, 2000, vide G.S.R. 178(E) dated the 1st March, 2000 and was last amended by notification No. 126/2002-Customs dated the 12th November, 2002.
Notification No.54 – Income Tax In exercise of the powers conferred under sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961, (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, (Department of Revenue), Central Board of Direct Taxes, bearing S.O. No. 882(E) dated 14th September, 2001 and published in the Gazette of India, Extraordinary, Part II, section 3
Notification No.53 – Income Tax In exercise of powers conferred by clause (xiiia) of sub-section (2) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the New Jeevan Dhara-I and New Jeevan Akshay-I Plans of the Life Insurance Corporation of India, as filed by that Corporation with the Insurance Regulatory and Development
