I have been directed to enclose copy of the Hon’ble Supreme Court order dtd. 7th July, 2003 in CA Nos. 4151-4157/2001in the case of CC, Kolkata Vs M/s. Grand Prime Ltd. & Ors [reported in 2001 (137) ELT 795 (Tri-Kolkata)].
So far as refined, bleached and deodorized (RBD) palm oil/palmolein is concerned, the same should conform to the specifications of refined vegetable oil under category A.17.15 of the Prevention of Food Adulteration Act, 1956. Such RBD palm oil/palmolein would be classified under sub-heading 15119010 of the Customs Tariff.
I am directed to refer to Board’s Circular No. 40/2002-Cus., dated 17/7/2002, on the above-mentioned subject, wherein various issues involved in finalisation of provisional assessment cases of marble imports were clarified. In the said Circular, para 2(d) contained guidelines on valuation of marble slabs and marble blocks. Subsequently, vide Circular No.45/2002-Cus, dated 23.7.2002 , it was decided that application of the para 2(d) of said Circular should be kept in abeyance.
All the Foreign Institutional Investors who do not deal in / issue Offshore Derivative Instrument against underlying Indian Securities shall submit a ‘Nil-Report’ as per Circular IMD/CUST/8/2003 dated August 8, 2003.
