It is further clarified that companies incorporated after the Companies (Amendment) Act, 2000, who have not contributed toward the paid-up capital as per the requirements of Section 3 (1)(iii) and 3 (1)(iv) can also avail Simplified Exit Scheme if other requirements are fulfilled.
The issue has been examined. It has been decided that for the sake of harmony, the readymade garments(knitted/woven) manufacturer-exporters shall also be paid drawback merely on the basis of a self-declaration as to the non-availment of CENVAT facility.
Attention is invited to Public Notice No. 14 dated 31.5.2002, read with the relevant portions of Public Notice No. 33 dated 26.8.2002 and Public Notice No.53 dated 31.12.2002, which introduced a special provision for exemption of special additional duty (SAD) on DEPBs issued under the Exim Policy 2002-07 where the order of “Let Export” was prior to 1.4.2002.
EPCG applications for issue of licenses where the Duty saved amount is upto Rs.50 crores, will continue to be submitted to the concerned Regional Licensing Authority, as per the jurisdiction indicated in Appendix 24 of the HB of Procedure Vol.I. In respect of the above cases, where the duty saved amount is upto Rs.50 crores and licenses have been issued on or after 1.10.2003, the RLA shall not forward such cases to DGFT(HQ) for nexus fixation. The process of nexus fixation in respect the above cases shall be done by the RLA themselves. Further, where the duty saved amount is more than Rs.50 crores, EPCG applications shall also be submitted to the concerned RLA with a copy to DGFT(HQ). In such cases, necessary instructions shall be issued by the DGFT(HQ) to the concerned RLA for issuance of licences after fixation of nexus within the prescribed time of two months.
Government deletes specific conditions in ITC (HS) Classifications for Export & Import items under Notification No. 22 (RE-2003)/2002-2007.
The Principal notification was published in the Gazette of India, Extraordinary, vide notification No. 36/2001- CUS (N.T.), dated, the 3rd August, 2001 [S.O 748 (E), dated, the 3rd August, 2001] and was last amended vide notification no. 92/2003-Cus. (N.T.), dated the 29th October, 2003.
Notification No.294 – Income Tax It is hereby notified for general information that the organisation mentioned below has been approved by the Central Government for the period mentioned below, for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with Rule 6 of the Income tax Rules, 1962 under the category “Association” subject to the following conditions
Notification No.293 – Income Tax It is hereby notified for general information that the organisation mentioned below has been approved by the Central Government for the period mentioned below, for the purpose of clause (hi) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with Rule 6 of the Income tax Rules, 1962 under the category “Institution” subject to
Rate of exchange applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is which is determined by the central government 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.
Notification No.292 – Income Tax In exercise of powers conferred by section 295, read with section SOLA 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
