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Archive: 2003

Posts in 2003

Public Notice No. 12 (RE-2003)/2002-2007, Dated: 06.06.2003

June 6, 2003 442 Views 0 comment Print

Notice updates import procedure for vegetable fats under the India-Nepal Treaty, adding STC as an eligible importer alongside CWC.

Revised norms for execution of Bond and Bank Guarantee under Advance License and EPCG Schemes-reg

June 6, 2003 2713 Views 0 comment Print

It shall be the responsibility of the jurisdictional Superintendent of Central Excise that while issuing Certificate about export performance in terms of Para 3.1(c) or about the fact of payment of central excise duty for the purpose of para 3.1(d), he satisfies himself about the genuineness of the declaration being given by the license holder.

Section 166 of the Finance Act, 2003- Incorporation of provisions relating to Prosecution in the Finance Act, 1989 in respect of Inland Air Travel Tax-Reg

June 6, 2003 1258 Views 0 comment Print

It may be noted that the new sections incorporated in the Finance Act, 1989 contain provisions relating to imprisonment and fine for failure to pay inland air travel tax to credit of the Central Government. The new provisions enable the Central Government to take action against the defaulting airlines, which fail to deposit the Inland Air Travel Tax to the account of Central Government in spite of having collected the same from the passengers.

SEBI : Trade Guarantee Fund (TGF)/ Settlement Guarantee Fund(SGF) – reduced exposure for ten rolling settlement

June 5, 2003 5839 Views 0 comment Print

The undersigned has been authorized to direct the exchanges to make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately.

Amend the Courier Imports and Exports (Clearance) Regulations, 1998

June 5, 2003 523 Views 0 comment Print

The principal notification No. 87/98-Customs (N.T.), dated the 9th November, 1998 was published in the Gazette of India Extraordinary Part II, Section 3, sub-section (i), dated the 9th November, 1998 vide G.S.R. 662(E) dated the 9th November, 1998 and was last amended vide notification No. 11/2001-Cus. (N.T.), dated the 14th March, 2001, published in the Gazette of India Extraordinary Part II, Section 3, sub-section (i), dated the 14th March, 2001 under G.S.R. 184 (E) dated the 14th March, 2001.

Change of port in the Shipping documents pending amendment in AEPC certificate for hosiery exports-Reg

June 5, 2003 628 Views 0 comment Print

I am directed to invite your attention to above mentioned subject and to state that the Ministry of Commerce has brought to the notice of the Board that the exporters of hosiery are facing problems in shipment of exports via a port other than the port mentioned in the AEPC certificate for which they have to obtain the amendment in the AEPC certificate and then the amendment in the Shipping Bill is permitted by the Customs. In the entire process delay is caused which eventually affects the target date of exporters.

Money Transfer Service Scheme (MTSS) & Guideline

June 4, 2003 5899 Views 0 comment Print

Money Transfer Service Scheme ( MTSS ) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only personal remittances such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible. The system envisages a tie-up between reputed money transfer companies abroad and agents in India who would disburse the funds to the beneficiaries at ongoing exchange rates. The system does not envisage the repatriation of such inward remittances. The India agent is also not allowed to remit any amount on account of exchange loss to the overseas principal.

Notification No. 89/2003-Customs, dated; 4.06.2003

June 4, 2003 616 Views 0 comment Print

For the purposes of this notification, “rate of exchange” applicable for the purposes of calculation of 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 under sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) 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.

Circular No.45/2003-Custom Duty, dated; 04.06.2003

June 4, 2003 484 Views 0 comment Print

Marine Products Export Development Authority (MPEDA) and Seafood Exporters Association of India ( SEAI) represented to Board that as a result of investigation by DGRI/Customs, export of fish and fish products had suffered and many genuine exporters were facing difficulties in meeting their export schedule. Further, the delay in registration of DEPB scrips was causing delay in clearance of import consignments.

Notification No. 37/2003-Customs (N.T), dated: 03.06.2003

June 3, 2003 796 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Board hereby appoints:- 1. Commissioner of Customs (Adjudication), Mumbai; 2. Commissioner of Customs (Adjudication), Chennai; 3. Commissioner of Customs (Adjudication), Delhi; and 4. Commissioner of Customs (Adjudication), Kolkata.

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