Circular No. 712/28/2003-CX I am directed to say that PAC in its 39th Report has given certain recommendations on para 2.5 and 2.6 of C&AG Report for the year 1998-99 relating to inordinate delay for recovery of confirmed demands and non-adjudication of demands. Simultaneously Board is also deeply concerned about the large number of cases pending adjudication at various levels.
Regulations, 1992 either directly or through the concerned stock exchange do not provide important details required for expeditiously crediting the drafts to the account of the concerned Broker / Sub-broker. This results in avoidable correspondences and delay in crediting these drafts.
The Private Limited Company and Unlisted Public Limited Company (Buy-back of Securities) Amendment Rules, 2003.
The principal notification was published in the Gazette of India, vide number G.S.R. 466(E) dated the 19th May, 2000 and was last amended vide notification No.5/2003-Customs, dated the 3rd January, 2003 number G.S.R 7(E), dated the 3rd January, 2003.
Provided further that the accounting ratios disclosed in the offer documents in support of basis of the issue price shall be calculated after giving effect to the consequent increase in capital on account of compulsory conversions outstanding, as well as on the assumption that the options outstanding, if any, to subscribe for additional capital will be exercised
In exercise of powers conferred by sub-section (1) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for determination of Injury) Rules, 1995, the Central Government hereby rescinds the notification of the Government of India in the erstwhile Ministry of Finance (Department of Revenue), No. 79/98-Customs, dated the 22nd October, 1998, published in Part II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, dated the 22nd October, 1998 vide No. G.S.R. 636(E), dated the 22nd October, 1998
In the CENVAT Credit Rules, 2002, in rule 9A, in sub-rule (4), for the figures and words “2nd day of May, 2003”, the figures and words “12th day of May, 2003” shall be substituted.
In exercise of powers conferred by sub-section (2) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rule 13 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for determination of Injury) Rules, 1995, the Central Government hereby rescinds the notification of the Government of India in the erstwhile Ministry of Finance (Department of Revenue), No. 50/2002-Customs, dated the 2nd May, 2002, published in Part II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, dated the 22nd May, 2002 vide No. G.S.R. 316(E), dated the 2nd May, 2002, except as respects things done or omitted to be done before such rescission.
The anti-dumping duty imposed under this notification shall be levied with effect from the date of imposition of the provisional anti-dumping duty, i.e., the 2nd May, 2002, and shall be payable in Indian currency.
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 and Company Affairs (Department of Revenue), issued rom 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.
