Capital goods, equipments, components, parts and accessories, whether imported or indigenous, except those restricted for export in the ITC(HS) Classification of Export & Import items, 2002-2007, may be sent abroad for repairs, testing, quality improvement of up-gradation or standardization of technology and re-imported without a licence/certificate/permission.
Before accepting the undertaking certain additional factors should also be kept in mind, e.g. whether the land/building is owned or leased, whether the capital goods are hypothecated to a bank or are free from any encumbrances, etc.
All goods landed upto 31.3.2003 and lying uncleared /unclaimed may be taken up for disposal by the Custodians and the process of disposal should be completed by 30.4.2004 by the respective custodians.
I am directed to say that the Board has circulated the views of Development Commissioner (Handicrafts) vide circulars No. 128/39/95-CX dated 25-51995-CX and No 228/114/96-CX dated 19.12.96 about the classification of goods to be classified as “Handicrafts” for availing exemption of excise duty under notification No. 76/86-CX dated 10-2-86. The circular dated 19.12.96 was issued in the light of judgment of the Hon”ble Supreme Court in the case of CCE.,
Mutual Funds should approach BSE (Mr. Kevin Desouza) or NSE (Mr. Uday Mallya) latest by February 4, 2004 to obtain a unique client code for each of their existing schemes and plans (the later wherever the portfolio of the plans is different).
A Foreign Institutional Investor or sub account shall ensure that no further down stream issue or transfer of any instrument referred to in sub-regulation (1) is made to any person other than a regulated entity
In exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) and in suppression of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.115/2003-NT-Customs, dated the 26th December, 2003 [S.O.1473(E), dated the 26th December, 2003], the Board hereby determines for the purposes of said section relating to export goods.
In exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of Customs Act, 1962 (52 of 1962) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.114/2003-NT-Customs, dated the 26th December, 2003 [S.O.1472(E) dated the 26th December, 2003].
It may please be noted that the amending notifications do not have any retrospective effect. In other words these notifications will not regularise duty free import/ domestic procurement of goods effected by trading units between 24-6-2002 and 1-1-2004.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance.
