I am directed to refer to Circular No. 704/20/2003-CX dated 31.3.2003 on the subject mentioned above. The circular has been set aside by the Hon’ble High Court of Karnataka in the case of M/s Grasim Industries Ltd. [2004 (163) ELT 10 (Kar.)].
In exercise of the powers conferred by clauses (i) and (ii) of section 133 of the Finance Act, 2002 (20 of 2002), the Central Government hereby further amends the notification of the Government of India in the Ministry of Finance
The principal notification No. 59/2003-CENTRAL EXCISE, dated the 22nd July, 2003, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R 576 (E), dated the 22nd July, 2003 and was last amended by notification No. 19/2004-CENTRAL EXCISE, dated the 31st March , 2004 [G.S.R. 247 (E), dated the 31st March, 2004.
Notification No. 143-Income Tax It is notified for general information that the enterprise, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962 with effect from the Asstt. Year 2000-01 to Asstt. Year 2029-30 (upto 14.07.2028) i.e.
I am directed to say that Board’s attention has been drawn to treatment of CENVAT credit balance lying unutilized at the end of the financial year in Income Tax returns by the manufacturers of excisable goods which would provide possibility of availing unintended double benefit both under Central Excise and Income Tax law.
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 supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.37/2004-NT-Customs, dated the 25th March, 2004 [S.O.393(E), dated the 25th March, 2004], 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.36/2004-NT-Customs, dated the 25th March, 2004 [S.O.394 (E) dated the 25th March, 2004].
This circular is being issued in exercise of powers conferred by section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with section 10 of the Securities Contracts(regulation) Act 1956, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
: India permits new vehicle imports via select ports as per Notification No. 41 (RE-2003)/2002-07, dated April 26, 2004.
Vide order dated 24th September 2003, the Hon’ble Apex Court has at page 15 of the order allowed a time period of 12 months for upgradation of Customs laboratories at gateway ports as well as posting of manned staff. Action has been initiated by C.R.C.L. in this regard.
