The principal notification No. 53/2003-Customs (N.T.), dated the 22nd July, 2003, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R. 571 (E), dated the 22nd July, 2003 and was last amended by notification No.59/2004-CUSTOMS (N.T.), dated the 30th April, 2004 [G.S.R.295 (E), dated the 30th April, 2004].
The principal notification No. 52/2003-Customs (N.T.), dated the 22nd July, 2003, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) with G.S.R 570 (E), dated the 22nd July, 2003 and was last amended by notification No 58/2004-CUSTOMS (N.T.), dated the 30th April, 2004 [G.S.R 294(E), dated the 30th April, 2004].
The matter has been examined taking into account the Advisory Opinion 14.1 of the GATT Valuation Code, which stipulates that if the importer can demonstrate that the immediate sale under consideration took place with a view to export the goods to the country of importation, then such transaction would constitute an international transfer of goods. The later transaction, which led to the import, would be the relevant transaction for assessment and Rule 4 of Customs Valuation Rules, 1988 would apply. Hon’ble Supreme Court, in the case of M/s.Hyderabad Industries Limited [2000(115)E.L.T.593(S.C)].
The principal notification No. 58/2003-CENTRAL EXCISE, dated the 22nd July, 2003, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) with G.S.R 575 ( E), dated the 22nd July, 2003 and was last amended by notification No20 /2004-CENTRAL EXCISE, dated the 30th April, 2004 [G.S.R.301 (E), dated the 30th April, 2004.
Accordingly, a standard format of the letter of offer alongwith the general instructions/guidelines has been prepared and enclosed. The said format is also available on SEBI’s web site at www.sebi.gov.in.
Amendment of Notification No. S.O. 219(E) dated 23.2.2004 – “State Industrial Development Corporation of Maharashtra Limited” has been replaced by “SICOM Limited.
Notification No. 42 (RE-2003)/2002-2007 removes specific BIS standards for imports, dated 6th May 2004.
The principal notification No. 115/2003-CUSTOMS, dated the 22nd July, 2003, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R 574 ( E), dated the 22nd July, 2003 and was last amended by notification No. 52/ 2004-CUSTOMS, dated the 31st March, 2004.
In exercise of the powers conferred by sub- section )1) of section 3A of the Customs Tariff Act,1975 (51of 1975), the Central Government, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), vide No. 114/2003-CUSTOMS, dated the 22nd July, 2003, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R 573 ( E), dated the 22nd July, 2003.
In exercise of the powers conferred by sub- section (1) of section 25 of the Customs Act, 1962 (52 of 1962), read with sub-section (6) of the section 3 of the Customs Tariff Act,1975 (51of 1975), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), vide No. 113/2003-CUSTOMS, dated the 22nd July, 2003, published in the Gazette of India, Extraordinary, Part II, Section 3.
