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In exercise of powers conferred by Section 5 of the Foreign Trade ( Development and Regulation ) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2004-09, the Central Government hereby amends the ITC(HS) Classification of Export and Import Items, 2004-09 as under.
Exempts the taxable service, referred to in sub-clause (zzn) of clause (105) of section 65 of the Finance Act, provided to any person, by an aircraft operator, in relation to transport of export goods by aircraft, from the whole of the service tax leviable thereon under section 66 of the said Finance Act Date: 15th […]
In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-2009, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures.
The words ‘except for Duty Free Credit Entitlement Certificate for Status Holder 2003-04 and Target Plus Scheme applications’ is added at the end of the sentence in the Note below Sr. No 2 ‘Scale of Application fees’ and in Column 4 ‘Amount of Fee’ against Sub-Sr. No. 11 of the Sr. No. 2 ‘Scale of Application fees’ in the Appendix 21 B of the Appendices to the Handbook of Procedures Vol. 1.
Licences for export of items in this List for display or exhibition abroad are subject to a condition of re-import within a period not exceeding six months. Exporters are entitled to apply for an export licence for such items exhibited abroad if the exhibitor intends to offer that item for sale during the exhibition abroad. Such sale shall not take place without a valid licence.
All the returns received by the Superintendent of Central Excise under sub-rule (1) of Rule 12 shall be scrutinized by him to check the correctness of duty assessed. The inspectors posted in the Range will assist him in carrying out the scrutiny.
In the Guidelines for Applicants in the ‘Aayaat Niryaat Form’, giving details of the documents to accompany the application for Star Export House Certification, at Serial No 4. IV.
It is necessary that the supplies made or export performance effected by non-status holder to status holder, the non-status holder has to achieve at least 25 per cent incremental growth over their respective previous years direct export turnover so as to make such supplies eligible for the benefits under the scheme. In light of this, it has been decided that to certify the export figures at Sr. No. 11 of the CA certificate, CA/CS/ICWA may rely on the declaration given by such suppliers (for their supplies made or export performance effected), that they have achieved at least 25% per cent incremental growth over their respective previous years direct export turnover.
Attention is invited to Para 5.1 of Foreign Trade Policy 2004-09 updated as on 31.3.2005 which permits import of second hand capital goods without any age restrictions under EPCG Scheme.It is clarified that second hand capital goods of Indian origin shall not be permitted to be imported under EPCG Scheme.
Circular No. 05 of 2005-Income Tax The Finance (No. 2) Act, 2004 as passed by the Parliament, received the assent of the President on the 10th September, 2004 and has been enacted as Act No. 23 of 2004. This circular explains the substance of the provisions of the Act relating to direct taxes.
