The Bank will decide at which centre the gold is to be sold based on various cost / other factors and will also exercise its discretion/ judgment as to (a) when to sell (b) at what price to sell. Although it has to be borne in mind that gold prices can fluctuate significantly even during the course of a single day, the Bank will use its discretion/ market knowledge to get the benefit of the “best” possible price. The concerned Commissioner will, post – sale, make an evaluation as to whether, in view of the range of prices prevailing at the time of sale, the “best” possible sale has been made. The above arrangement will be reviewed as and when necessary through mutual discussion.
Notification No.188/2005 – Income Tax S.O. 1114(E).— In exercise of powers conferred by the sub-clause(1) of clause(15) of section 10 of the Income tax Act, 1961(43 of 1961), the Central Government hereby specifies the India Millennium Deposits, being bank instruments representing foreign currency denominated deposits in the form of promissory notes, issued by the State Bank of India, a bank constituted under section 3 of the State Bank of India Act, 1955(23 of 1955) as deposits for the purposes of the said sub-clause
Notification No.187/2005 – Income Tax S.O.1111(E).— In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby approves the institutions mentioned in column (2) of the Table below and specifies the eligible
The undersigned is directed to invite your attention to the above mentioned subject and to say that in the wake of representations from the trade and industry that the present export documentation procedure is complex and cumbersome and that under the system the exporters are required to submit a large number of documents and declarations to the Customs, causing delays and adding to the transaction cost, the Government had set up a Sub-Committee under the chairmanship of the Chief Commissioner of Customs, Delhi to study the problem in all its aspects and make recommendations.
The merits of these representations were considered in this office and it is clarified that Service Providers like Customs House Agents, etc. shall be entitled for benefits under Served From India Scheme for the services exclusively rendered by them and for which the foreign exchange earnings are received and retained by them on this account.
RBI Guideline on Submission of Annual Information Return relating to issue of Bonds for Rs. 5 lakh or more under Section 285 BA of Income Tax Act, 1961
This circular is being issued in exercise of the powers conferred by Section 11(1) of Securities and Exchange Board of India Act, 1992 to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market.
This circular is being issued in exercise of the powers conferred by Section 11(1) of Securities and Exchange Board of India Act, 1992 to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market.
We hereby declare that I/we have perused the list of SCOMET items as contained in the Appendix 3 to the Schedule 2 of the ITC (HS) Classifications of Export-Import Items, 2004-09 andthat the item(s) exported / proposed to be exported does not fall within this list and that I/ We agree to abide by the provisions of the Policy for export of SCOMET items contained in the Foreign Trade Policy, Schedule 2 of ITC (HS) and the Handbook of Procedures (Vol.1), irrespective of the scheme under which the item is exported / proposed to be exported
The undersigned is directed to invite your attention to the above mentioned subject and to state that an issue has been raised as to whether goods entered for exportation, which are seized for mis-declaration of quantity, value etc, can be released provisionally pending investigation, adjudication and appeal proceedings.
