Notification No.260/2005 – Income Tax In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), number S.O. 279(E) dated the 12th March, 2003, namely
It is hereby clarified that the Policy Circular No.32 dated 21.11.2005 is applicable only to the particular branch of the Pre-shipment Inspection Agency mentioned therein. The temporary suspension will not be applicable to other branches / head office of the Agency.
Notification No.259/2005 – Income Tax S.O. (E).-In exercise of the powers conferred by clause (xiii) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme, further to amend the Equity Linked Savings Scheme, 2005, namely
Attention is invited to DGFT Policy Circular No.12 (RE 2005/2004-2009) dated 27.6.2005. Paragraph 3 of this Circular is related to re-export of the material imported from an unregistered source in the event of failure to export the resultant product. As per the said circular, the exporter is required to re-export the imported material to the satisfaction of Customs Authorities. Representations have now been received on the difficulties in operation of this provision and accordingly the trade bodies.
The principal notification No. 61/94-Customs (N.T.), dated the 21st November, 1994 was published vide number S.O. 828 (E), dated the 21st November, 1994 and was last amended vide notification No. 92/2005-Customs (N.T.), dated the 10th October 2005 and published vide number S.O. 1477(E), dated the 10th October 2005.
Whereas in the matter of import of Methylene Chloride (hereinafter referred to as the subject goods), falling under the tariff item 2903 12 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in or exported from the European Union, South Africa and Singapore (hereinafter referred to as the subject countries), the designated authority in its preliminary findings vide notification No.17/1/2001-DGAD, dated the 24th December, 2002, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 24th December, 2002.
For uncleared/ unclaimed goods which are lying for a period less than one year, the custodian would get the reserve price fixed by a panel of Government approved valuers appointed by the Custodian. Customs shall not associate itself with the valuation of the such goods lying uncleared with the custodian.
The following agency is added in Appendix 6 of Handbook of Procedures, Vol.1, at Sl. No. 38 under category ‘A’- List of IS/ISO 9000 (Series) Certification Agency and at Sl. No. 4 under Category ‘C’- in list of HACCP Certification Agency.
It has been reported that customs authorities are not permitting the scrips under Vishesh Krishi Upaj Yojana to be utilized for purpose of imports. It is clarified that duty credits issued under Vishesh Krishi Upaj Yojana can be utilized for payment of customs duty on import of inputs and goods which are freely importable.
The matter has been considered and it has been decided that the last date for submission of application for claiming benefit under Target Plus Scheme will now be 31st March 2006. It is also clarified that this is the last and final extension of last date and no further request will be entertained in this regard.
