The principal notification was published vide number S.O. 829 (E), dated the 21st November, 1994 and last amended vide notification number 93/2005-Customs (NT), dated the 10th October, 2005, S.O. 1478 (E), dated the 10th October, 2005.
Import of motor cars, sports utility vehicles/all purpose vehicles shall be allowed only to hotels, travel agents, tour operators or tour transport operators and companies owning/operating golf resorts whose total foreign exchange earning from the hotel, travel & tourism and golf tourism sectors in the current and preceding three licensing years is Rs 1.5 crores or more. The ‘duty saved’ amount on all EPCG licences issued in a licensing year for import of motor cars, sports utility vehicles/all purpose vehicles shall not exceed 50% of the average foreign exchange earnings from the hotel, travel & tourism and golf tourism sectors in the preceding three licensing years. However, the parts of motor cars, sports utility vehicles/ all purpose vehicles such as chassis etc.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (Sl.No.66) read with Para 1.3, 2.1 & 2.29 of the Foreign Trade Policy, 2004-2009 (as amended from time to time), the Central Government hereby makes the following amendment in the Note under Chapter 26 of Schedule 2 of ITC(HS) Classifications of Export and Import Items, 2004-2009.
Circular No.02 of 2006-Income Tax Section 80-HHC read with section 28 of the Income-tax Act, 1961 has been amended by the Taxation Laws (Amendment) Act, 2005. The section 80-HHC so amended, inter-alia, provides that
In exercise of the powers conferred by sub-section (1), read with sub-section (5) of section 9A of the said Customs Tariff Act, and rules 18 and 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995.
The above instructions may be brought to the notice of all concerned for effective implementation. Please acknowledge receipt of this circular.
whereas, the designated authority vide notification No. 39/1/1999-DGAD, dated the 1st December, 2005, published in Part I, Section 1 of the Gazette of India, Extraordinary, dated the 1st December, 2005, after conducting Sunset Review has come to the conclusion that.
The principal notification was published vide number G.S.R. 21(E), dated the 8th January, 1999 and was last amended vide G.S.R. 219(E), dated the 22nd March, 1999.
