In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-09 and Paragraph 1.1 of Handbook of Procedures (Vol.1), the Director General of Foreign Trade hereby notifies as follows.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009 (as amended from time to time), the Central Government hereby makes following amendment in the Paragraph 2 of Notification No.18(RE-2006)/2004-2009.
The principal notification No. 50/2003-Central Excise, dated the 10th of June, 2003, was published in the Gazette of India, Extraordinary, vide number G.S.R. 472(E), dated the 10th of June, 2003 and was last amended by notification No. 13/2006-Central Excise, dated the 1st of March, 2006, published vide number G.S.R.103(E), dated the 1st of March, 2006.
For the purposes of this notification, “rate of exchange” applicable for the purposes of calculation of anti-dumping duty shall be the rate which is specified in the notification of the Government of India in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers under sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) and the relevant date for the determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Customs Act.
mutual funds can invest in ADRs/GDRs/Foreign Securities within overall limit of US$2 bn. with a sub-ceiling for individual mutual funds which should not exceed 10% of the net assets managed by them as on March 31 of each relevant year, subject to a maximum of US $100 mn. per mutual fund.
This appeal is arising out of the order of the Tribunal dt. 27th April, 2001 sustaining the penalty levied against the assessee-appellant under Section 271B for failure on the part of the assessee to get its accounts audited and obtain the report of such audit before the date prescribed under Section 44AB.
