It is reiterated that the Certificate of Origin (NP) being issued by the agencies listed in Appendix 4-C of HBP Vol. I, should be strictly as per the official format, already notified by this Office as Annexure-II to Appendix 4-C. Agencies listed in Appendix 4-C and found not issuing the Certificate of Origin (NP) as per the prescribed official format, shall invite action as may be necessary, including delisting from the Appendix 4-C of HBP Vol.I.
I am directed to say that certain references have been received from field formations raising doubts over prospective implementation of the orders relating to classification, valuation or other matters having recurring revenue implications when a stay has been granted against recovery by Commissioner (Appeals) or Tribunal.
In exercise of the powers conferred by clause (aa) of sub-section (1) read with sub-section (2) of section 7 of the Customs Act, 1962 (52of 1962), the Central Board of Excise and Customs hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue).
The Principal notification was published in the Gazette of India, Extraordinary, vide notification no.36/2001 – Customs (N.T.), dated, the 3rd August, 2001 (S.O.748 (E), dated, the 3rd August, 2001) and was last amended vide Notification No.01/2006-Customs (N.T), dated, the 2nd January, 2006 (S.O.1(E) dated 2nd January, 2006).
Public Notice No. 82 (RE:2005)/2004-2009 updates input-output norms for chemicals, engineering, and food products, effective from January 16, 2006.
The Stock Exchanges are advised to report to SEBI, the action taken in this regard in Section II, item no. 13 of the Monthly Development Report for the month of February, 2006.
They accept responsibility for establishing and maintaining internal controls for financial reporting and that they have evaluated the effectiveness of internal control systems of the company pertaining to financial reporting and they have disclosed to the auditors and the Audit Committee,
“Whether, on the facts and in the circumstances of the case, there was a material irregularity in the notice issued to the assessee under section 34 and dated 28th February, 1958, and if so, whether such irregularity vitiated the proceedings taken under the said notice ?”
The notification No 154/94-Cus dated 13-07-94 allows duty free import of commercial samples valued upto Rs 60,000 or 15 units in number within a period of 12 months, as personal baggage by bonafide commercial travelers or businessmen are imported by post or air. New Paragraph No. 4A.31 has been inserted in HOP so as to enable exporters of Gem & Jewellery sector to import samples without payment of duty up to Rs. Three lakhs or upto 0.25% of average 3 years export, whichever is lower. In order to implement the provision of HOP, notification No.154/94-Cus dated 13-07-94 was amended suitably by notification No.50/2005-Cus.
Provided that the Board may restrict the certificate of registration to providing custodial services either in respect of securities or in respect of gold or gold related instruments of a client.
