A doubt has arisen in cases where customs duty is chargeable on ad-valorem basis, whether there would be any requirement for determination of the quantity of the goods as the basis for levy of customs duty would be the transaction value, i.e., invoice price and not the quantity.
Now, in view of the Department’s Review Petition in the case of Commissioner of Customs, Calcutta, Vs. Indian Oil Corporation Limited being dismissed by the Hon’ble Supreme Court, all pending provisional assessments in respect of importation prior to 02.03.2001 may be finalized accordingly.
The matter has been considered by the Board and it has been decided that all pending cases involving lighterage charges would be finalized on the basis of World Scale Rates and AFRA wherever available. In case of minor ports where WSO rates along with AFRA are not available, the concerned Commissioners should direct the shipping companies to get the WSO rates fixed.
Circular No.01/2006-Income Tax Section 80-IA of the Income-tax Act, 1961, inter alia, provides for 100% deduction of profits and gains derived by an enterprise carrying on the business of (i) developing or (ii) operating and maintaining or (iii) developing, operating and maintaining any infrastructure facility which fulfils all the following conditions
The application for grant of credit under Vishesh Krishi Upaj Yojana may be made to the licensing authority concerned in the Aayaat Niryaat Form along with the documents prescribed therein. The applicant may file one or more applications subject to the condition that each application shall contain not more than 25 shipping bills. All the shipping bills in any one application must relate to exports made from one Customs House only.
Para 4.40 of the Handbook of Procedures (Vol 1) allows certain notified ports to be treated as a single port for the purposes of imports and exports. However, the present distributed architecture of the Customs electronic system does not allow import clearances from all the notified ports in the same city. Therefore, the Regional Licensing Authorities will issue all Licences for a single notified Port only along with the unique six digit Location Code of the Customs ‘Port of Registration’ to facilitate speedy clearances against the licences issued.
Your attention is invited to Board’s Circular No. 31/2003-Cus dated the 7th April,2003 on the above subject. As per existing instructions, in the port cities, the administrative control over all the EOUs including EHTP and STP units falling within the territorial jurisdiction of Commissioner of Customs shall be with the Commissioner of Customs. At other places, the administrative control over EOU/EHTP/STP units shall be with jurisdictional Commissioner of Central Excise. The only exception will be in respect of Bangalore Customs.
Un-denatured ethyl alcohol of strength 80% or higher is classifiable under sub-heading 2207.10 whereas denatured ethyl alcohol is classifiable under sub-heading 2207.20. Denatured ethyl alcohol attracts concessional rate of customs duty @10% basic under Notification No. 21/2002-Cus., dated 1.3.2002 (Sl.No.50) as against 150% basic on un-denatured ethyl alcohol. Ethyl alcohol is imported in un-denatured form, whether for use as such (e.g. potable type) or for industrial use. In case of latter use, ethyl alcohol requires to be denatured before clearance.
For the purposes of this notification, “rate of exchange” applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is specified in the notification, issued from time to time, in exercise of the powers conferred by 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.
Notification 37 (RE-2005) revises ITC(HS) Import Policies for cellular phones, radio communication equipment, and updates terminology in line with current regulations.
