In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade hereby notifies Handbook of Procedures (Volume I) incorporating Annual Supplement as updated on 11th April 2008 as contained in annexure to this Public Notice and the Appendices to the Handbook of Procedures (Vol.I). This shall come into force from 1st April, 2008.
“Provided that no such clearance or debonding of capital goods under the Export Promotion Capital Goods Scheme of Chapter 5 of the Foreign Trade Policy shall be allowed if the user industry has not fulfilled the positive NFE criteria at the time of clearance or debonding in terms of Para 6.18 (d) of Foreign Trade Policy.
In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes the following amendments in the ITC(HS) Classifications of Export and Import items, 2004-2009.
In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby substitutes, with immediate effect, Para 1.1 of Notification No.85 (RE-2007)/2004-2009 dated 17.3.2008, inserted vide Notification No.92 (RE-2007)/2004-2009 dated 1.4.2008.
The Scheme will be operational only from the ports of Chennai, Kandla, Kolkata, Mangalore, Mumbai, Mundra, Nhavasheva (JNPT), Tuticorin and Visakhapatnam. However, for this purpose Mangalore and Tuticorin shall be treated as the same Port thereby allowing importers to import wood logs from Mangalore and export the sawn timber from Tuticorin and vice-versa. Similar facility shall also be available for Kandla, Mumbai, Mundra and Nhavasheva (JNPT) Ports thereby allowing importers to import from any of the above Ports and export either from the same Port or from any other remaining three Ports.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act,1992 (No.22 of 1992) read with paragraph 1.2 of the Foreign Trade Policy, 2004-2009, the Central Government hereby notifies the Foreign Trade Policy, 2004-2009 incorporating the Annual Supplement as updated on 11th April 2008 and contained in Annexure to this notification. The policy shall come into force w.e.f. 1st April 2008.
For the purposes of this notification, “landed value” means the assessable value as determined under the Customs Act, 1962 (52 of 1962) and includes all duties of customs except duties levied under sections 3, 3A, 8B, 9 and 9A of the said Customs Tariff Act.
(i) the subject goods have entered the Indian market from the subject country at prices less than their normal values in the domestic market of the exporting country; (ii) the dumping margins of the subject goods imported from the subject country are substantial and above de minimis; and
The principal notification No. 52/2003-Customs, dated the 31st March, 2003 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R 274 (E), dated the 31st March, 2003 and last amended by notification No. 84/2007-Cus, dated the 6th July, 2007 published vide number G.S.R. 473 (E), dated the 6th July, 2007.
Even as the limited liability partnership (LLP) law is soon to become a reality, the issue of tax treatment for such entities has not yet been finalised. The Ministry for Corporate Affairs (MCA) has left it to the Finance Ministry to take a final call on the contentious issue of tax treatment for LLP firms.
