"20 November 2008" Archive

Interconnect charges/port access charges cannot be regarded as fees for technical services

Commissioner of Income Tax Vs Bharti Cellular Ltd (Delhi High Court)

The payment for use of services for MTNL/other companies via the interconnect/port/access/toll by the assessee would not fall within the purview of payments as provided for under section 194J of the Act, so as to be eligible for tax deduction at source....

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Debit of advance authorization/DFIA based on balance CIF value of inputs in freely convertible currency-regarding

Policy Circular No. 41 (RE-2008)/2004-2009 (20/11/2008)

It is clarified that for the purpose of clearance of imported items against the advance authorization/DFIAs, imports would be allowed as per the balance CIF value in freely convertible currency irrespective of the fact as to whether the CIF value of imports had exhausted in the said authorisation in terms of Rupee. This is subject to oth...

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Policy Circular No. 40 (RE-2008)/2004-2009, Dated: 20.11.2008

Policy Circular No. 40 (RE-2008)/2004-2009 (20/11/2008)

It has been decided to add a condition to the EPCG Authorization that pharmaceutical units would instead be required to submit a copy of Drug Manufacturing Licence to the concerned Regional Authority within a period of three years from the date of issue of EPCG Authorization failing which the Bank Guarantee /Legal Undertaking executed/fur...

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Permission for export of edible oil in small consumer packs and proposal to allow export of fish oil-Monitoring of export quantity

Policy Circular No. 39 (RE-2008) 2004-09 (20/11/2008)

To monitor the quantity of edible oil exported in branded consumer packs of upto 5 Kgs and to ensure that the ceiling of 10,000 tons is not exceeded, a weekly report shall be sent to Office of DGFT by Joint Secretary, Customs (Central Board of Excise and Customs) and DGCI&S, Kolkata. The weekly report shall contain the quantity (in Kgs...

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Relaxation of ban for export of non-basmati rice by two 100% EOU units-regarding monitoring of export quantity

Policy Circular No. 38 (RE-2008) 2004-09 (20/11/2008)

Attention is invited to Notification No. 59 dated 18th November, 2008 and No. 38 dated 15th October, 2007, read with Notification No. 93 dated 1st April, 2008, Notification No. 37 dated 3rd September, 2008, Notification No. 38 dated 5th September, 2008, Notification No. 39 dated 16th September, 2008 and Notification No. 55 dated 5th Novem...

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Notification No. 62 (RE-2008)/2004-2009, Dated: 20.11.2008

Notification No. 62 (RE-2008)/2004-2009 (20/11/2008)

The Minimum Export Price mentioned in Para 2, Column 3 of the Notification No.59 (RE-2008)/2004-09 dated the 18th November, 2008 shall be read as ‘US $ 1000’ in place of ‘$ 1000’. This issues in public interest....

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Notification No. 61 (RE-2008)/2004-2009, Dated: 20.11.2008

Notification No. 61 (RE-2008)/2004-2009 (20/11/2008)

Notwithstanding anything contained in Para 2 above, export of cement by M/s IDEB Projects (P) Limited, Bangalore shall be allowed from Tuticorin Port, for a quantity of 41,100 bags of 50 Kg each, to Maldives for construction of Indian-Maldives Friendship Faculty of Hospitality and Tourism Studies Centre, under a bilateral agreement sign...

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Notification No. 60 (RE-2008)/2004-2009, Dated: 20.11.2008

Notification No. 60 (RE-2008)/2004-2009 (20/11/2008)

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 amends, with immediate effect, Notification No.85 (RE-2007)/2004-2009 dated 17.3.2...

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Notification No.123/2008-Customs dated 20th November, 2008

Notification No. 123/2008-Customs (20/11/2008)

Provided that no anti-dumping duty shall be imposed on Homopolymer Acrylic Fibre, falling under Chapter 55 of the First Schedule to the said Customs Tariff Act, containing 100 per cent. Acrylonitrile, when originating in, or exported from, the countries specified in column (2) of the above Table and imported into India, if the price of su...

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I-T Dept Chalks Out Strategy To Keep Tabs On Direct Tax Mop-Up

Tightening its belts, the income tax department has chalked out an intensive strategy on collections in the backdrop of slowing economy. Though, direct tax collections have been buoyant so far, the department is not taking any chances as the deadline for payment of the third installment of advance tax is drawing near.A meeting of senior l...

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