Circular No. 10 of 2008-Income Tax Representations have been received from various quarters regarding problems being faced by the seafood exporters mainly on account of provisions of Section 40A (3) of the Income-tax Act, 1961.
Vide Notification No. 64 (RE- 2008) dated 24.11.2008, import of items classified under Exim Code 54024400Elastomeric, 5402 47 00 — Other, of polyesters have been restricted. Reports have been received in this Office that these restricted items are being mis-declared and imported freely.
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 makes the following amendments to Notification No.93(RE-2007)/2004-2009 dated 1st April, 2008 read with Notification No. 37 (RE-2008)/2004-09 dated 3rd September, 2008 and Notification No. 38 (RE-2008)/2004-2008 dated 5th September, 2008, Notification No. 39 dated 16th September, 2008, Notification No.55 (RE-2008)/2004-09 dated 5th November, 2008.
The principal rules were notified vide notification No.23/2004-Central Excise(N.T.), dated the 10th September, 2004 and were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.600(E) of the same date and were last amended by notification No.35/2008-Central Excise(N.T.), dated the 24th September, 2008 that was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.677(E) of the same date.
In exercise of powers conferred under Section 37B of the Central Excise Act,1944, Central Board of Excise and Customs considers it necessary, for the purposes of uniformity with respect to levy of excise duty on items like bura, makhana, mishri, hardas and battasas (patashas), and for classification of such goods, to issue the following instructions.
The principal notification No. 3/2005-Central Excise, dated the 24th February, 2005 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 95(E) of the same date and was last amended vide notification No.29/2008-Central Excise, dated the 28th May, 2008 which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 410(E) of the same date.
Keeping in view the above, it is reiterated that no export of goods, which are apparently in the nature of ‘Military Stores’ may be allowed without No Objection Certificate from Department of Defence Production, by all units including EOU/EHTP/STP/BTP units.
Representations have been received from manufacturers of vehicles that their claims for refund of TED against deemed export supplies to EPCG Authorization holders through their dealers are being rejected by the Regional Authorities on the grounds that excise invoices are not issued directly in the name of the EPCG authorization holders and capital goods are not supplied directly to the EPCG authorization holder but are routed through the dealer.
In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 642 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules to amend the Companies (Central Government’s) General Rules and forms, 1956
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy – 2004-09, the Central Government hereby amends Schedule – I (Imports) of the ITC (HS) Classifications of Export and Import Items, 2004-09.
