These guidelines are issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
In sub-paragraph 6.8(a) as amended vide Notification No. 2 dated 13th May, 2005, the third sentence viz “No DTA sale at concessional duty shall be permissible in respect of motor cars, alcoholic liquors, books, tea(except instant tea), pepper & pepper products, refrigeration unit/compacting/ micronisation /pulverization/ granulation/conversion of monohydrate form of chemical to anhydrous form or vice-versa and such other items as may be notified from time to time” shall be amended to read as “No DTA sale at concessional duty shall be permissible in respect of motor cars, alcoholic liquors, books, tea (except instant tea), pepper & pepper products and such other items as may be notified from time to time.
Registering authority for SEZ units and SEZ developers, shall be the Development Commissioner of the SEZ concerned. A separate Registration-cum-Membership Certificate shall not be required in their cases as provided for in Paragraph 2.44 of the Policy except in case of spices. In case of spices, it would be mandatory for the units to get themselves registered with the Spices Board also.
It has been decided that in case of spices, it would be mandatory for the EOU/SEZ units to get themselves registered with the Spices Board. .Public Notice No.21 dated 13.6.05 has been issued in this connection. This will also be applicable to existing units in EOU/SEZ engaged in import/export of spices. This requirement should be strictly complied with.
It is hereby clarified that a Branch Office of a Foreign Company can be issued an IEC number provided the Branch Office in India has been opened with RBI permission under Foreign Exchange Management (Establishment in India of a branch or office or other place of business) Regulation 5 of Notification No. FEMA 22/2000-RB dated 3rd May, 2000 and the Branch Office has been permitted by the RBI to undertake import or export business in India.
In the case of assorted and mixed consignments where both coated and uncoated paper have been used in the exported product, exporter shall declare the consignment as mixed / assorted consignment having used both coated and uncoated paper and can claim entitlements for coated paper not exceeding 20% of their total import quantity entitlements as per the SION without maintaining any separate accountability. The rest they can import paper.
In exercise of the powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2004-2009 and paragraph 1.1 of the Handbook of Procedures (Vol.I), 2004-2009 , notified vide Public Notice No.1 dated 8th April, 2005, the Director General of Foreign Trade hereby makes the following amendments.
HC held that Revenue is to be definitely restrained in terms of Section 205 of the Act from enforcing any demand on the assessee-petitioner insofar as the demand with reference to the amount of tax which had been deducted by the tenant of the assessee in the present case, and assuming that the tenant had not remitted the amount to the Central Government. The only course open to the Revenue is to recover the amount from the very person who has deducted and not from the petitioner.
If we look at the scheme for the provision of deduction of tax at source, it becomes obvious that such person is acting on behalf of the Revenue, i.e.,as an agent of the Revenue. In fact, the person is enabled statutorily to make deduction and remit the amount to the Central Government, though in the instant case, the person who has deducted the amount may be the tenant or lessee of the petitioner and there is such inter se relationship as between the two,
In exercise of the powers conferred by sub-section (1B) of section 35B of the Central Excise Act, 1944 (1of 1944), the Central Board of Excise and Customs hereby makes the following amendments in the Notification No. 25/2005-Central Excise
