The last sentence of Para 6.16 (b) provides for destruction of goods with the permission of Customs authorities. In order to clarify that all kinds of obsolete goods could be destroyed, it is proposed to substitute 6.16 (b) as under on the lines of provisions contained in Customs Notification.
Government of India updates the Standard Input Output Norms for food, plastic, and sports goods in Public Notice No. 46 (RE-02)/2002-2007, dated 06/11/2002.
AEPC on the contrary has asserted that the contracts/LC have been on freight collect basis with the terms of shipment by sea
In exercise of the powers conferred by sub-section (1) of section 641 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following further amendment in Schedule V of the said Act, namely
Reference is invited to Policy Circular No 14 dated 19.10.2001 which prescribed the procedure for the settlement of audit objections wherever the relevant policy provisions mandated the surrender of Special Import Licence (SIL) that is now defunct. In continuation of the aforesaid provision, some of the regional offices have sought the extension of the provision of PC 14 dated 19.10.2001 to all category of cases where the surrender of SIL was mandated for regularisation of the cases.
ASSOCHAM have represented to Board that member exporters are facing difficulties in availing duty drawback in respect of goods which were imported earlier and are subsequently re-exported under Section 74 of the Customs Act. It is reported that in such cases Customs insist that for the purpose of availing drawback under Section 74, the goods should be reexported back to the same supplier who had supplied the goods.
It has been observed that debt instruments issued by some of the issuer companies are admitted only on one of the Depositories.
Circular No. 674/65/2002-CX I am directed to draw your attention to Board’s circular No. 5/83-CX6 dated 10.3.83 issued from F.No. 210/28/81-CX6 and circular No. 444/10/99-CX dated 12.3.99 issued from F.No.210/1/99-CX6 wherein it has been, inter alia, directed that immediately on receipt of objection from CERA , demand-cum-show cause notice should be issued without any loss of time even if the Central Excise officers do not agree with Audit’s point of view.
Rate of exchange applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is specified in the notification of the Government of India in the Ministry of Finance and Company Affairs (Department of Revenue), 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 said Customs Act, 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.
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the erstwhile Ministry of Finance (Department of Revenue), No. 8/97-Central Excise, dated the 1st March, 1997, name.
