Circular No.643/34/2002-CX I am directed to refer to Board’s letter F.No.354/81/2000-TRU dated 30th June 2000 clarifying certain points relating to the new valuation provisions made effective from 1.7.2000.
Export of finished good directly from the job worker’s premises may be permitted provided the job worker’s premises is registered with the Central Excise authorities. However, export of such products from the job worker’s premises shall not be allowed through third parties as provided under paragraph 6.10 of the Policy.
Public Notice No. 20 (RE-03)/2002-2007 updates norms for textiles and plastic products under India’s export-import policy.
Considering the shortage of power in the country, it has been decided to allow the EOU/EPZ/STP/EHTP/SEZ units to sell or transfer their surplus power in DTA or to other EOU/EPZ/STP/EHTP/SEZ units.
Chapter XIII of the Income-Tax Act, 1961 (the Act), deals with “Income-Tax Authorities”. Part –‘C’ of this Chapter deals with “Powers” of the income-tax authorities. Section (‘S.’ for short) 131 deals with “Power regarding discovery, production of evidence, etc.”. Section 132 deals with “Search and seizure”. Section 13 2A deals with “Powers to requisition books of account, etc.” and S.1 32B deals with “Application of seized or requisitioned assets”
Circular No. 3 of 2002-Income Tax Representations have been received for grant of exemption from the requirement of deduction of income-tax at source under sections 193, 194A and 194K of the Income-tax Act on the payment of incomes to Ramakrishna Math and Ramakrishna Mission whose income is exempt under sub-clause (iv) of section 10(23C) of the Income-tax Act, 1961.
In exercise of the powers conferred by sub-rule (1) of rule 3 of the Customs Tariff (Transitional Product Specific Safeguard Duty) Rules, 2002, the Central Government hereby appoints Shri R. K. Gupta, Commissioner of Customs (General), New Delhi as the Director General (Specific Safeguard) for the purposes of the said rules.
At present, notification No. 42/99-Cus dated 28-4-99 allows import of cut & polished diamonds and gemstones up to 5% of the FOB value of the preceding financial year’s.
NAFED and other State Trading Enterprises are permitted to export onions under quota released and notified by Director General of Foreign Trade from time to time. The designated STEs can also issue NOCs to their Associate shippers. The STEs are presently allowed to levy service charges for issue of NOC etc. @ 3.5% of the invoiced value of export of onions. This charge shall stand reduced to a maximum of 2% for issue of any fresh NOC to Associate shippers with immediate effect and to a maximum of 1% w.e.f. 1.4.2003.
It has been brought to the notice of the Board by the Gem and Jewellery Export Promotion Council that the importers are being asked to furnish bank guarantee on the basis of tariff rate of duty applicable
